amair started the business with a capital of rs60000 on 1jan 2009 during the year he had with drawn goods rs8000 and cash rs5000for personal use he has also paid life insurance premium rs.2000 he had aiso introduced additional capital of rupees 20000 on 1st july .2009 on 31st december 2009 you have the following information cash in hand 40000 buildings 60000 credtors 20000 loan from cousin 5000 dabitors 30000 machinery 50000 stock 30000 investment 30000 you are required to find profit or loss after considering rupees 2000 for bad and doubtfull debts depreciation on machinery 10% and buildings 5% provide interest and capital 10% .
amair started the business with a capital of rs60000 on 1jan 2009 during the year he had with drawn goods rs8000 and cash rs5000for personal use he has also paid life insurance premium rs.2000 he had aiso introduced additional capital of rupees 20000 on 1st july .2009 on 31st december 2009 you have the following information cash in hand 40000 buildings 60000 credtors 20000 loan from cousin 5000 dabitors 30000 machinery 50000 stock 30000 investment 30000 you are required to find profit or loss after considering rupees 2000 for bad and doubtfull debts depreciation on machinery 10% and buildings 5% provide interest and capital 10% .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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amair started the business with a capital of rs60000 on 1jan 2009 during the year he had with drawn goods rs8000 and cash rs5000for personal use he has also paid life insurance premium rs.2000 he had aiso introduced additional capital of rupees 20000 on 1st july .2009 on 31st december 2009 you have the following information cash in hand 40000 buildings 60000 credtors 20000 loan from cousin 5000 dabitors 30000 machinery 50000 stock 30000 investment 30000
you are required to find profit or loss after considering rupees 2000 for bad and doubtfull debts
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