Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
10.9k views
in Accounts by (64.4k points)

Raj tells you that his capital on 31st December, 2003 is Rs.18,700 and his capital on 1st January, 2003 was Rs.19,200. He further informs you that during the year he gave a loan of Rs.3,500 to his brother on private account and withdrew Rs.300 p.m. for personal Purposes. He also used a flat for his personal purpose, the rent of which @ Rs.100 per month and electricity charges at an average rate of Rs.10 per month were paid from the business account. During the year he sold his 7% Government Bonds of Rs.2,000 at 2% Premium and brought that money into the business. You are required to prepare a Statement of Profit or Loss for the year ended 31st December, 2003.

1 Answer

0 votes
by (106k points)
selected by
 
Best answer

Statement of profit or Loss for the year end December 31,2003

Working Notes 

Calculation of Drawings made during the year

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...