Chapter 1: ACCOUNTING FOR INCOMPLETE

RECORDS OR SINGLE ENTRY

EXERCISE # 1
Statement of Profit & Loss
Problem 1.1: (FY: 2015-R/P) Find the missing values:
1. Find Profit and loss, if capital at start were Rs.43000, capital at end Rs.45000, Drawing Rs.14000
and capital additionally invested during the year Rs.20000.
2. Find Capital at start, if Capital at end is Rs.87000, Drawing Rs.13000 and capital additionally
invested during the year Rs.21000, Profit for the year Rs.23000.
3. Find Drawing, if Capital at start Rs.20000, Additional investment Rs.8000, Profit for the year
Rs.12000, Capital at end Rs.25000
4. Find Capital at end, if Capital at start Rs.50000, Drawing Rs.18000, Additional investment
Rs.10000, Loss during the year Rs.10000.
5. Find Additional investment if Capital at start Rs.25000, Capital at End Rs.30000, Drawing Rs.12000
and unadjusted profit Rs.5200.

Problem 1.2: (FY: 2019-R/P) Mr. Saleem maintains his accounting records on single entry basis. His
capital balances as on January 1, 2019 is Rs. 180,000. The financial position as on December 31, 2019
is as under;

Cash Rs.75000
Account receivable Rs.70000
Merchandise inventory Rs.50000
Furniture Rs.30000
Equipment Rs.20000
Accounts payable Rs.25000
Data for adjustments as on December 31, 2019 was as under:
i). Mr. Saleem made additional investment of Rs.40000.
ii) He had withdrawn Rs.20000 and Rs.25000 for personal and business use respectively.
iii) Depreciation on Furniture and Equipment for the year Rs.5000 and Rs.4000 respectively.
iv) Outstanding salaries at the year end Rs.10000.
v) Commission accrued Rs.2000

REQUIRED: Prepare statement of profit and loss for the year ended December 31, 2019.

Problem 1.3: (FY: 2011-P) Shareef & Sons started his business on January 1, 2019, with an
investment of Rs.250,000/- and kept his business accounting records on single entry basis. On
December 31, 2019, the following information is available from the accounting records:

Cash Rs.60,000/-
Merchandise Inventory Rs.80,000/-
Accounts Receivable Rs.70,000/-
Equipment Rs.140,000/-
Accounts Payable Rs.30,000/-
Notes Payable Rs.20,000/-
Supplementary Data for the adjustment on December 31, 2019
i) Withdrew Rs.1,000/- per month cash from the business for his personal use and made
additional investment of Rs.10000.
ii) Depreciation on equipment is Rs.15,000/-
iii) Bad Debts at 5% of Accounts Receivable
iv) Prepaid Salary is Rs.3,000/-

REQUIRED: Prepare a statement of profit and loss for the year ended on December 31, 2019.

Problem 1.4: (FY: 2002-R) Azmat started business with cash investment of Rs.100,000 on January 1,
2019. He keeps his accounting records on Single Entry basis. On December 31, 2019, the following
information is obtained from his accounting records:
Cash at Bank Rs. 25,500
Accounts Receivable 55,000
Merchandise Inventory 40,000
Unexpired insurance 2500
Furniture 30,000
Office Equipment 60000
Accounts Payable 39,000
Additional Information on December 31, 2019.
i) Azmat withdraw Rs.2,500 per month during the year for his personal use.
ii) He invested additional capital of Rs.25,000 during the year.
iii) The Bank Statement showed a debit of Rs.750 for Zakat deduction and a credit of Rs.1,200 for
bank profit.
iv) Insurance expired Rs.1,500.
v) Depreciation on Furniture was estimated at 20% and on office equipment at 10%.
vi) Bad debts were estimated at 5% of accounts receivable.

REQUIRED: a) Prepare a Statement showing the calculation of Capital on December 31, 2019
b) Prepare Statement of Profit and loss for the year ending December 31, 2019.

