24. Mohan started a business on lst April, 2023 with a capital of ₹25,000 and a loan of ₹12,500 borrowed from Shyam. During 2023-24, he had introduced additional capital of ₹12,500 and had withdrawn ₹7,500 for personal use. On 31lst March, 2024, his assets were ₹75,000. Find his capital as on 31st March, 2024 and profit made or loss incurred during the year 2023-24.
T.S.Grewal/2024 Edition/Practical Problems/Q-24
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.