Prepare Accounting Equation from the following Information : Rs. (1) Started business with cash 2,00,000 (2) Goods Purchased 40,000 (3) Goods Purchased from Mohan 30,000 (4) Rent paid 10,000 (5) Received commission 12,000 (6) Furniture purchased from Best Furniture House 14,000 (7) Withdrew for personal use 10,000 (8) Amount paid to creditors 13,000 (9) Goods costing 10,000 sold at a profit of 20% (10) Goods costing 20,000 sold at a profit of 25% to Mohit (11) Received from Debtors 15,000 (12) Amount deposited in bank 12,000 (13) Computer purchased for personal use 18,000.
Answers
Explanation:
Answer :
Answer : Statement of Profit or Loss
Answer : Statement of Profit or Loss for the year ended
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,0008,75,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,0008,75,000(-) Additional Capital Introduced 50,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,0008,75,000(-) Additional Capital Introduced 50,0008,25,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,0008,75,000(-) Additional Capital Introduced 50,0008,25,000(-) Capital at the Beginning of the year 7,50,000
Answer : Statement of Profit or Loss for the year endedParticulars Amt. (Rs)Capital at the end of the year 5,00,000(+) Drawings during the year 3,75,0008,75,000(-) Additional Capital Introduced 50,0008,25,000(-) Capital at the Beginning of the year 7,50,000Profit made during the year (b/f) 75,000