Following few transactions took place in the month of December.
He drew cash from business Rs. 400
Mr. Raheem Sold merchandise for cash Rs 2000 costing Rs. 1800(Profit Rs. 200)
During the month he made additional investment in business Rs. 1200.
Solution:-
| Debit | Credit | ||
| Drawing | 400 | Opening Balance | 10000 |
| Balance c/d | 11000 | Income (from selling of asset) | 200 |
| | | Capital (Additional Investment | 1200 |
| | 11400 | | 11400 |
Answer:- ( CREDIT balance amount Rs. 11000 )
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