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From the following Trial Balance of Mahesh, prepare his Final Accounts for the year ended 31st March, 2019:
image
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Additional Information :
(i) Closing Stock on 31st March, 2019 was Rs 21,000.
(ii) Rent of Rs 1,200 has been received in advance.
(iii) Outstanding liability for Miscellaneous expenses is Rs 12,000.
(iv) Commission earned during the year but not received was Rs 2,100.
(v) Goods coasting Rs 2,000 were taken by the proprieter for his personal use but entry was not passed in the books of account.

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Correct Answer - Gross Profit -Rs 1,73,000; Net Profit -Rs 1,32,100; Balance Sheet Total - Rs 4,96,100.

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