PROJECT 9. Mr. Tushar decided to …

PROJECT 9. Mr. Tushar decided to start a computer business. For this purpose he built the first floor of his house at a cost of ₹2,00,000 and invested a further sum of ₹3,50,000 in this business. He wanted to start with 12 computers costing ₹40,000 cach. He approached ICICI Bank and secured a loan to the extent of 75% of the cost of computers. It was agreed that the loan will be repaid in four annual instalments as follows At the end of First Year ? 90000 +\ 36,000 for interest At the end of Second Year 290 +\ 27,000 for interest At the end of Third Year \ 90 +\ 18,000 for interest At the end of Fourth Year \$ 90 +\ 9.000 for interest He started business on 1st April, 2022. On the same date he deposited ₹3,30,000 in the Bank. He purchased Computers and paid 25% of the value of computers from his bank and 3,60,000 out of bank loan availed. He deposited ₹10,000 for the electric connection with the Electricity Board and also deposited ₹1,50,000 with the VSNL for internet and telephone connection. He spent 40,000 for getting the Computer Cafe furnished and also spent 6,000 in getting the pamphlets printed and distributed. All payments were to be made by cheques and all the receipts were to be deposited in the bank on the same day. At the end of the year, the results were: ₹ Purchases of Computer stationery like floppy discs, CDs etc. 92,000 Revenue from fees received from students of Computer classes 2,70,000 Revenue on Account of Internet Facility 2,20,000 Revenue from sale of Computer Stationery 1,60,000 Wages paid to Servant 12,000 Electricity Charges 48,000 Telephone Charges 73,000 Entertainment Expenses 7,000 General Expenses 5,200

On 1st may 2020 cash book bank overdraft balance was ₹4000 on depositing ₹20,000 into bank and giving a cheque of ₹14,400 for rent the balance will be

To know the exact reason leading to net profit or net loss

The following is the trial balance of Zoya steel ltd. As on 31st March 2018

Journal entries of Q 18. Ch 3

Difference between expenses and expenditure

sum

Which method is best

Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

Define provision

Q43. Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows: Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on First Call Balance when required Applications were collected for 46,000 shares and all of these were accepted. Directors did not make final call. A shareholder holding 800 shares did not pay the (Rs.) pending on first call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash Book and Journal Entries