Question

Gagan commenced business as a cloth merchant on 1.4.2019, with a capital of Rs 100000. On the same day, he purchased furniture and fitting for cash Rs 30000. From the following particulars obtained from his books kept by single entry, you are asked to prepare a trading and profit and loss account for the year ending on 3st March 2020 and a balance sheet as on that date.
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Answer 1

Answer:

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