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( ii ) Prepare the Income Statement and the Balance Sheet taking into consideration: 1 . Closing Stock as on 3 1 st December 2

(ii) Prepare the Income Statement and the Balance Sheet taking into consideration:
1. Closing Stock as on 31st December 2021 is 200,000.
2. Salary outstanding for the month of December is 30,000.
3. Depreciation @ 10% to be charged on Furniture & Fixtures and @15% on Plant &
Machinery.

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