MGT101-GDB Spring 2010

[+ M.Tariq Malik]

Mr.  Raheem is running a business. His balance sheet on 1st December 2010 shows a capital balance of Rs. 10,000.
 
Following few transactions took place in the month of December.
 
He drew cash from business Rs. 400
Mr. Raheem Sold merchandise for cash Rs 2000 costing Rs. 1800(Profit Rs. 200)
During the month he made additional investment in business Rs. 1200.
 
Required:
 
Give straight answer of the capital account showing:
 
Whether capital account has debit balance or credit balance on 31st December 2010
Amount of the capital account balance.
 
NOTE: You are not required to show the capital account in answer. You are supposed to draw capital account on rough sheet and give straight one line answer in which you have to mention two things debit or credit balance of capital account  and amount of balance.
 
And your answer should be like this ( _____ balance amount Rs. _______ )
 
Be specific and to the point. Only provide one line answer as given above.

 

 

 

Please Discuss Here about this GDB. Thanks

 

 

[Faizan Asif Shad]

Yeh bhi mushkil hai kia???????????????
Credit balance amount Rs.11,000
Aish Karoooooooooooooooooooooo

[rabia ghias]

ap ye b samja o k kase 11,000 ata ha

[Fawad ul hussan]

Credit Balance is of Rs.11,000 may be the answer

[M. Alamgir]

mine is also 11000 ... but i dont know ow the ans can be 10800 ... plz dear show ur calculation

[Faizan Asif Shad]

Capital Balance (Credit) 10000
Add: Profit 200
Add: Investments 1200
Less:Drawings (400)
___________
Capital Balance (Credit) 11000

Any Problem !!!!!!!!!!!!!!

[M. Alamgir]

see 1st GDB solution

[Taim]

Yup answer is Credit balance Amount Rs. 11000

[+ M.Tariq Malik]

Idea solution of MGT101

[Faizan Asif Shad]

may nai kia farsi may kaha tha??????????

[genial ONE]

nahi........... jaldi me kaha tha, hosla karo. they are taking their time,u just relax...

[+= rav3n =+]

Thanx a lot dudes for al your help over here .

[Muhammad Shakeel]

100 % Final and Authentic Answer : Credit Balance Amount Rs. 11,000

SHakeEL
Sharjah Computers
50-F Khan Plaza Multan Cantt.