The opening capital of a trader was Rs. 15,000. During the year
he withdrew Rs. 7,000 and additional capital introduced was
Rs. 10,000. The closing capital Rs. 25,000. Calculate the profit or
loss
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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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