Mr Ashok does not keep his books properly Following information is available from his book...........

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

Mr. Ashok does not keep his books properly. Following information is available from his books. (3 marks)

	April. 01, 2016		March. 31, 2017
		Rs		Rs
Sundry creditors		45,000		93,000
Loan from wife		66,000		57,000
Sundry debtors		22,500		–
Land and Building		89,600		90,000
Cash in hand		7,500		8,700
Bank overdraft		25,000		–
Furniture		1,300		1,300
Stock	34,000		25,000

During the year Mr. Ashok sold his private car for Rs 50,000 and invested this amount into the business. He withdrew from the business Rs 1,500 per month upto October 31, 2016 and thereafter Rs 4,500 per month as drawings. You are required to prepare the statement of profit or loss and statement of affair as on March 31, 2017.

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