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Surya does not keeps a systematic record of his transactions. He is able to give you the following information regarding his assets and liabilities: Bad Debts during the year were Rs. 900. As regards sale, Surya tells you that he always sells goods at Cost plus 25%. Furniture and Fittings are to be depreciated at 10% of the value in the beginning of the year. Prepare Surya's Trading and Profit and Loss Account for the year ended 31st March, 2019 and his Balance Sheet on that date. |
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Answer» 2. Total Sales = Cost of Goods Sold + `25%` of Cost of Goods Sold 3. CREDIT Sales = Total Sales - Cash Sales. |
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