Problem 1.5: (FY: 2018-R/P) Amjad started business on Aug. 1, 2019, with a cash investment of
Rs.600,000 and keep the records under single entry basis. Dec 31, 2019 following balance were
found:
Cash Rs.40.000, Account Receivable Rs.80,000, Merchandise inventory Rs.100,000,
Accounts Payable Rs.30,000 , Loan Payable Rs.50,000, Land Rs.200,000, Building Rs.400,000 and
Equipment Rs.60,000.
Additional Information as on December 31, 2019
1. Mr. Amjad additionally introduced Rs.30,000 during the period and withdrew Rs.10,000 monthly.
2. Allowances for Bad Debts was estimated at 5%.
3. Depreciation was charged at 12% of the cost of fixed assets annually.
4. Salaries were unpaid Rs.5,000 and prepaid Rs.8,000.
5. Commission was unearned Rs.2000 and earned but not received Rs3000.

REQUIRED: Prepare statement of profit and loss for the year ended December 31, 2019.
Problem 1.6: (FY: 2013-R) Asif maintains his record under Single entry system. On April 01, 2019 he
started his business with cash investment of Rs.700,000/- under the name ‘Asif Traders’. His business
financial position on Dec. 31, 2019 was as follows:
Cash Rs.200,000/-, Account Receivable Rs.120,000/-, Furniture Rs.300,000/-, and Merchandise
inventory Rs.480,000/-, Shop Rs.500,000/-, Account Payable Rs.150,000/-.
Additional information on December 31, 2019:
i) Asif sold a plot costing Rs.200,000/- for Rs.500,000/- cash and invested the entire amount in
business.
ii) He paid utility bills Rs.5,000/- P.M. for his residence.
iii) Salary prepaid Rs.10,000/- and accrued Rs.20,000/-
iv) Depreciation on furniture @ 10% per annum.
v) Bad debt expense was estimated at 3% of Account Receivable.

REQUIRED: Prepare a profit or loss statement for the period ended Dec. 31, 2019.

Problem 1.7: (FY: 2016-R/P) Suleman started a business with cash investment of Rs.200000 and
office equipment of Rs.120000 on January 1, 2019 under the name ‘Suleman trading Co’. He
maintains accounts on single entry basis. On December 31, 2019 the following information was
extracted from his accounting records:
Cash on hand Rs. 90000, Account receivable Rs.70000, Merchandise inventory Rs.110000, Office
supplies Rs.25000, Office equipment Rs.120000, Accounts payable Rs.25000, Notes payable
Rs.10000.
On December 31st the following information is made available:
i) Withdrew cash for personal use Rs.2000 per month from March 1st, 2019.
ii) Made additional investment of Rs.3000 on July 1st, 2019.
iii) Office supplies used during the year Rs.10000.
iv) Depreciation on Office equipment Rs.12000.
v) Prepaid salaries Rs.5000.

REQUIRED: Prepare a Statement of Profit and loss for the year ending on December 31, 2019.

Problem 1.8: (FY: 2007-R/P) Saad maintains his accounting records on single entry basis under the
name ‘Saad Fair Trade’. The information given below has been extracted from his business books of
accounts
Jan 1. 2019 Dec 31, 2019
Cash Rs.15.000/- 10,000/-
Account receivable 25,000/- 40,000/-
Merchandise inventory 30,000/- 50,000/-
Supplies 1,000/- 3,000/-
Equipment 40,000/- 120,000/-
Account payable 11,000/- 23,000/-
Additional Information on Dec 31, 2019:
i) Saad made an additional investment of Rs.60,000/-
ii) Depreciation on equipment Rs.10,000/-
iii) Saad withdrew Rs.1,000/-per month during the year from the business.
iv) Prepaid Advertising Rs.4,000/-
v) Accrued Commission income Rs.15,000/-
vi) Outstanding utility bills Rs.9,000/-
vii) Taxes Payable Rs.2,000/-
REQUIRED: Prepare a Statement of Profit and Loss for the year ended Dec. 31, 2019.
Problem 1.9: (FY: 2017-R/P) Khan traders maintains single entry records. The assets and liabilities of
the business are as follows:
01-01-2019 31-12-2019
Cash 18000 15000
Account receivable 20000 30000
Machinery Nil 25000
Account payable 30000 40000
Bank overdraft Nil 15000
Other information on 31-12-2019
i) He made additional investment of Rs.5000 during the year.
ii) Estimated allowance for bad debts Rs.1250
iii) Depreciation on fixed assets estimated at 10 %
iv) Accrued interest on bank overdraft Rs.300

REQUIRED: (a) Compute the capital at start and capital at end.

