13. (a) Yogesh commenced business on 1st April, 2017 with a Capital of ₹5,00,000 and a loan of ₹1,00,000 borrowed from Citi Bank. On 31st March, 2018, his assets were ₹8,00,000. Calculate his closing capital and profits earned during the year.

(b) If in the above case, the proprietor had introduced fresh capital of ₹40,000 and had withdrawn ₹10,000 for personal purposes, calculate his profits.

(Delhi 2019)