From the following details estimate the capital as on 31.03.2017. Capital as on 01.04.2016 - `4,10,000. Drawings `40,000, Profit during the year ` 50,000

Related MCQs

• From the following details estimate the capital as on 1.1.2012, Capital as on 31.12.2012 ` 2,40,000, drawing ` 20,000, Profit during the year ` 25,000
• From the following details estimate the capital as on 31.03.2013, Capital as on 01.04.2012 ` 2,05,000. Drawing ` 20,000, Profit during the year ` 25,000
• If opening capital is Rs.5,000; closing capital - Rs.7,000; drawings - Rs.1,000 and additional capital introduced during the year is Rs.500; then, the amount of profit made would amounted to
• If the opening capital is Rs.20,000 and closing capital is Rs.25,000; drawings made amounted to Rs.1,800; then, the amount of Rs.________ must be introduced as an additional capital during the year in order to earn a profit of Rs.2,800.
• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• From the following details find out the amount to be debited to Profit and Loss A/c as fresh provision for doubtful debts during 2012-13 Debtors ` 30,000 as on 31.03.2013; Bad debt during the year ` 1,500; Provision for bad debts as on 01.04.2012 ` 2,000; Provision for doubtful debts to be kept at 5% of total debtors
• From the following details calculate the net profit for the year ending 31.03.2013 Opening Stock ` 1,50,000; Purchase ` 2,50,000; Manufacturing Expenses ` 80,000; Selling Expenses ` 20,000; Administration Expenses ` 10,000; Financial Charges ` 5,000; Slaes ` 5,55,000 which includes damaged goods sold for ` 5,000 against the cost price of ` 12,000. Gross profit margin on normal sales is 20% on the sales
• The profits of the last three years is55000,50000,45000. Value of goodwill of 2 years purchase of average profit is Sol:
• Profit under the net worth method, when there are no drawings and no additional capital is the difference between:
• Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time