(b) Prepare statement of profit or loss for the year.

Problem 1.10: (FY: 2002-P) Shireen keeps her books on single entry system. Her business financial
position is as under:-
Jan 1, 2019 Dec. 31, 2019
Cash Rs.500,000/- Rs.700,000/-
Accounts Receivable Rs.200,000/- Rs.300,000/-
Merchandise Inventory Rs.300,000/- Rs.400,000/-
Furniture / Fixture Rs.250,000/- Rs.250,000/-
Accounts Payable Rs.250,000/- Rs.100,000/-
Bank Loan ------- Rs.50,000/-

During the year, she withdrew cash Rs.100,000/- and merchandise costing Rs.50,000/- for her
personal use and invested in the business an additional amount of Rs.250,000/- in cash.

The following were the year and adjustment on Dec. 31, 2019.
i) Accrued salary Rs.15,000/-
ii) Accrued interest on Bank Loan Rs.6,000/-
iii) Accrued income Rs.25,000/-
iv) Depreciate non-current asset @ 4% p.a.
v) Bad debts expense is estimated at Rs.5,000

REQUIRED: Prepare a Statement of Profit & Loss for the year ended Dec. 31, 2019.
Statement of Affairs
Problem 1.11: (FY: 1994-R/P) Salman started his business under the name ‘Salman Brothers’ on
January 1, 2019 with a cash investment of Rs.20,000 and kept his business accounting records on
Single Entry basis. On December 31, 2019 (end of accounting year) the following information is
available from the accounting records:
Cash Rs. 5,000
Accounts receivable 15,000
Merchandise inventory 10,000
Office equipment 10,000
Accounts payable 5,000
Supplementary data for adjustment on December 31, 2019
i) Salman made an additional investment of Rs.5,000 in the business during the year.
ii) He withdrew Rs.1,000 cash from the business for his personal use.
iii) Prepaid Rent is Rs.800.
iv) Depreciation on Office Equipment is to be made at 10%.
v) Bad debts are estimated at 3% of Accounts Receivable on December 31, 2019.
vi) Accrued Salary expense amounted to Rs.1,000.

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019(Net Profit for the year is
Rs.9350)

Problem 1.12: (FY: 1992-R/P) Azmat started business under the name ‘Azmat Co’ with a cash
investment or Rs.100,000 on January 1, 2019. He keeps his accounting records on Single Entry basis.
On December 31, 2019, the following information was obtained from his accounting records:
Cash at Bank Rs. 25,500
Accounts Receivable 55,000
Merchandise Inventory 40,000
Unexpired Insurance 2,500
Office Equipment 60,000
Furniture 30,000
Accounts Payable 39,000
Additional Information on December 31, 2019
i) Azmat withdraw Rs.2,500 per month regularly during the year for his personal use.
ii) He invested cash Rs.25,000 during the year.
iii) The Bank Statement showed a debit of Rs.750 for Zakat and a credit of Rs.1,200 for profit.
iv) Insurance expired Rs.1,500.
v) Depreciation on Furniture was estimated at 20% and on office equipment at 10%
vi) Bad debts were estimated at 5% of accounts receivable.

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019 (Net Profit Rs.63200)
Problem 1.13: (FY: 2011-R) Asim started a business ‘Asim Traders’ with a cash investment of
Rs.900,000/-. He keeps his accounting records on single entry basis. On December 31, 2019 the
following information was obtained from his accounting records:
Cash at Bank Rs.100,000/-
Accounts Receivable Rs.450,000/-
Merchandise Inventory Rs.320,000/-
Building Rs.1,500,000/-
Account Payable Rs.370,000/-
Additional Information on December 31, 2019:
i) He paid utility bills Rs.15,000/- per month for his residence from business funds.
ii) He sold a personal flat costing Rs.450,000/- for cash Rs.1,200,000/- cash which he invested in
the business.
iii) Bad debts were estimated at 5% of Accounts Receivable.
iv) Depreciation was estimated at 10% on building.

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019

(Net loss from business for the year ended December 31, 2019 was Rs.92,500/-).

