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Prepare a specimen of a promissory note. |
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Answer» 1. Capital = Assets – Liabilities Rs. 1,20,000 = Rs. 4,00,000 – Rs. 1,80,000 2. Assets = Liabilities + Capital Rs. 3,30,000 = Rs. 1,50,000 + Rs. 1,80,000 3. Liabilities = Assets – Capital Rs. 3,20,000 = Rs. 6,00,000 – Rs. 2,80,000. |
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