Question

Question 11.
A commenced business on 1st April, 2017 with a capital of ₹ 10,000. He immediately bought Furniture and Fixtures for ₹ 2,000. On 1st October, 2017, he borrowed ₹ 5,000 from his wife @ 9% p.a. (interest not yet paid) and introduced a further capital of his own amounting to ₹ 1,500. A drew @ ₹ 300 per month at the end of each month for household expenses. On 31st March, 2018 his position was as follows:
Cash in Hand ₹ 2,800; Sundry Debtors ₹ 4,800; Stock ₹ 6,800; Bills Receivable ₹ 1,600; Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be depreciated by 10%. Ascertain the profit or loss made by A during 2017-18.

Answer 1

Answer:

calculate u will ...,.........

Answer 2

The Profit and Loss made by A during the year amounts to Rs 4,025

Explanation:

• Profit and loss termed as P&L statement , which is defined as the statement that summarize the expenses, revenues as well as costs that is incurred during the particular period, which is usually a fiscal period or a year.

• This statement provide the information regarding the ability as well as inability of the company in order to generate the profit through increasing the revenues and reducing the expenses as well as cost.

• So, in this case, the profit and loss amounts to Rs 4,025