Problem 1.14: (FY: 2014-R) Nadir invested cash Rs.150000 in his business ‘Nadir Co’ on August 5,
2019. On December 31, 2019 the position of his assets and liabilities is as under:
Cash Rs.180000, Office supplies Rs.30000, Merchandise Rs.50000 and Furniture Rs.85000, payable to
suppliers Rs.120000 and receivables from customers Rs.70000
Data for adjustments:
i) Made additional investment Rs.5000 per month for four months.
ii) Nadir withdrew some merchandise at cost Rs.15000 for his home.
iii) Depreciation on furniture Rs.15000.
REQUIRED: Prepare a Statement of affairs as on December 31, 2019.
(Net income for the period was Rs.125000)

Problem 1.15: (FY: 2007-R/P) Saad maintains his accounting records on single entry basis for his
business ‘Saad Store’. The information given below has been extracted from the books of accounts:
Jan 1. 2019 Dec 31, 2019
Cash Rs.15.000/- 10,000/-
Account receivable 25,000/- 40,000/-
Merchandise inventory 30,000/- 50,000/-
Supplies 1,000/- 3,000/-
Equipment 40,000/- 120,000/-
Account payable 11,000/- 23,000/-
Additional Information on Dec 31, 2019:
i) Saad made an additional investment of Rs.60,000/-
ii) Depreciation on equipment Rs.10,000/-
iii) Saad withdrew Rs.1,000/-per month during the year from the business.
iv) Prepaid Advertising Rs.4,000/-
v) Accrued Commission income Rs.15,000/-
vi) Outstanding utility bills Rs.9,000/-
vii) Taxes Payable Rs.2,000/-

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019 (Net Profit Rs.50000)
Problem 1.16: (FY: 2010-R/P) Following balances have been extracted from the books of Umer
Traders who started business on September 1, 2019:
Sep 1, 2019 Dec 31, 2019
Cash Rs.120,000 250,000
Office supplies 15,000 20,000
Furniture 40,000 85,000
Prepaid Rent 15,000
Account receivable 27,000
Accounts payable 25,000
Unearned commission 18,000
Additional information on December 31, 2019
i) Accrued Salaries Rs.5,000
ii) Prepaid Rent Rs.2,500
iii) Unearned commission Rs.3,000
iv) Umer withdrew cash of Rs.700 per month at the last date of each month for his personal use.

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019

(Net profit earned by Umer Traders for the year ended December 31, 2019 was Rs.179,300)

Problem 1.17: (FY: 2012-P) Akram maintains his books on single entry. The following information was
available from his books.
March 1, 2019 December 31, 2019
Cash in hand ? Rs.37,500/-
Cash at bank Rs.30,000/- Rs.120,000/-
Account Receivable Rs.135,000/- Rs.172,500/-
Merchandise Inventory Rs.150,000/- Rs.245,000/-
Office equipments Rs.300,000/- Rs.300,000/-
Accounts payable Rs.54,000/- Rs.75,000/-
Bank Loan Rs.70,000/- ----
Mr. Akram’s capital Rs.500,000/- ?

Additional information at December 31, 2019:

i) During the year, Akram withdrew Rs.3,000/- pm for personal use and Rs.30,000/- for business
use.
ii) Depreciation expense on office equipment was estimated at Rs.30,000/-.

REQUIRED: i) Compute cash on March 1, 2019 and capital of Dec 31, 2019.
ii) Prepare a statement of affairs on December 31, 2019 (If net income is Rs.300,000)
 ASSIGNMENT # 1
Q1: (FY: 2004-R/P) Information given below has been extracted from the books of Ali who maintains
his accounting records on single entry system.
Jan 1, 2019 Dec 31, 2019
Cash 3000 5000
Accounts Receivable 10000 15000
Merchandise Inventory 20000 50000
Office Equipment 15000 15000
Office Furniture 20000 20000
Accounts Payable 8000 5000
Adjustment Data on December 31, 2019:
i) Additional Investment Rs10000
ii) Withdrawals Rs 500 pm for personal use.
iii) Estimated depreciation expense 10% on Fixed Assets.
iv) Rent Rs.2000 pm outstanding since Nov. 01, 2019.
v) Prepaid advertising Rs.5000
vi) Bad debts were estimated to be 5% of account receivable.

REQUIRED:
a) Compute the amount of Capital on Jan1, 2019 and Dec.31, 2019.
b) Prepare a Statement of Profit or Loss for the year ended Dec.31, 2019.
c) Prepare a Statement of Affairs as on Dec.31, 2019.

