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Saiqa Qureshi Industries, had the following transactions during the month of January 2020

Accounting

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Saiqa Qureshi Industries, had the following transactions during the month of January 2020. Prepare a profit and loss statement based on the following data, being careful to include only those items that should appear in the financial statement. 1. Cash received from the bank loan was Rs.10,000 2. Revenues earned and received in cash were Rs. 8,500 3. The owner, Saiqa Qureshi, withdrew Rs. 4,000 in cash. 4. Expenses incurred and paid were Rs. 5,000. 5. Revenue unearned for the month amounted to Rs. 3,000.