The Total solution for NCERT class 6-12
April.01, 2016
March.31, 2017
Rs
Creditors
5,000
30,000
Bills payable
10,000
–
Loan
50,000
Bills receivable
Stock
Cash
2,000
20,000
Statement of Affairs as on April 01, 2016
Liabilities
Amount Rs
Assets
Amount
Bills Receivable
Bills Payable
Capital (Balancing figure)
22,000
2000
37,000
Statement of Affairs as on March 31, 2017
1,00,000
Capital on March 31, 2017 (Closing)is Rs 20,000
Statement of Profit and Loss
Particulars
Capital on March 31, 2017
Less: Capital on April 01, 2016
(22,000)
Loss during the year 2017
(2,000)