Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the
year ending 31st March, 2018.
| Particulars |
1.4.2017
Rs |
31.3.2018
Rs` |
| Bank balance |
14,000 (Cr.) |
18,000 (Dr.) |
| Cash in hand |
800 |
1,500 |
| Stock |
12,000 |
16,000 |
| Debtors |
34,000 |
30,000 |
| Plant |
80,000 |
80,000 |
| 80,000 |
40,000 |
40,000 |
| Creditors |
60,000 |
72,000 |
Ahmed had withdrawn 40,000 for his personal use. He had introduced ` 16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.
