Gopal does not keep proper books of account. Following information is given below:


During the year he introduced Rs 20,000 and withdrew Rs 12,000 from the business. Prepare the statement of profit or loss on the basis of given information

Mr. Akshat keeps his books on incomplete records following information is given below : During the year he withdrew Rs 45,000 and introduced Rs 25,000 as further capital in the business compute the profit or loss of the business.

Mr. Ashok does not keep his books properly. Following information is available from his books. During the year Mr. Ashok sold his private car for Rs 50,000 and invested this amount into the business. He withdrew from the business Rs 1,500 per month upto October 31, 2016 and thereafter Rs 4,500 per month as drawings. You are required to prepare the statement of profit or loss and statement of affair as on March 31, 2017.

Mr. Mehta started his readymade garments business on April 1, 2016 with a capital of Rs 50,000. He did not maintain his books according to double entry system. During the year he introduced fresh capital of 15,000. He withdrew Rs 10,000 for personal use. On March 31, 2017, his assets and liabilities were as follows : Total creditors Rs 90,000 , Total debtors Rs 1,25,600 , Stock Rs 24,750 , Cash at bank Rs 24,980. Calculate profit or loss made by Mr. Mehta during the first year of his business using the statement of affairs method.

Mr. Arnav does not keep proper records of his business he provided following information, you are required to prepare a statement showing the profit or loss for the year. Ascertainment of statement of affairs at the beginning and at the end of the year and calculation of profit or loss.

M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017 Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of 5% is to be made on debto Rs outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ 10% p.a.