Sarthaks Test
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a. Mohan started a business on 1 April 2014 with a capital of Rs.10,000 and borrowed Rs.3,000 from a friend. He earned a profit ofRs.5,000 during the year ended 31 march, 2013 and withdrew cash Rs.4,000 for private use. What is his capital on 31 March, 2015? 

b. Mahesh started a business with capital of Rs.15,000 on 1 April, 2014. During the year he made a profit of Rs.3,000. He owes Rs.2,500 to suppliers of goods. What is the total of assets in his business on 31 March, 2015

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a.Capital on March 31,2015 = Capital on April 01,2014 + profit - Drawings

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