Can you pls give answer for 7)?
Thanks no links

Dear student
Opening capital(01.04.2019)= Cash bought in by sherly =450,000

Closing Capital(31.03.2020)= closing assets -closing liabilities
=Assets- (trade payable +loan from bank) =9,00,000-(30,000+150,000)
=900,000-180,000
=720,000

Profit for the year =closing capital- opening capital
=720,000-450,000
=170,000

Regards

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