Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31,
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Manveer started his business on January 01, 2005 with a capital of Rs. 4,50,000. On December 31, 2005 his position was as under:
He owned Rs. 45,000 from his friend Susheel on that date. He withdrew Rs. 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended December 31, 2005.
Transcribed Image Text:
Cash Bills receivable Plant Land and Building Furniture Rs. 99,000 75,000 48,000 1,80,000 50,000
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