Prepare the statement of profit and loss

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Reference no: EM131207811

During the year mr. ashok sold his private car for 50000 and this amount invested in business he withdraw from business 1500 per month up to july 31st 2011 and thereafter 4500 per month as Drawing you are required to prepare the statement of Profit & loss and statement of affair as on 31st Dec,2011.

Jan-11
Creditor	45000
Loan	66000
Debitor	22500
cash	7500
building	89600
furniture	1300
stock	34000

Dec-11
Creditor	93000
Loan	57000
Debitor	Nil
cash	8700
building	90000
furniture	1300
stock	25000

Reference no: EM131207811

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