Question

A company which was incorporated on Ist May, 2019 acquired the business with effect from Ist January, 2019. The accounts of the company were closed for the first time on 30th September, 2019 disclosing gross profit of 84,000. The establishment chages were 21,330; Director fees 1,500 per month and preliminary expenses7 3,250; Rent upto 30th June, 2019 was 150 per month but there after it was increased to 375 per month.​

Answer 1

Answer:

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