Question

Anand started a business with an initial capital of ₹ 40,000 on 1st April, 2019. On 1st October, 2019 he borrowed ₹ 9,000 from his brother, Ram at 10% p.a. (interest not yet paid) for business and introduces additional capital amounting to ₹ 4,000. On 31st March, 2020 his position was as follows: Cash ₹ 18,000; Bank ₹ 2,000; Stock ₹ 15,000, Debtors ₹ 10,000; and Creditors ₹ 10,000. You are required to make the statement of profit or loss when the drawings for the year are ₹ 1,000.​

Answer 1

Answer:

123355

Explanation:

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