Question

Networth Me
1. Mr. Janaki Raman keeps his books by single entry. He started business on 1 st
January 2006 with Rs. 1,00,000. On 31 st December 2006 his position was as under.
Assets
Rs. Liabilities
Rs.
Cash in hand
2,500 Sundry Creditors
20.000
Cash at Bank
5,000 Bills payable
2.500
Furniture
12,500 Outstanding creditors
2.500
Plant
COL 50,000
Sundry debtors
25,000
Stock
45,000
Bills Receivable
5,000
Ascertain the profit or loss made by Mr. Janaki Raman during 2006.
Show the sum answer​

Answer 1

Explanation:

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