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{"ops":[{"insert":"Q.1 From the following particulars of ABC ltd., find the profit for the year ended 31-12-2020\u00a0\nusing Stock and debtors system. The gross profit is 20% on sale price-\n1-1-2020\nHire Purchase Stock account 40000\nInstalments due and customers still paying 18000\nShop stock 20000\n31-12-2020\nHire Purchase Stock account ?\nInstalments due and customers still paying 20000\nShop stock 63000\nDuring the year, goods worth Rs. 1,85,000 were purchased for sale on H.P. and Rs. 1,80,000 was\u00a0\ncollected from the customers. Goods on which instalments of Rs.5000 were due, were\u00a0\nrepossessed at a value of Rs. 3000.\u00a0\n"}]}
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