Following information is supplied to you by a shopkeeper 5 marks 1st April 2017 31st ...........

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

Following information is supplied to you by a shopkeeper: (5 marks)

	1st April 2017	31st March 2018
Cash	Rs.6,000	Rs.7,000
Sundry Debtors	68,000	64,000
Stock	59,000	87,000
Furniture	15,000	13,500
Sundry Creditors	20,000	18,000
Bills Payable	15,000	11,000

During the year he withdrew Rs.2,500 per month for domestic purpose. He also borrowed from a friend at 9% a sum of Rs.20,000 on 1st October 2017. He has not yet paid the interest. A provision of 5% on debtors for doubtful debts is to be made. Ascertain the profit or loss made by him during the period.

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