The opening Capital of a concern is Rs.30000/-
owner withdral for personal use Rs.28000/-
Closing capital balance of concern is Rs.37000/-
choose the correct answer from the following.
1.Net Loss Rs.14000/-
2.Net Profit Rs.35000/-
3.Net profit Rs.14000/-
4.Net Loss Rs.35000/-
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Answer Posted / bunty arora
net profit rs 35000/-
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
Short Answer on ________Adjusting Entries
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