Calculate the profit from the given information using the statement of affairs method.

Mr. A owns a general store and doesn't maintain books on the double-entry system. Capital as of 31 March 2020 is Rs. 75,000. Mr A withdrew Rs. 12,000 for personal use. He also introduced Rs. 12,500 as fresh capital in the business. On 31 March 2021, his assets and liabilities are as follows - total creditors worth Rs. 90,000 and debtors worth Rs. 1,26,500, stock valued at Rs. 24,570, and cash at bank Rs. 25,000.

1
Rs. 86,070
2
Rs. 12,570
3
Rs. 10,570
4
More than one of the above
5
None of the above

Sponsored

hivanix.in

Visit

This quiz is brought to you by hivanix.in

🌐 Web App Development

Quick Navigation