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Create balance sheet for below information: Let s assume that Mr Abhik has started his own textile business. In order to commence the business, Mr

Create balance sheet for below information:
Lets assume that Mr Abhik has started his own textile business. In order to commence the business, Mr Abhik invested about 25,00,000 in land. To start the business operations, he opened an account in ICIB Bank with a deposit of 50,000, invested 10,00,000 in plant/equipment, procured supplies worth 8,00,000 and employed 10 workers in the factory. In order to gain the attention of the customers, he offered 60 days of credit period. The business generated total sales of 5,00,000, out of which 4,00,000 was still receivable. To motivate his workers, Mr Abhik also paid their one-month wages in advance, totalling 1,00,000. He found that by the end of the year, the supplies worth only 3,00,000 were in stock. Also, the bank balance was 65,000.

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