Question

Ruj tells you that his capital on 31st December, 2003 is 18,700 and his capital on
1st January, 2003 was 19,200. He further informs you that during the year he gave a
an of 3,500 to his brother on private account and withdrew 300 p.m. for personal
ptorposes. He also used a flat for his personal purpose, the rent of which 100 per
month and electricity charges at an average rate of 10 per month were paid from the
business account. During the year he sold his 7% Government Bonds of 2,000 at 2%
premium and brought that money into the business,
You are required to prepare a Statement of Profit or Logs for the year ended 31st
December, 2008.
(MSE Chandigarh 2008)
[Profit-5,880]
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Answer 1

Step-by-step explanation:

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