Question
On January 1 20XX, Atika Sharma set up Smart Analytics Company, investing Rs. 1,00,000 in share capital. The activities of the business resulted in the
On January 1 20XX, Atika Sharma set up Smart Analytics Company, investing Rs. 1,00,000 in share capital. The activities of the business resulted in the following revenues and expenses for 20XX: revenues and services, Rs. 1,08,000; office rent, Rs. 13,100; electricity, Rs. 9,000; salaries, Rs. 12,300; cloud storage, Rs. 3,600. the following were the assets and liabilities of the business on December 31, 20XX: equipment, Rs. 80,000; supplies, Rs. 14,500; trade receivables, Rs. 13,000; cash, Rs.3,900; rent deposit, Rs. 1,00,000; long-term loan payable, Rs. 44,000; trade payables, Rs. 9,200. During the year, the company paid a dividend of Rs. 16,800 and Ms. Sharma made a further equity investment of Rs. 5,000 in the business. Prepare the 20XX balance sheet and statement of profit and loss.
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