Ascertainment of profit or loss by state...

Ascertainment of profit or loss by statement of affairs method
Following information is given below prepare the statement of profit or loss:
Capital at the end of the year = Rs 5,00,000
Capital in the beginning of the year = Rs 7,50,000
Accounts from Incomplete Records
Drawings made during the period = Rs 3,75,000
Additional Capital introduced = Rs 50,000

Text Solution

Verified by Experts

The correct Answer is:

Profit : Rs 75,000

Topper's Solved these Questions

ACCOUNTS FROM INCOMPLETE RECORDS
NCERT|Exercise Test Your Understanding- I|4 Videos
ACCOUNTS FROM INCOMPLETE RECORDS
NCERT|Exercise Test Your Understanding-II|1 Videos
ACCOUNTS FROM INCOMPLETE RECORDS
NCERT|Exercise Summar with reference to Learning Objectives.|3 Videos
APPLICATIONS OF COMPUTERS IN ACCOUNTING
NCERT|Exercise Questions for Practice(Long Answers)|4 Videos

NCERT-ACCOUNTS FROM INCOMPLETE RECORDS-Numerical questions

Ascertainment of profit or loss by statement of affairs method Foll...
02:01
|
Manveer started his business on April 01, 2016 with a capital of Rs 4,...
03:44
|
From the information given below ascertain the profit for the year : ...
03:13
|
From the following information, Calculate Capital at the beginning : ...
01:22
|
Following information is given below : calculate the closing capital ...
03:52
|
Mrs.Anu started firm with a capital of Rs 4,00,000 on 1st October. 201...
03:44
|
Mr. Arnav does not keep proper records of his business he provided fol...
02:58
|
Mr. Akshat keeps his books on incomplete records following information...
05:28
|
Gopal does not keep proper books of account. Following information is ...
04:27
|
Mr. Muneesh maintains his books of accounts from incomplete records. H...
04:34
|
Mr. Girdhari Lal does not keep full double entry records. His balance ...
03:31
|
Mr. Ashok does not keep his books properly. Following information is a...
05:55
|
Krishna Kulkarni has not kept proper books of accounts prepare the sta...
06:21
|
M/s Saniya Sports Equipment does not keep proper records. From the fol...
07:27
|
From the following information calculate the amount to be paid to cred...
03:37
|
Find out the credit purchases from the following:
04:53
|
From the following information calculate total purchases.
04:11
|
The following information is given Calculate credit purchases dur...
02:55
|
From the following, calculate the amount of bills accepted during the ...
02:09
|
Find out the amount of bills matured during the year on the basis of i...
02:19
|

Home

Profile