Q2: (FYA: 2014-P) Suleman, a general merchant, maintains his accounting records on single entry
basis. He supplied the following information for the year 2019:
1.1.2019 31.12.2019
Cash 30,000 39,000
Accounts receivable 6,000 24,000
Merchandise 18,000 27,000
Office equipment 15,000 36,000
Accounts payable 9,000 12,000
Capital ? ?
Additional Information: Unpaid commission Rs.5,600; Additional investment during the year
Rs.45,000; Depreciation on office equipment 10%; Prepaid rent Rs.2,000. Withdrew cash Rs.1000 for
personal use.

REQUIRED:
(i) Prepare a statement of profit for the year ended 31.12.2019.
(ii) Prepare a statement of affairs as on December 31, 2019
Q3: (FY: 2013-P) Imran started his business ‘Imran Co’ on March 1, 2019 with a cash investment of
Rs.50000. He kept his accounting records on single entry basis. On December 31, 2019, the following
information is available:
Cash Rs.15000, Account Receivable Rs.30000, merchandise inventory Rs.25000, Office equipment
Rs.40000, Account payable Rs.20000.

Additional information:
i) He withdrew Rs.1000 cash per month from the business for his personal use.
ii) He made an additional investment of Rs.10000 in his business.
iii) Accrued salaries amounted to Rs.2500.
iv) Office Equipment is to be depreciated @ 12% per annum.
v) Prepaid rent is Rs.1500.

REQUIRED: Prepare a statement of Profit and loss for the year ended December 31, 2019

Q4: (Model Paper) On January 1, 2019 Ali started business ‘Ali Traders’ with a cash investment of
Rs.300,000 and maintained accounting record of his business on single entry basis. On December 31,
2019 assets and liabilities of his business were: Cash Rs.125,000; Accounts Receivable Rs.250,000;
Office Equipment Rs.150,000; Notes Payable Rs.100,000; Accounts Payable Rs.135,000.

Additional Data on December 31, 2019

During the year he made an additional investment of Rs.100,000 and withdrew Rs.15,000 per month
for personal use. 10% of accounts receivable was estimated to be uncollectible, accrued salaries
amounted to Rs.20,000 and prepaid rent was Rs.15,000.
(Statement of profit / loss shows a net profit for the year ended Dec 31, 2019 of Rs.40,000)

REQUIRED: Prepare a Statement of Affairs as on December 31, 2019

 REVISION OF CHAPTER-1
Accounting for Incomplete Record/Single Entry
Q1: On April 1, 2019 Ahmad started business ‘Ahmad Co’ with an investment of Rs.100000 and
decided to maintain accounting records on single entry basis. On Dec. 31, 2019 Assets and Liabilities
of his business are:
Cash at Bank Rs 25500
Accounts Receivable 55000
Merchandise Inventory 40000
Unexpired Insurance 2500
Office Equipment 60000
Accounts Payable 39000
Additional data on December 31, 2019
i) During the year, he made an additional investment of Rs.25000 and withdrew Rs.2500 per
month regularly for his personal use during the period in question.
ii) Insurance expired during the period amounted to Rs. 1500.
iii) Depreciation was charged at 20% on office equipment.
iv) Bad debts were estimated to be 5% of account receivable.
v) The Bank Statement showed a credit of Rs.1200 for interest and a debit of Rs.750 for Zakat.
vi) Unpaid salaries Rs.3000
vii) Prepaid rent Rs.5000

REQUIRED:
i) Prepare a statement of Profit and Loss for the year ended December 31, 2019
ii) Prepare a statement of Affairs as on December 31,2019

Q2: Waqas, a sole trader, maintains his books of accounting on single entry basis. Following are the
data taken from his business books
Jan1, 2019 Dec 31, 2019
Cash at bank 50000 60000
Accounts Receivable 25000 30000
Merchandise Inventory 30000 40000
Furniture 20000 20000
Machinery 30000 40000
Accounts Payable 15000 20000
Bank Loan 20000 20000
Following are the Data for Adjustments:
i) Salaries outstanding Rs.3000
ii) Unexpired Rent Rs.1500
iii) Accrued Commission income Rs.4000
iv) Depreciation on fixed assets 10% p.a.
v) Accrued interest on bank loan is Rs.1000
vi) 5% of the Accounts Receivables was estimated to be uncollectible.
vii) Additional investment Rs.10000.
viii) Withdrew cash for personal use Rs.8000 and for office use Rs.10000.
ix) Unearned fee income Rs.2500

