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Account from Incomplete Record The following balances appear in A's books which are kept on the single entry basis. 31st Dec. 1994 31st Dec. 1995
Account from Incomplete Record
The following balances appear in A's books which are kept on the single entry basis. 31st Dec. 1994 31st Dec. 1995 Capital 50,000 48,000 Creditors 30,000 35,000 80,000 83,000 Furniture Stock Debtors Bank account 5,000 50,000 20,000 5,000 4,500 46,500 23,000 9,000 80,000 83,000 A has been regularly transferring Rs. 600 a month from his business banking account to his private banking account by way of drawings. He has taken stock worth Rs. 1,500 for his private use. Depreciation on furniture has been provided at the rate of 10 per cent. You are required to calculate A's profit for 1995Step by Step Solution
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