Prepare a statement of profit or loss for the year

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Question: A Trader commenced business on 1st January, 1960, his position then being:

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He traded for a year, drawing nothing out of the business for his personal use and paying in no additional capital. His position on 31st Dec. 1960 was:

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Prepare a statement of profit or loss for the year.

Reference no: EM131537625

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