Question

Tsgeriwal chapter 5 question no. 27

Answer 1

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a. Mohan started a business on 1st April 2014 with a capital of Rs.10,000 and borrowed Rs.3,000 from a friend. He earned a profit ofRs.5,000 during the year ended 31st march, 2013 and withdrew cash Rs.4,000 for private use. What is his capital on 31st March, 2015?

b. Mahesh started a business with capital of Rs.15,000 on 1st April, 2014. During the year he made a profit of Rs.3,000. He owes Rs.2,500 to suppliers of goods. What is the total of assets in his business on 31st March, 2014-15?

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