Question

From the following information calculate Profit
for the year ended 31.03.2020
a) On Cash Basis
b) On Accrual Basis
• Sales 5,00,000 (out of which 1,00,000
was on credit basis)
• Expenses 3,00,000 (out of which 50,000
are still to be paid)


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Answer 1

Answer:

the profit of the year is 50000