-1 PREPARATION OF ACCOUNTING EQUATION FROM …
-1 PREPARATION OF ACCOUNTING EQUATION FROM INFORMATIONS OF COVID Ltd : 1) Start business with Bank Balance Rs 10,00,000; Fixtures Rs 6,00,000; Motor Rs 1,40,000 & Stock Rs 5,00,000. 2) Sold ¼ of above goods at 40% above cost on Credit. 3) Purchase goods costing Rs 9,00,000, half of the money is paid by cash. 4) Paid Rent Rs 60,000. 5) Paid Salary Rs 50,000.
Posted by Sarpanch Madder 3 months, 2 weeks ago
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shyam started a manufacturing business with cash ₹ 10,00,000; goods ₹ 2,00,000 and furniture of ₹ 1,00,000. he opened a bank account with hdfc bank in the name of the firm by depositing ₹ 60,000. the following transactions took place: (a) goods purchased in cash ₹ 80,000 and on credit ₹ 50,000. (b) goods were sold in cash ₹ 1,00,000 and on credit ₹ 50,000 at cost price plus 25%. (c) cash paid to creditors on account ₹ 30,000. (d) cash received from debtors ₹ 10,000. other information (a) debtors have deposited 50 % of the remaining amount in firm’s bank account. bank charges ₹2,000 were charged by bank for services provided. 1.how much total profit made the him? 2.what is the amount of sales? 3.how much total capital brought by mr. shyam to start the business in the beginning? 4.how much amount is yet to be paid to the creditors? 5.what is the amount of goods left?
Posted by Shivam Kushwaha 1 day, 14 hours ago
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