Question

Q1. X started business on 1st April, 2018 with a capital of Rs.50,000 and a loan of Rs.
25,000 taken from Y. During 2018-19 he had introduced additional capital of Rs. 25,000 and
had withdrawn Rs. 15,000 for personal use. On 31st March, 2019 his assets were
Rs.1.50,000. Find his capital as on 31s! March, 2019 and profit made or loss incurred during
the year 2018-19.​

Answer 1

Answer:

Capital Amount as on 1st April, 2012 = Rs. 50000.00

Loan Liability as on 1st April, 2012 = Rs. 25000.00

Additional capital infuse to the business during FY-2012-2013 is = Rs. 25000.00

Withdrawn of capital for personal use during FY-2012-2013 is = Rs. 15000.00

Consider the profit from his business in the FY-2012-2013 is = Rs. X

Therefore the total capital at the end of FY-2012-2013

$c = 50000+25000+x-15000=60000+x$

His assets were at the end of FY-2012-2013 Rs. 150000.00

We know that asset = Capital + liabilities

therefore,

$150000=60000+x+25000\\=x=150000-(60000+25000)\\=x=65000$

Therefore

His capital as on 31st March, 2013 = Rs. (60000+65000) =Rs. 125000

His profit = Rs. 65000

Answer 2

Explanation:

Q1. X started business on 1st April, 2018 with a capital of Rs.50,000 and a loan of Rs.

25,000 taken from Y. During 2018-19 he had introduced additional capital of Rs. 25,000 and

had withdrawn Rs. 15,000 for personal use. On 31st March, 2019 his assets were

Rs.1.50,000. Find his capital as on 31s! March, 2019 and profit made or loss incurred during

the year 2018-19.