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From the following balances, as on 31st ...

From the following balances, as on 31st March, 2019, prepare Trading and Profit and Loss Account and Balance Sheet:

Closing Stock on 31 st March, 2019 valued at Rs 14,500

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The correct Answer is:
Gross Loss - Rs 5,000; Net Loss - Rs 18,500; Balance Sheet Total - Rs 88,500
1. Prepare Trial Balance first. 2. Life Insurance Premium is drawings
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