Mr. Ravi Kumar keeps his books in Single entry. His position on 31.12.2014 was as follows: Cash at Bank 3,000; Stock 20,000; Debtors 30,000 Machinery 50,000 and Creditors 25,000. His position on 31.12.2015 was as follows: Cash at bank 4,000; Stock 25,000; Debtors 45,00 Machinery 7 50,000 and Creditors 25,000. During the year he Introduced 10,000 as further capital ar with drew from business { 3,000 per month. From the above information ascertain the profit or loss mac by Mr. Ravi Kumar for the year ended 31st Dec. 2015.
Mr. Ravi Kumar keeps his books in Single entry. His position on 31.12.2014 was as follows: Cash at Bank 3,000; Stock 20,000; Debtors 30,000 Machinery 50,000 and Creditors 25,000. His position on 31.12.2015 was as follows: Cash at bank 4,000; Stock 25,000; Debtors 45,00 Machinery 7 50,000 and Creditors 25,000. During the year he Introduced 10,000 as further capital ar with drew from business { 3,000 per month. From the above information ascertain the profit or loss mac by Mr. Ravi Kumar for the year ended 31st Dec. 2015.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:0. Mr. Ravi Kumar keeps his books in Single entry. His position
on 31.12.2014 was as follows:
Cash at Bank { 3,000; Stock 20,000; Debtors 30,000,
Machinery 50,000 and Creditors 25,000.
His position on 31.12.2015 was as follows:
Cash at bank 4,000; Stock 25,000; Debtors 45,000
Machinery 50,000 and Creditors 25,000.
During the year he Introduced 10,000 as further capital and
with drew from business { 3,000 per
month.
From the above information ascertain the profit or loss mad
by Mr. Ravi Kumar for the year ended 31st Dec. 2015.
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