Question

(1.) Lalit started business with cash 2,00,000 , machinery 3,00,000 , loan 5,00,000 , creditor 1,00,000 , stock 2,50,000 and furniture 5,00,000
(2.) He purchased stock costing rupees 80,000 for rupees 1,00,000 . Half on cash basis.
(3.) He purchased machinery for rupees 5,00,000 . In exchange of old machinery , exchanged value of old machinery is rupees 2,50,000.Remaining on cash basis.
(4.) He sold goods costing rupees 50,000 for rupees 60,000 20% on cash basis.
(5.) He paid salary to manager amounting to rupees 20,000 .
(6.) He also paid rent amounting to rupees 30,000.
(7.) Old furniture sold rupees 1,80,000 costing rupees 1,00,000

Answer 1

Answer:

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Explanation: