Question

2. PROIECT
On Feb 6, 2019, Mr. K. Shrinivas wanted to start a business. So, he decided to start a business on Agro
Seeds. He decided to move on with agro seeds as he had an eight year experience in private agro seeds
business firm.
He decided to invest 10,00,000. He got the amount from different sources. He applied for a bank loan,
and got bank loan from state bank of India for amount of Rs. 2,50,000. He invested Rs.3,00,000 from his
personal savings. He purchased a car worth Rs. 5,00,000 for his personal use.
He opened a bank account, with the name of 'GOLDEN AGRO SEEDS“. He deposited an amount of
Rs.5,00,000 and kept Rs. 50,000 as cash-in-hand. On March 2, additional bank loan was sanctioned and
an amount of Rs. 3,50,000 was transferred to account. He borrowed Rs.73,000 from Mr. Jayprakash on 15
march by promising him to pay an amount of Rs.73,00 for 10 months and an interest of 1% per month
for total principal amount. He took a small loan for remaining capital of Rs.27,000 from Mr. Ritesh on
Rs.3000
March 16 which was interest free and he had to pay it within December 15, i.e. he had to pay
every month. Mr. K.Shrivas withdrew Rs.50,000 from bank account on March 17.
On March 17. He had Rs. 2,00,000 as cash-in-hand and Rs. 8,00,000 in his bank account On March 25, he
rented a furnished shop by paying an advance of Rs. 1,00,000 through the bank account by cheque and he
had to pay a rent of Rs.20,000 every month. He had no employees since it was a small store and he is
capable of managing alone. He bought furniture for his residential use. Besides furniture he also purchase
2 LED'S one for official and other for personal use

what are the business and non business transactions?​

Answer 1

Answer:

Where did you steal it from

Explanation:

within December 15, i.e. he had to pay

every month. Mr. K.Shrivas withdrew Rs.50,000 from bank account on March 17.

On March 17. He had Rs. 2,00,000 as cash-in-hand and Rs. 8,00,000 in his bank account On March 25, he

rented a furnished shop by paying an advance of Rs. 1,00,000 through the bank account by cheque