Solution: In the books of Shri Rajesh.
Statement of Affairs as on 1.4.2012
Liabilities
|
Amount.
|
Assets
|
Amount
|
Creditors
|
15000
|
Cash in hand
|
10000
|
Capital at the Beginning of the year. [Bal. Fig.]
|
133000
|
Cash at Bank
|
20000
|
Stock
|
16000
| ||
Furniture
|
18000
| ||
Plant and Machinery
|
60000
| ||
Debtors
|
24000
| ||
148000
|
148000
|
Statement of Affairs as on 31. 3. 2013
Liabilities
|
Amount.
|
Assets
|
Amount
|
Creditors
|
18000
|
Cash in Hand
|
16000
|
Capital at the end of the year.
[Bal. Fig.]
|
196000
|
Cash at Bank
|
36000
|
Stock
|
24000
| ||
Furniture
|
18000
| ||
Plant and Machinery
|
90000
| ||
Debtors
|
30000
| ||
214000
|
214000
|
Statement of Profit Or Loss of Shri Rajesh for the year ended 31. 3. 2013
Particulars
|
Amount. Rs.
|
Amount. Rs.
|
Capital at the end of the year.
|
196000
| |
Add: Drawings
| ||
Cash
|
10000
| |
Goods
|
2000
|
12000
|
208000
| ||
Less: Additional Capital Introduced
|
2000
| |
Adjusted Closing Capital
|
206000
| |
Less: Capital at the beginning of the year.
|
133000
| |
Profit Before Adjustments.
|
73000
| |
Add: Incomes and Gains During the year.
|
-
| |
Less: Expenses and Losses During the year
| ||
Depreciation of Machinery
|
7500
| |
Depreciation on Furniture
|
900
|
8400
|
Net Profit of the year
|
64600
|
