Pankaj maintain his bank as per single entry system.His capital as on 31st December 2015 was rs 30000.he withdrew from the business rs 700per month upto June 2016 and thereafter 900 per month as drawings .He also paid an installment of rs 1200 per month on the loan taken for his personal house from the business.He sold his shares in reliance company of rs 50000 at a premium of 5% and bought that money into the business.If capital as on 31st December 2016 was rs 470000.calculate the profit earn during the year.
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Are you calculating profits from capital?
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