Question

Mohan a retail merchant commenced
business with a capital of Rs.12,000 on
1-1-94. Subsequently on 1-5-94 he invested
further capital of Rs.5,000. During the year,
he was withdrawn Rs.2,000 for his personal
use. On 31-12-94, his assets and liabilities
were as follows:-
Rs.
Cash at Bank 3,000
Debtors 4,000
Stock 16,000
Furniture 2,000
Creditors 5,000
Calculate the Profit or Loss made during the
year 1994.

Answer 1

Answer:

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