Question

4.Mr. Kotriwal is engaged in business of selling magazines. Several of his customers pay money in
advance for subscribing his magazines. Information related to year ended 31st March 2017 has
been given below:
On 1.4.2016 he had a balance of 2,00,000 advance from customers of which 31,50,000 is related
to year 2016-17 while remaining pertains to year 2017-18. During the year 2016-17 he made cash
sales of 5,00,000. You are required to compute:
i) Total income for the
year 2016-17.
ii) Total money received during the year if the closing balance in advance from customers account
is 1,70,000.​

Answer 1

Explanation:

hope this helps..

.....

.....

....

....

..

Answer 2

Answer:

All investing involves risk. The Fund investment has a risk of loss. The Fund makes every effort to keep the value of your investment at $1 per share, but it cannot make that guarantee

Explanation:

Non-manufacturing entities are the trading entities, which are engaged in the purchase and sale of goods at

profit without changing the form of the goods. In other words, non-manufacturing entities do not process

the goods purchased and sell them in its original form. Meanwhile it indulges in some liabilities, makes

some assets and also incurs some expenses like salaries, stationery expenses, advertisement, rent etc. to run

the business. At the end of the accounting year, the entity must be interested in knowing the results of the

business. To ascertain the final outcome of the business i.e., the income and financial position, they prepare

financial statements at the end of the year.

To learn more about trading visit

https://brainly.in/question/12814171

https://brainly.in/question/49630178

#SPJ3