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6.38Corporate Account(B) Other ExercisesProfits Psales form 1-7-94 to 31-12-94 amounted to Rs. 3,30,000.The expenses debited to Profit and Loss account included:3. FrorRs.(a(b15,0001,800(c(a) Directors' fees(b) Bad DebtsAdvertisement (Rs.500 per month)6,000(d) Salaries and General Expenses(e) Preliminary expenses written offThe gross profit was (1-1-94 to 31-12-94)2,40,000Ascertain the profit prior to incorporationB.A. Corp. Madras - September.32,0003,0001. Raja Ltd., was incorporated on 1-7-94, which took over a running conceneffect from 1-1-94. The sales for the period upto 1-7-94 was Rs. 2,70,000 a |
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