mr raheem is running abusiness. his balancesheet on 1stdecember 2010 show a capi

Question

mr raheem is running abusiness. his balancesheet on 1stdecember 2010 show a capital blance of Rs. 10,000. following few transactions took place in the month ofdecember. he drew cash form business Rs. 400 Mr. raheem sold merchandisefor cash 2000 costing Rs.1800(profit Rs. 200) during the month he made additional investmeut inbusiness Rs.1200. Requird whether capital account has dabit balance or credit blance on31st december 2010. amount of the capital account balance mr raheem is running abusiness. his balancesheet on 1stdecember 2010 show a capital blance of Rs. 10,000. following few transactions took place in the month ofdecember. he drew cash form business Rs. 400 Mr. raheem sold merchandisefor cash 2000 costing Rs.1800(profit Rs. 200) during the month he made additional investmeut inbusiness Rs.1200. Requird whether capital account has dabit balance or credit blance on31st december 2010. amount of the capital account balance

Explanation / Answer

Capital    = Cr. 10,000 Cash Withdrawal = Dr.400 Profit    = Cr. 200 Additional Capital = Cr.1,200
Add credit amounts and less the debitamount.
Answer = Credit balance with amount rs.11,000

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.