Prepare Profit & Loss, and Balance Sheet.

Question no 2: Company A transaction 2016. January 1 Company A started business with cash 1,00,000 January 2 Goods purchased for cash 20,000 January 4 Machinery Purchased from ABC 30,000 January 6 Rent paid in cash 10,000 January 8 Goods purchased on credit from O Neill 25,000 January 10 Goods sold for cash 40,000 January 15 Goods sold on credit to George 30,000 January 18 Salaries paid. 12,000 January 20 Cash withdrawn for personal use 5,000