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From the following balances taken from t...

From the following balances taken from the books of Hari & Co., prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as at the date:

Closing Stock was value at Rs 1,82,100

Text Solution

Verified by Experts

The correct Answer is:
Gross Profit - Rs 1,46,700; Net Profit - Rs 86,600; Balance Sheet Total - Rs 5,80,100
Investment is an asset. Thus, interest on Investments is an income
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