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Radhey, who keeps his books on Single Entry System, gives you the following information: Particulars1.1.201131.12.2011(Rs)(Rs)Assets:Stock-in-Trade18,70023,400Sundry Debtors12,00014,000Bills receivalbe4,0005,000Furniture600600Building12,00012,000Bank Balance4,350−Liabilities:Sudry Creditors9,0001,500Payable1,000200Bank Overdraft−3,350 You are required to calculate Profit by preparing statement of profit or Loss. |
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Answer» Radhey, who keeps his books on Single Entry System, gives you the following information: Particulars1.1.201131.12.2011(Rs)(Rs)Assets:Stock-in-Trade18,70023,400Sundry Debtors12,00014,000Bills receivalbe4,0005,000Furniture600600Building12,00012,000Bank Balance4,350−Liabilities:Sudry Creditors9,0001,500Payable1,000200Bank Overdraft−3,350 You are required to calculate Profit by preparing statement of profit or Loss. |
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