Page 5 - HA- SUBJECTIVE - Copy

Question 12:

Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to
know the results, of his business on 31st March, 2018 and for that following information
is available:

1st 31st

Particulars April, March,
2017 2018
(₹) (₹)
Cash in Hand .............................................................................. 1,50,00 1,75,00
.. 0 0
Bank Balance .............................................................................. 7,50,00 8,00,00
.. 0 0
Furniture .............................................................................. 1,00,00 1,00,00
.. 0 0
Stock .............................................................................. 5,00,00 6,50,00
.. 0 0
Creditors .............................................................................. 3,50,00 4,00,00
.. 0 0
Debtors .............................................................................. 2,50,00 3,00,00
.. 0 0

During the year, he had withdrawn ₹ 5,00,000 for his personal use and
invested ₹ 2,50,000 as additional cpaital. Calculate his profits on 31st
March, 2018 and prepare the Statement of Affairs as on that date.