Question

Net worth (or) Statement of affairs Method
Illustration 1
Find out profit from the following data
RS
8,00,000
180,000
9,00,000
Capital at the beginning of the year
Drawings during the year
Capital at the end of the year
Capital introduced during the year
Solution:
Statement of profit
Closing capital
Add: Drawings
Less: Additional capital
Rs.
9,00,000
1,80,000
10,80,000
50,000
10,30,000
8,00,000
2,30,000
Less: Opening capital
Net profit
Illustration 2​

Answer 1

Answer:

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