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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

 

 

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Replies to This Discussion

Yeh bhi mushkil hai kia???????????????
Credit balance amount Rs.11,000
Aish Karoooooooooooooooooooooo
ap ye b samja o k kase 11,000 ata ha
Credit Balance is of Rs.11,000 may be the answer
mine is also 11000 ... but i dont know ow the ans can be 10800 ... plz dear show ur calculation
Capital Balance (Credit) 10000
Add: Profit 200
Add: Investments 1200
Less:Drawings (400)
___________
Capital Balance (Credit) 11000

Any Problem !!!!!!!!!!!!!!
see 1st GDB solution
Attachments:
Yup answer is Credit balance Amount Rs. 11000
Idea solution of MGT101
Attachments:
may nai kia farsi may kaha tha??????????
nahi........... jaldi me kaha tha, hosla karo. they are taking their time,u just relax...
Thanx a lot dudes for al your help over here .
100 % Final and Authentic Answer : Credit Balance Amount Rs. 11,000

SHakeEL
Sharjah Computers
50-F Khan Plaza Multan Cantt.

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