Question

Trial Balance Information: 10% Loan to Friend Rs 1,00,000; 8% Loan from Brother Rs 2,00,000; Interest on ‘Loan to Friend’ Rs 6,000; Interest on ‘Loan from Brother’ Rs 10,000; Discount (Cr) Rs 5,000; Rent Rs 60,000; Provision for Bad debt Rs 8,000; Bad debt Rs 1,000; Commission (Cr) Rs 15,000; Gross Profit Rs 25,000. Additional Information: 1. Bad debts Rs 1,000 and Provision needed for Bad debts Rs 3,000. 2. Goods worth Rs 5,000 were given as charity. 3. Interest on Drawings Rs 2,000. Calculate the amount of Net Profit /Loss​

Answer 1

Answer:

IN ABOVE 2 ATTACHMENT SEE UR ANSWER ..

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