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Mr Girdhari Lal does not keep full double entry records His balance as on A...........

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

Mr. Girdhari Lal does not keep full double entry records. His balance as on April 01, 2016 is as. (5 marks)

Liabilities	Amount Rs	Assets	Amount Rs
Sundry creditors	35,000	Cash in hand	5,000
Bills payable	15,000	Cash at bank	20,000
Capital	40,000	Sundry debtors	18,000
		Stock	22,000
		Furniture	8,000
		Plant	17,000
	90,000		90,000

His position at the end of the year is:

	Rs
Cash in hand	7,000
Stock	8,600
Debtors	23,800
Furniture	15,000
Plant	20,350
Bills payable	20,200
Creditors	15,000

He withdrew Rs 500 per month out of which to spent Rs 1,500 for business purpose. Prepare the statement of profit or loss.

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