From the following particulars prepare the Proprietor's Capital Account: 2015 April 1 June 17 July 31 Sept. 25 Dec. 31 Started business with cash ₹75,000 Withdrew from business for personal use 10,000 Life insurance premium paid 13,000 Sold personal investments worth 15,000 at 5% profit and brought into business on the same date. Loss for the year ₹5,000

From the following particulars prepare the Proprietor's Capital Account: 2015 April 1 June 17 July 31 Sept. 25 Dec. 31 Started business with cash ₹75,000 Withdrew from business for personal use 10,000 Life insurance premium paid 13,000 Sold personal investments worth 15,000 at 5% profit and brought into business on the same date. Loss for the year ₹5,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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