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Calculate profit or loss made by ms nathalie

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Question - Ms Nathalie started his second hand garments business on April 1, 2013 with a capital of Shs. 50,000,000. He did not maintain his books according to double entry system.

a) During the year she introduced fresh capital of Shs. 15,000,000.

b) She withdrew Shs. 10,000,000 for personal use.

c) On March 31, 2014, her assets and liabilities were as follows: Total creditors Shs. 90,000,000; Total debtors Shs. 125,600,000; Stock Shs. 24,750,000; Cash at bank Shs. 24,980,000.

Required - Calculate profit or loss made by Ms Nathalie during the first year of his business using the statement of affairs method.

Reference no: EM132662972

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