Question

Mr Manik does not keep proper records of his
business. He provided following information
Items
Amt
Owner's equity at the beginning of the year 15.00.000
Bills Receivable
60.000
Cash in Hand
80.000
Furniture
9,00.000
Building
10,00.000
Creditors
6,00.000
Stock-in-Trade
2,00 000
Further capital introduced
320.000
Drawings made during the period
80.000


You are required to prepare a statement
showing the profit or loss for the year.​

Answer 1

Answer:

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