sudhir started business on 1st April,2019 witg a capital of ₹110000 and borrwed ₹30000 from his wife. he earned a profit of rs 35000 during the year ended 31st March 2020 ans withdrew cash for ₹20000 for personal use. what is the capital on 31st March 2020.?
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Answer:
Statement of Profit or Loss
Particulars
Amount
(Rs)
Capital at the end
90,000
Add: Drawings
5,000
95,000
Less: Additional Capital Introduced
(10,000)
Adjusted Capital at the end
85,000
Less: Capital in the beginning
60,000
Net Profit for the year
25,000
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