Question

3. Gopi keeps his books under single entry system. The assets and liabilities position on 31
December 2003 and 2004 were as follows.
Particulars
31.12.2003
31.12.2004
(Rs.)
Rs.
Cash in hand
200
300
Cash at Bank
3,000
2.000
Stock in trade
20,000
19,000
Sundry debtors
8,500
14,000
Furniture
1,800
1,500
Plant and Machinery
15,000
27,000
Sundry creditors
22000
29,000
During the year, Gopi introduced a further capital of Rs. 5,000 into the business and withdrew Rs.
p.m. From the given details prepare a statement showing the profit or loss made by him for the
year ended 31.12.2004.
750​

Answer 1

Answer:

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