Mr Arnav does not keep proper records of his business he provided following information yo...........

Accountancy (11th) Chapter-11 Accounts from Incomplete Records

Mr. Arnav does not keep proper records of his business he provided following information, you are required to prepare a statement showing the profit or loss for the year. (5 marks)

	Rs
Capital at the beginning of the year	15,00,000
Bills receivable	60,000
Cash in hand	80,000
Furniture	9,00,000
Building	10,00,000
Creditors	6,00,000
Stock in trade	2,00,000
Further capital introduced	3,20,000
Drawings made during the period	80,000