Question

plz solve ASAP...( Class 11th accountancy) ​

Answer 1

Answer:

Explanation:

THE BALANCE SHEET AS ONWILL BE DRAWN AS UNDER

BALANCE SHEET AS AT 31.03.2008

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LIABILITIES                                                               ASSETS

                       01.04.2007     31.03.2008                 01.04.2007        31.03.2008

 CAPITAL A/C   50,000.00    1,25,000.00

LOAN (Y)            25,000.00     25,000.00            75,000.00          1,50,000.00                                        

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TOTAL               75,000.00      1,50,000.00           75,000.00        1,50,000.00

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NOTES:

1. Presumed that he still have not re-paid the loan taken from Sh Y

2. The loan from Y was at a zero % rate of interest or we can say it was a family loan.