Particular
|
31.03.2013
|
31.03.2014
|
Stock
|
15000
|
14000
|
Furniture
|
53500
|
44000
|
Plant and Machinery
|
42500
|
55500
|
Loan Taken
|
21000
|
21000
|
Bank Balance
|
1900
|
2100
|
Debtors
|
43000
|
35000
|
Creditors
|
18000
|
14900
|
Mr. Raj
invested Rs. 4000 in the business.
Also he
had withdrawn Rs. 15,000 for his private expenses from business.
Rs. 500 to
be provided for bad debts.
Depreciate
plant and machinery @ 5% and furniture @5%
Prepare: i.
Statement of Affairs as on 31.3.2013. ii. Statement of Affairs as on 31.3.2014.
iii. Statement of Profit and Loss for the year ended on 31.3.2014.
Solution:
In the books of Mr. Raj
Statement
of Affairs as on 31.03.2013 and 31.03.2014
Liability
|
31.3.2013
|
31.3.2014
|
Assets
|
31.03.2013
|
31.03.2014
|
Capital
(Bal. Fig.)
|
116900
|
114700
|
Stock
|
15000
|
14000
|
Furniture
|
53500
|
44000
|
|||
Plant and
Machinery
|
42500
|
55500
|
|||
Loan Taken
|
21000
|
21000
|
Bank Balance
|
1900
|
2100
|
Creditors
|
18000
|
14900
|
Debors
|
43000
|
35000
|
155900
|
150600
|
155900
|
150600
|
Statement
of Profit or Loss for the year ended 31.03.2014
Particulars
|
Rs.
|
Rs.
|
Capital at the end of the
year
|
114700
|
|
Add: Drawings:
|
||
Amount withdrawn for Private
Expenses
|
15000
|
|
129700
|
||
Less: Additional Capital
Introduced
|
||
Amount Invested by Mr.
Raj.
|
-4000
|
|
125700
|
||
Less: Capital at the
beginning of the year
|
-116900
|
|
Trading Profit
|
8800
|
|
Less: Depreciation:
|
||
On Plant and Machinery
55500 × 5% = 2775
|
2775
|
|
On Furniture
44000 × 5% = 2200
|
2200
|
-4975
|
3825
|
||
Less: Bad debts
|
-500
|
|
Net Profit
|
3325
|
ANSWER
116900
|
114700
|
8800
|
3325
|
OPENING CAPITAL
|
CLOSING CAPITAL
|
TRADING PROFIT
|
NET PROFIT
|
