2. In the books of Mr. John.
Statement of Affairs.
Liabilities
|
1.4.12
|
31.3.13
|
Assets
|
1.4.12
|
31.3.13
|
Sundry Creditors
|
54500
|
60400
|
Machinery
|
70000
|
70000
|
Capital Fund
(Balancing Figure)
|
178700
|
216400
|
Furniture
|
10000
|
20000
|
Stock
|
36000
|
42000
| |||
Sundry Dentors
|
72200
|
88400
| |||
Cash in Hand
|
3000
|
4100
| |||
Cash at Bank
|
42000
|
52300
| |||
233200
|
276800
|
233200
|
276800
|
Statement of profit or Loss for the year ended 31st March, 2013
Particulars
|
Amount
(Rs.)
|
Amount
(Rs.)
|
Capital at the endo fothe accounting year. 2012 - 13
|
216400
| |
Add: Drawings made duing the accounting year.
|
15000
| |
231400
| ||
Less: Additional Capital Introduced
|
20000
| |
Adjusted Closing Capital
|
211400
| |
Less: Capital at the begining of the accounting year
|
178700
| |
32700
| ||
Less: Depreciation
| ||
On Machinery (10% on Rs.70000 for 1 year)
|
7000
| |
On Opening Furniture (20% p.a. On Rs. 10000 for 1 year)
|
2000
| |
On Additional Furniture (20% on Rs. 10000 for 6 months)
|
1000
|
10000
|
Net profit Earnied during the year.
|
22700
|
