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Question : M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit of loss and also prepare balance sheet for the year ended December 31, 2005.ItemsJan 1, 2005 (Rs)Dec 31, 2005 (Rs)Cash in hand 6,000 24,000 Bank Overdraft 30,000 - - - - Stock 50,000 80,000 Sundry Creditors 26,000 40,000 Sundry Debtors 60,000 1,40,000 Bills Payable 6,000 12,000 Furniture 40,000 60,000 Bills Receivable 8,000 28,000 Machinery 50,000 1,00,000 Investment 30,000 80,0
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