+2 votes
in Class 11 by kratos

Following information is supplied to you by a shopkeeper: During the year, he withdrew Rs 2,500 per month for dometstic purposes. 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 debotrs for doubtful debts is to be made. Ascertain the profit or loss made by him during the **.

1 Answer

+2 votes
by kratos
 
Best answer

Statement of Affairs As on April 01,2017

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