Question - 11

Pankaj agrwal is a businessman who maintain accounts in single entry system calculation profit or loss for the year 2009 from the given informations :

                                               1st April 2008                            31st March 2009

Plant                                         8,000                                              6,000

Funiture                                    2,000                                             2,000

Stock                                        7,000                                             5,000

Sundry Debtors                        4,000                                            4,500

Bank overdraft                     (Cr.) 200                                  (Dr.) 1,800

Sundry creditors                       5,000                                            3,500

During the year pankaj withdrew Rs. 4,100 (Home loan) for his daughter's marriage depreciation on plant @ 10% and on funiture @ 5% to be charged during the year pankaj agrwal invested Rs. 300 on 16th January 2009 as new capital in the business.