Mrs. Anu started firm with a capital Rs. 4,00,000 on 1st July, 2011. S

1.	Mrs. Anu started firm with a capital Rs. 4,00,000 on 1st July, 2011. She borrowed from her friends a sum of Rs. 1,00,000 at 10% per annum (interest paid) for business and brought a further amount to capital of Rs. 75,000 on Dec 31, 2011. Her position was Items(Rs.)Cash 30,000Stock4,70,000Debtors3,50,000Creditors3,00,000 She withdrew Rs. 8,000 per month for the year. Calculate profit or loss for the year and show your working clearly.
Answer» Mrs. Anu started firm with a capital Rs. 4,00,000 on 1st July, 2011. She borrowed from her friends a sum of Rs. 1,00,000 at 10% per annum (interest paid) for business and brought a further amount to capital of Rs. 75,000 on Dec 31, 2011. Her position was $\begin{matrix} Items & (Rs.) Cash & 30, 000 Stock & 4, 70, 000 Debtors & 3, 50, 000 Creditors & 3, 00, 000 \end{matrix}$ She withdrew Rs. 8,000 per month for the year. Calculate profit or loss for the year and show your working clearly.

Mrs. Anu started firm with a capital Rs. 4,00,000 on 1st July, 2011. She borrowed from her friends a sum of Rs. 1,00,000 at 10% per annum (interest paid) for business and brought a further amount to capital of Rs. 75,000 on Dec 31, 2011. Her position was Items(Rs.)Cash 30,000Stock4,70,000Debtors3,50,000Creditors3,00,000 She withdrew Rs. 8,000 per month for the year. Calculate profit or loss for the year and show your working clearly.

Answer»

Mrs. Anu started firm with a capital Rs. 4,00,000 on 1st July, 2011. She borrowed from her friends a sum of Rs. 1,00,000 at 10% per annum (interest paid) for business and brought a further amount to capital of Rs. 75,000 on Dec 31, 2011. Her position was

$\begin{matrix} Items & (Rs.) Cash & 30, 000 Stock & 4, 70, 000 Debtors & 3, 50, 000 Creditors & 3, 00, 000 \end{matrix}$

She withdrew Rs. 8,000 per month for the year.
Calculate profit or loss for the year and show your working clearly.

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