Balance sheet - Help

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  1. INDIAN

    INDIAN New Member

    Please help in getting this balance sheet right as on 31Mar16…

    Here is the info available for BS:

    Proprietor capital into the business (at the beginning of the year in bank account)= Rs.10000
    Liabilities = Nil
    Fixed asset (depreciated cost of the laptop) = Rs.20000
    Amount moved to personal account (personal drawing) from business earnings (How to account this in balance sheet?) = Rs. 150000
    Cash in hand (Bank balance as on 31Mar16) = Rs.93000

    Information from P&L for FY:

    Revenue = Rs.233000
    Expenses = Rs.20000 (made thru personal account – should this be additional proprietor capital?)
    Depreciation = Rs.20000
    Profit before tax = 193000
    Provision for tax/ deferred tax = 0
    So Profit after tax = 193000

    Please help complete this balance sheet (asset and liabilities sides). Thanks.
     
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