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Prepare trading and profit and loss acco...

Prepare trading and profit and loss account of M/s Sports Equipments for the year ended March 31, 2017 and balance sheet as on that date :

Closing stock as on March 31, 2017 Rs. 2,500

Text Solution

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The correct Answer is:
Gross loss Rs. 1,500, Net loss Rs. 41,500, Total balance sheet rs. 3,62,500
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