Martin started business on 1st April, 2018 with a capital of $60,000.During the year, he sold his personal scooter for $
Posted: Tue Apr 26, 2022 9:42 am
- Martin Started Business On 1st April 2018 With A Capital Of 60 000 During The Year He Sold His Personal Scooter For 1 (96.43 KiB) Viewed 41 times
Martin started business on 1st April, 2018 with a capital of $60,000.During the year, he sold his personal scooter for $12,000 and deposited the money in his business bank account. He withdrew $400 p.m. from the business for his domestic use. Interest on capital was allowed to him $1,000 and interest charged on his drawings was $300. His capital as on 31st March, 2018 was $85,000. Find out his profits for the year 2017-18.