The capital in a business on 1st January and 31stJanuary is Rs. 17,000 and Rs. 17,200 respectively. Investment by owner and withdrawal by owner during January amount to Rs. 1,000 and Rs. 700 respectively. What is the net income for January?
A. Rs. 100 (Loss)
B. Rs. 300
C. Rs. 200
D. Rs. 500
Answer: Option A
This Question Belongs to Commerce >> Accounting
Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Join The Discussion