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Q4. Mr. Waseem keeps his books under single entry system. He gives you the followinginformation which you are required to ascertain his profit or loss during 2018(10)1st January 201831st December 2018Bank balance740 (Cr.)400 (Dr.)Cash In handTOSundry Debtors53008800Sundry Creditors15001950Stock17001900Plant20002000Furniture140140Adjustments:Mr. Wascem withdrawn Rs. 3000 during the year but had introduced fresh capital of Rs. 600on 1st July 2018. A provision of Rs. 5 Percent on Sundry Debtors is necessary. Write ofdepreciation on plant at 5 per cent. Interest on capital is to be allowed at 5 per cent P.a.​

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