1.

Shruti maintains her books of account from Incomplete Records. Her books provide the following information: |{:(,,"1st April, 2015(Rs)","31st March,2016(Rs)"),("Cash ",..................................................................,"1,200","1,600"),("Bills Receivable",..................................................................,"...","2,400"),("Debtors",..................................................................,"16,800","27,200"),("Stock",..................................................................,"22,400","24,400"),("Investments",..................................................................,"...","8,000"),("Furniture",..................................................................,"7,500","8,000"),("Creditors",..................................................................,"14,900","11600"):}| She withdrew Rs. 500 per month for personal expenses. She sold her Investments of Rs. 16,000 at 5% premium and introduced the amount into business. You are required to prepare a Statement of Profit of Loss for the year ending 31st March, 2016.

Answer»


Answer :Capital as at 1st April, 2015 - RS. 33,000; Capital as at 31st MARCH, 2016- Rs. 60,000; PROFIT - Rs. 16,200.


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