Question

Miss. Singh is a Jockey and businesswomen, determines her net income at 5,20,000 'under cash basis'. She also provides the following information for 2014-15

Credit sales

credit purchases

outstanding expenses

Rental income received in advance

20,500

12000

5000

4200

Determine the net income earned by Miss. Singh under 'Mercantile Basis'.​

Answer 1

Answer:

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