REQUIRED:
a) Prepare a Statement of Profit or Loss for the year ended December 31, 2019
b) Prepare a statement of Affairs as on December 31, 2019
 MULTIPLE CHOICE QUESTIONS
1. Under single entry system:
*only the Dr. amount is recorded *only the Cr amount is recorded
*Dr. or Cr amount and account is recorded *none of the above

2. The single entry system generates:

* A complete record * an incomplete record
* No accounting record * none of the above.

3. A profit or loss statement prepared under single entry system:

* Contains all the expense and revenue details.
* Contains no expense and revenue details.
* Contains partial revenue and expense data
* None of the above

4. The single entry as a system of accounting is most suitable to:

* A company * A partnership
* A sole proprietorship * None of the above

5. A profit or loss statement prepared under the pure single entry system shows:
* Gross Profit * Operating expenses
* Other income * only net profit or loss

6. The Statement of Affairs prepared under the single entry system shows:
* Assets, Liabilities and Capital * Expenses and Revenues
* Assets, Expenses and Capital. * All of the above

7. Which of the following items is added to the unadjusted profit on single entry basis?
* Accrued salaries * Prepaid rent
*Bad debts expense *Depreciation expense

8. If unadjusted profit of a business maintaining accounts on single entry basis is Rs.9,000 and
prepaid rent (the only adjustment) is Rs.4,000, net profit will be:
* Rs.13, 000 * Rs.9,000 * Rs.5,000 * none of these

9. If unadjusted profit of a business maintaining accounts on single entry basis is Rs.24,000 and
unearned commission (the only adjustment) is Rs.7,000, net profit will be:
* Rs.24,000 * Rs.31,000 * Rs.17,000 * none of these

10. Single entry system records:

* Double effect (Dr. or Cr.) of a transaction * Single effect (Dr. or Cr.) of a transaction
* Both of these * None of these.

11. Which of the following is the correct equation for determining capital?
* Capital= Assets+ Liabilities * Capital= Assets + Expenses
* Capital= Income + Liabilities * Capital= Assets - Liabilities
12. Capital at end – Unadjusted profit +Drawings =……………………
*Capital at start * Interest on loan *Net profit *Interest on capital
13. In appearance the statement of affair is similar to:
*Balance sheet * Profit & Loss *Trading account *Statement of retained earning
14. Under Single entry system, statement of assets, liabilities and capital is called:
*Income statement * Statement of affairs
*Statement of retained earnings * Statement of Profit and Loss

15. If some additional capital Rs.5000 is injected during the year, ending capital will:
* Increase by Rs.5000 * Decrease by Rs.5000 * Remain unchanged * multiply by Rs.5000

16. If ending capital was Rs.5000 additional investment Rs.3000, Drawing Rs.300 per month for 6
months and profit during the year was Rs.1300 then the amount of capital at start will be:
* 1700 * 1600 * 3800 *2500

17. Unearned income shown in the balance sheet:

* Current assets * Current liabilities * Non-Current assets * Owner’s equity
18. This is shown as a liability:
* Advance from customer * Loan to employee *Accrued rent income * Unexpired insurance
19. Capital at end – Capital at start:
* Net-Income * unadjusted Income/Loss * Sales * Commission income

20. In which of the following systems of recording the financial statements reflect true and fair view
of an entity and accounting records are considered to be more accurate.
* Single entry system * Double entry system * Cash base system *None of these

21. Capital is also known as:

* Debtors * Internal equities * External equities * None of these

22. If a journal entry consist more than one debit and one credit account, the entry is called:
* Single entry * Compound entry * Simple entry * None of these

23. If a journal entry consists of one debit and one credit account, the entry is called:
* Single entry * Compound entry * Simple entry * None of these

24. If the opening capital is Rs. 4125, ending capital is Rs. 2830 and drawing is Rs. 825, then net
income/loss will be:
* Rs.470 * Rs.570 * Rs.670 * Rs.770