Particulars
|
1.4.13
|
31.3.14
|
Cash
Bank
Stock
Debtors
Creditors
Plant and machinery
Furniture and fitting
|
10,000
20,000
16,000
24,000
15,000
60,000
18,000
|
16,000
36,000
24,000
30,000
18,000
90,000
18,000
|
Liability
|
1-4-13
|
31.3.14
|
Assets
|
1.4.13
|
31.3.14
|
Capital
(Bal. Fig.)
|
133000
|
196000
|
Cash
|
10000
|
16000
|
Creditors
|
15000
|
18000
|
Bank
|
20000
|
36000
|
|
|
|
Stock
|
16000
|
24000
|
|
|
|
Debtors
|
24000
|
30000
|
|
|
|
Plant and Machinery
|
60000
|
90000
|
|
|
|
Furniture and Fittings
|
18000
|
18000
|
|
148000
|
214000
|
|
148000
|
214000
|
Particulars
|
Rs.
|
Rs.
|
Capital at the end of the
year
|
|
196000
|
Add: Drawings:
|
|
|
Cash Withdrawn
Stock
|
8000
2000
|
10000
|
|
|
206000
|
Less: Additional Capital Introduced
|
|
|
Household furniture sold and
proceeds utilized for business
|
|
-2000
|
|
|
204000
|
Less: Capital at the beginning
of the year
|
|
-133000
|
Trading Profit
|
|
71000
|
Less: Depreciation
|
|
|
On Plant and Machinery
On Opening Machinery
60000 × 10%× 12 months
|
6000
|
|
On Additional Machinery
30000 × 10% × 6 months
|
1500
|
|
On Furniture
18000 × 5%
|
900
|
-8400
|
|
|
62600
|
Less: Bad debts
|
|
-2000
|
|
|
60600
|
Less: R.D.D. @ 10% on debtors
(30000 – 2000) × 10%
|
|
-2800
|
|
|
57800
|
Less: Stock overvalued
|
|
-2000
|
|
|
55800
|
Less: Interest on Capital
|
|
|
On Opening Capital
133000 × 5%
|
|
-6650
|
|
|
49150
|
Add: Interest on Drawings
On Cash drawings
8000 × 10% × 6 months
|
|
400
|
Net Profit
|
|
49550
|