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Needed a Document for mr Amit commenced business of trading electronic goods?
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Needed a Document for mr Amit commenced business of trading electronic...
) Opening Capital = 15,00,000
(2) Fixed Assets = Building (Shop)+Computer & Printers
= 2,00,000 + 35,000 = 2,35,000
(3) Purchases = Purchases(total) - Purchase Returns - Loss of purchases by Earthquake
= 10,00,000 + 8,00,000 - 20,000 - 50,000 = 17,30,000
(4) Long Term Liabilities = Nil
(5) Current Liabilities = Supplier of Computer and Printers+ Creditors(Net)
= 10,000 + 1,80,000(2,00,000 - 20,000)
= 1,90,000
(6) Expenses = Discount Allowed + Salary + Insurance Expenses + Loss by Earthquake (Net)
= 5,000 + 60,000 + 5,000 + 20,000 (50,000 - 30,000)
= 90,000
(7) Prepaid Expenses = Prepaid Insurance
= 10,000
(8) Outstanding Expenses = Outstanding Salary
= 5,000
(9) Income Earned = Income earned on Sales of Goods
= Sale Price of Goods - Purchase Cost of Goods Sold
= 7,00,000+3,10,000+2,85,000 - 5,00,000-2,50,000-2,25,000 = 3,20,000
(10) Debtors = 3,10,000 + 2,85,000 - 25,000 = 5,70,000
(11) Creditors = 2,00,000 - 20,000 = 1,80,000
(12) Closing Stock = Opening Stock + Purchases(Net) - Sales(Net)
= 0 + 17,30,000 - 12,70,000(7,00,000+3,10,000+2,85,000-25,000)
= 4,60,000
(13) Trade Discount = 15,000
(14) Cash Discount = 5,000
(15) Drawings = 30,000
(16) Sales Return = 25,000
(17) Purchases Return = 20,000
(2) Fixed Assets = Building (Shop)+Computer & Printers
= 2,00,000 + 35,000 = 2,35,000
(3) Purchases = Purchases(total) - Purchase Returns - Loss of purchases by Earthquake
= 10,00,000 + 8,00,000 - 20,000 - 50,000 = 17,30,000
(4) Long Term Liabilities = Nil
(5) Current Liabilities = Supplier of Computer and Printers+ Creditors(Net)
= 10,000 + 1,80,000(2,00,000 - 20,000)
= 1,90,000
(6) Expenses = Discount Allowed + Salary + Insurance Expenses + Loss by Earthquake (Net)
= 5,000 + 60,000 + 5,000 + 20,000 (50,000 - 30,000)
= 90,000
(7) Prepaid Expenses = Prepaid Insurance
= 10,000
(8) Outstanding Expenses = Outstanding Salary
= 5,000
(9) Income Earned = Income earned on Sales of Goods
= Sale Price of Goods - Purchase Cost of Goods Sold
= 7,00,000+3,10,000+2,85,000 - 5,00,000-2,50,000-2,25,000 = 3,20,000
(10) Debtors = 3,10,000 + 2,85,000 - 25,000 = 5,70,000
(11) Creditors = 2,00,000 - 20,000 = 1,80,000
(12) Closing Stock = Opening Stock + Purchases(Net) - Sales(Net)
= 0 + 17,30,000 - 12,70,000(7,00,000+3,10,000+2,85,000-25,000)
= 4,60,000
(13) Trade Discount = 15,000
(14) Cash Discount = 5,000
(15) Drawings = 30,000
(16) Sales Return = 25,000
(17) Purchases Return = 20,000
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Needed a Document for mr Amit commenced business of trading electronic...
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Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation?
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Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation?.
Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Document for mr Amit commenced business of trading electronic goods? Related: Definition of Accounting, Objectives, Advantages and Limitation?.
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