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Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer?.

Solutions for Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.

Here you can find the meaning of Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of 15,000 and a bank balance of 25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth 12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth 10,000. On the 14th of May, he paid the electricity bill by cheque worth 9,000. On the 15th of May from Rashi, he purchased goods worth 10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew 5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid 1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth 500.• He withdrew 2,500 for his personal use.• He gave 500 from for the cash register to his nephew as a gift.• Goods worth 2,000 were lost due to damagesThere will be a contra entry for the transaction on which date?a)3rd of Mayb)15th of Mayc)29th of Mayd)31st of MayCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.