Question

12) Mohan lal keeps incomplete records of his business. From the following information determine the result of the
business during the accouting period :
PARTICULAR
Cash in Hand
Bank Balance
Furniture
Stock
Creditors
Debtors
1 st April 2016
4500
8500
12000
21800
24000
23600
31st March 2017
3500
7500
10800
23000
25400
24800

During the year he withdrews Rs 500 Per month for his household needs and withdrew goods worth Rs 3000 for
domestic Purposes. During the year, he sold his motorbike for Rs 10000 and
istroduced Rs 8000 into the business.
Compute his Profit and Loss during the year. (3)​

Answer 1

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