The Total solution for NCERT class 6-12
April 01, 2016
March 31, 2017
Rs
Cash in hand
1,000
1,500
Cash at bank
15,000
10,000
Stock
1,00,000
95,000
Debtors
42,500
70,000
Business premises
75,000
1,35,000
Furniture
9,000
7,500
Creditors
66,000
87,000
Bills payable
44,000
58,000
Books of Mr. Akshat
Statement of Affairs as on April 01, 2016
Liabilities
Amount
Assets
Cash in Hand
Bills Payable
Cash at Bank
Capital (Balancing figure)
1,32,500
Business Premises
2,42,500
Statement of Affairs as on March 31, 2017
1,74,000
3,19,000
Statement of Profit and Loss as on March 31, 2017
Particulars
Capital on March 31, 2017
Add: Drawings made during the year
45,000
Less: Capital on April 01, 2016
(1,32,500)
Less: Additional capital introduced
(25,000)
Profit earned by Mr. Akshat during the year 2016–2017
61,500