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4.Mr. Sharma had the following trasactions in an accounting year : (a) Commenced business with cash ₹ 50,000 and stock ₹ 60,000 .(b) Paid into bank ₹ 10,000 . (c) 1/3 of the above goods sold at a profit of 10 % on cost and half of the payment is received in cash .(d) Depreciation on machinery provided @ 10 % . (e) Paid wages ₹ 300(f) Interest on capital ₹ 1,000 . (g) Rent outstanding ₹ 4,000 .(h) Bought furniture on credit ₹ 2,000 .(i)He sold goods ( cost price ₹ 2,000 ) for ₹ 5,000 for cash . (j) Bought refrigerator for personal use ₹ 5,000 |
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