Question

27) Kuldeep, a general merchant, keeps his account on Single Entry System.He wants to know the result of
his business on 31st March, 2019 and for that following information is available:
1stApril 2018 31st March 2019
Cash in hand
----150
175
Bank Balance
---750
800
Furniture
---100
*100
Stock
----500
650
creditors----350
400
Debtors
---------250
300
During the year, he had withdrawn 500 for his personal use and invested * 250 as additional capital. Calculate
his profits on 31st March' 2019 and prepare statement of affairs as on that date.​

Answer 1

Answer:

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