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He traded for a year drawing nothing out of the business

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

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:

Prepare a statement of profit or loss for the year.

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Accounting Basics: He traded for a year drawing nothing out of the business

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Accounting Basics: He traded for a year drawing nothing out of the business

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