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Mr. Akshat keeps his books on incomplete records. Following information is given below ItemsApril 1, 2004April 1, 2004Cash in hand1,0001,500Cash at bank15,00010,000Stock1,00,00095,000Debtors42,50070,000Business premises75,0001,35,000Furniture9,0007,500Creditors66,00087,000Bills payable44,00058,000 During the year, he withdrew Rs. 45,000 and introduced Rs. 25,000 as further capital in the business. Compute the profit or loss of the business.

Answer»

Mr. Akshat keeps his books on incomplete records. Following information is given below

ItemsApril 1, 2004April 1, 2004Cash in hand1,0001,500Cash at bank15,00010,000Stock1,00,00095,000Debtors42,50070,000Business premises75,0001,35,000Furniture9,0007,500Creditors66,00087,000Bills payable44,00058,000

During the year, he withdrew Rs. 45,000 and introduced Rs. 25,000 as further capital in the business.
Compute the profit or loss of the business.



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