Manveer started his business on January 01, 2005 with a capital of Rs.

1.	Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31, 2005, his position was as under Items(Rs.) Cash 99,000Bills Receivable 75,000Plant 48,000Land and Building1,80,000Furniture 50,000 He owed Rs. 45,000 from his friend Susheel on that date. He withdrew Rs. 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended December 31, 2005.
Answer» Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31, 2005, his position was as under $\begin{matrix} Items & (R s .) Cash & 99, 000 Bills Receivable & 75, 000 Plant & 48, 000 Land and Building & 1, 80, 000 Furniture & 50, 000 \end{matrix}$ He owed Rs. 45,000 from his friend Susheel on that date. He withdrew Rs. 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended December 31, 2005.

Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31, 2005, his position was as under Items(Rs.) Cash 99,000Bills Receivable 75,000Plant 48,000Land and Building1,80,000Furniture 50,000 He owed Rs. 45,000 from his friend Susheel on that date. He withdrew Rs. 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended December 31, 2005.

Answer»

Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31, 2005, his position was as under

$\begin{matrix} Items & (R s .) Cash & 99, 000 Bills Receivable & 75, 000 Plant & 48, 000 Land and Building & 1, 80, 000 Furniture & 50, 000 \end{matrix}$

He owed Rs. 45,000 from his friend Susheel on that date. He withdrew Rs. 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended December 31, 2005.

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