Sushanta paul is a businessperson of paul’s coffee shop his capital was taka 70000 on 1 January,2020. His amount of drawings take 15000 and he didn’t bring any additional capital in this year. On 31 December, 2020 total assets & total liabilities were taka 120000 & taka 30000 respectively. Calculate the amount of profit/loss.
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Answer:
total assets -(total liabilities+capital -drawing)
120000-(30000+70000-15000)
120000-85000=35000
profit =35000
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