Chapter 5 – Accounting Equations – TS Grewal 2022
Question 24
Mohan start businnes on 1st april, 2021 with a capital of ₹25,000 and a loan of ₹12,500 borrowed from Shyam. During 2021-22, he had introduced additional capital of ₹12,500 and had withdrawn ₹7,500 for personal use. On 31st March, 2022, his assets were ₹75,000. Find out his capital as on 31st March, 2022 and profit made or loss incurred during the year 2021-22.
Solution:
Mohan started a business on 1st April
