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On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.?
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On 1 st November, 2021 Mr.Risabh started a Readymade garments business...
Introduction:
Mr. Rishabh started a Readymade garments business in Lucknow on 1st November 2021. He invested Rs 50,00,000 to start his business. In this response, we will discuss the financial transactions that took place in the first week of his business.
Cash Deposit:
On November 2, Mr. Rishabh deposited Rs. 30,00,000 cash into his bank account. This is a positive cash flow for the business.
Purchase of Goods:
On November 2, Mr. Rishabh purchased goods worth Rs. 8,00,000 for cash. He received a 25% trade discount, which reduced the cost of goods to Rs. 6,00,000. This is a cash outflow for the business.
Purchase of Sewing Machinery:
On November 3, Mr. Rishabh purchased sewing machinery for Rs. 5,50,000, which was paid in cash. Additionally, he paid Rs. 50,000 for installation expenses. This is a cash outflow for the business.
Purchase of Computer:
On November 5, Mr. Rishabh purchased a computer for Rs. 50,000, which was paid by cheque. This is a cash outflow for the business.
Conclusion:
In the first week of his business, Mr. Rishabh made a significant investment of Rs. 50,00,000. He received a positive cash flow of Rs. 30,00,000 and had cash outflows of Rs. 13,00,000 for the purchase of goods, machinery, and a computer. It is important for Mr. Rishabh to track his expenses and cash flow to ensure the success of his business in the long run.
Mr. Rishabh started a Readymade garments business in Lucknow on 1st November 2021. He invested Rs 50,00,000 to start his business. In this response, we will discuss the financial transactions that took place in the first week of his business.
Cash Deposit:
On November 2, Mr. Rishabh deposited Rs. 30,00,000 cash into his bank account. This is a positive cash flow for the business.
Purchase of Goods:
On November 2, Mr. Rishabh purchased goods worth Rs. 8,00,000 for cash. He received a 25% trade discount, which reduced the cost of goods to Rs. 6,00,000. This is a cash outflow for the business.
Purchase of Sewing Machinery:
On November 3, Mr. Rishabh purchased sewing machinery for Rs. 5,50,000, which was paid in cash. Additionally, he paid Rs. 50,000 for installation expenses. This is a cash outflow for the business.
Purchase of Computer:
On November 5, Mr. Rishabh purchased a computer for Rs. 50,000, which was paid by cheque. This is a cash outflow for the business.
Conclusion:
In the first week of his business, Mr. Rishabh made a significant investment of Rs. 50,00,000. He received a positive cash flow of Rs. 30,00,000 and had cash outflows of Rs. 13,00,000 for the purchase of goods, machinery, and a computer. It is important for Mr. Rishabh to track his expenses and cash flow to ensure the success of his business in the long run.
Community Answer
On 1 st November, 2021 Mr.Risabh started a Readymade garments business...
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On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.?
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On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.?.
On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.?.
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On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.?, a detailed solution for On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? has been provided alongside types of On 1 st November, 2021 Mr.Risabh started a Readymade garments business in Lucknow. Mr. Rishabh invested Rs 50,00,000. November 2 Cash deposited into the bank Rs. 30,00,000. November 2 Goods purchased for cash Rs 8,00,000 at 25% trade discount . November 3 Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid Rs. 50,000. November 5 Computer Purchased paid by cheque Rs. 50,000.? theory, EduRev gives you an
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