On 1St March, 2020 Ms. Sunita started business with:
Cash Rs27,000
Goods worth Rs9,000
Furniture Rs6,000
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Answer:
Statement of Profit or Loss
Particulars
Amount
(Rs)
Capital at the end
90,000
Add: Drawings
5,000
95,000
Less: Additional Capital Introduced
(10,000)
Adjusted Capital at the end
85,000
Less: Capital in the beginning
60,000
Net Profit for the year
25,000
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