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Question
Following are the balances in the books of Thomas as on 31st March 2019.
| Particulars | ₹ | Particulars | ₹ |
| Sundry creditors | 6,00,000 | Bills payable | 1,20,000 |
| Furniture | 80,000 | Cash in hand | 20,000 |
| Land and building | 3,00,000 | Bills receivable | 60,000 |
| Sundry Debtors | 3,20,000 | Stock | 2,20,000 |
Prepare a statement of affairs as on 31st March 2019 and calculate capital as at that date.
Ledger
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Solution
Statement of Profit or Loss
| Liabilities | ₹ | Assets | ₹ |
| Sundry creditors | 6,00,000 | Cash in hand | 20,000 |
| Bills payable | 1,20,000 | Bills receivable | 60,000 |
| Capital | 2,80,000 | Stock | 2,20,000 |
| Furniture | 80,000 | ||
| Land and building | 3,00,000 | ||
| Sundry Debtors | 3,20,000 | ||
| 10,00,000 | 10,00,000 |
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