X started a business on 1st april,2012 with a capital of rs.50,000 and a loan of rs.25,000 borrowed from y. During 2012-13,he had introduced additional capital of rs.25,000 and had withdrawn rs.15,000 for personal use.On 31st march,2013 his assets were rs.1,50,000. Find out his capital as on 31.03.2013 and profit made or loss incurred during 2012-13.
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Capital Amount as on 1st April, 2012 = Rs. 50000.00
Loan Liability as on 1st April, 2012 = Rs. 25000.00
Additional capital infuse to the business during FY-2012-2013 is = Rs. 25000.00
Withdrawn of capital for personal use during FY-2012-2013 is = Rs. 15000.00
Consider the profit from his business in the FY-2012-2013 is = Rs. X
Therefore the total capital at the end of FY-2012-2013
His assets were at the end of FY-2012-2013 Rs. 150000.00
We know that asset = Capital + liabilities
therefore
His capital as on 31st March, 2013 = Rs. (60000+65000) =Rs. 125000
His profit = Rs. 65000
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