Ratnakar started business with capital of ₹ 2,50,000 on 1st July, 2020. During the year ended March 31, 2021

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Ratnakar started business with capital of ₹ 2,50,000 on 1st July, 2020. During the year ended March 31, 2021 he introduced additional capital of ₹ 1,00,000 and withdrew ₹ 5,000 per month for personal use. If the Capital as on March 31, 2021 was ₹ 3,80,000, calculate the amount of profit or loss made during the year by Ratnakar. 

Or 

Ranjan started business with capital of ₹ 3,50,000 on 1st April,2020. During the year ended March 31, 2021 he introduced additional capital of ₹ 2,00,000 and he bought motorcycle for personal use by taking out ₹ 80,000 from the business. If the firm made profits of ₹ 1,00,000 during the year ended March 31, 2021 then what was the amount of capital on March 31, 2021 ?


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Salim Ahmed Kawsar

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Statement of Profit or Loss

Particulars Amount (₹)
Closing Capital 3,80,000
Add :- Drawings (5,000 x 9) 45,000
Less:- Additional Capital (1,00,000)
Less:- Opening Capital (2,50,000)
Profit during the year 75,000

or

Particulars Amount (₹)
Opening Capital 3,50,000
Add :- Additional Capital 2,00,000
Less :- Drawings (80,000)
Add :- Profits during the year 1,00,000
Closing Capital 5,70,000

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