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Mr. Alok Chandra started a business of trading of electronics goods by investing
Rs 15, 00, 000.
Out of this fund he paid Rs 10,00,000 for purchase of electronics goods
He further spent Rs 2,00, 000 on furnishing the shop and Rs 35,000 for purchase of a
computer and printer's 10,000 yet to be paid to the supplier of computer.
He sold goods costing Rs 5,00,000 for Rs 7,00,000 in cash and goods costing
Rs 2, 50, 000 for Rs 3, 10,000 on credit. Goods sold on credit for Rs 25,000 were
returned being defective. These goods costing Rs 20,000 were returned to the
supplier. Looking into the matter he decided to trade in home appliances also and
further invested Rs 5, 00, 000.
He purch d electronics goods and home appliances fr Rs 8, 00,000 out of which
Rs 2, 00, un credit.
Due to earthquake, 2 LCD TV costing Rs 50,000 were completely destroyed. Mr Alok
chandra received Rs 30,000 as insurance claim.
A customer purchased goods costing Rs 2, 25000 for Rs 3,00, 000 and was allowed
discount of Rs 15,000.He was further allowed discount of Rs 5,00 for payment within
the agreed time.
Salary paid to Mohan is Rs 55,000 and Rs 5,000 yet to be paid. He insured the goods
and paid the insurance premium of Rs 10,000. Out of this Rs 5,000 are for the next
year. Mr. Alok Chanda withdrew Rs 30000 during the year for his personal use.
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