Question - 07

Shri Ambrish keeps his books under single entry system his financial position on 1st Jan., 2000 was as follows :

Cash Rs. 250, Cash at Bank Rs. 1,000, Debtors Rs. 2,000, Stock Rs. 2,500, Funiture Rs. 750, Machine Rs. 3,000, Creditors Rs. 2,000, Bank overdraft Rs. 200.
He withdrew Rs. 450 during the year for his personal use and introdced Rs. 750 as further capital find out profit on 31st Dec., 2000 and prepare B/S of that date.