Question

On 1st April 2018, the following balances appeared in the books of Futuristic Ltd.:

Assets: Cash in hand 8,000; Cash at Bank 15,000; Bills Receivable 24,000; Debtors

245,000: Stock 65,000; Investruents 14,000; Machinery 2,20,000; Building 3,15,000.

Liabilities: Creditors 92.000; Loan from Raghu 284,000: Bills Payable 24,000​

Answer 1

Answer:

The company is in PROFIT...

EXPLAINATION:

We can clearly see that the ASSETS are more than the LIABILITIES thus the public company Futuristic Ltd. is in PROFITS.

HOPE THIS HELPS....