Multiple choice

Capital introduced in the beginning by Dev = Rs. 20,000 Further capital introduced during the year = Rs. 2,000 Drawings Rs. 250 per month and closing capital Rs. 12,750.

The amount of Profit or Loss for the year will be

  1. Loss Rs. 6,250

  2. Loss Rs. 6,000

  3. Profit Rs. 2,000

  4. Data insufficient

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Loss = 20,000 + 2,000 - 12,750 = 6,250