Accountancy, asked by chainKumarJain, 6 days ago

*62,300; 1,16,300.] 6. 17. Mr. Asif Ali, a retail trader, who keeps Incomplete Records gives you the following information for the year 2018-19 : SUMMARY OF CASH TRANSACTIONS ₹ Received from Debtors 38,000 Bank Overdraft on 1-4-2018 2,500 Cash Sales 26,500 Paid to Creditors 31,200 Miscellaneous Income 300 Carriage inwards 800 Salaries 12,400 Advertisement 700 Cash Purchases 16,000 Balance at Bank on 31-3-2019 1,200 64,800 64,800 The Assets and Liabilities were as follows: Stock Fixed Assets Sundry Debtors Sundry Creditors 31st March, 2018 | 31st March, 2019 ₹ ₹ 15,000 12,000 25,000 25,000 12,000 ? 8,600 ? Other Informations :- (1) Credit Sales during the year were 35,100. (2) Sales returns 800. (3) Credit Purchases during the year were 330,000. (4) Discount allowed to Debtors 300. (5) Discount received from Creditors 130.​

Answers

Answered by achyuthvdev1
0

Explanation:

Statement of Profit or Loss

for the year ended ….

Particulars Amount

(Rs)

Capital at the end of the year 2,50,000

Add: Drawings made during the year 60,000

Less: Additional capital introduced during the year 75,000

Adjusted capital at the end of the year 2,35,000

Less: Capital in the beginning of the year 2,00,000

Profit made during the year 35,000

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