5. Mohan, a retail merchant commenced business with a capital of Rs. 12,000 on 1.1.94. Subsequently on
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5.Mohan, a retail merchant commenced business with a capital of Rs. 12,000 on 1.1.94. Subsequently on 1.5.94 he invested further capital of Rs. 5,000. During the year, he has withdrawn Rs. 2,000 for his personal use. On 31.12.1994, his assets and liabilities were as follows:
Calculate the profit (or) loss made during the year 1994.
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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