Question

4.Mr. Sharma had the following trasactions in an accounting year :
(a) Commenced business with cash ₹ 50,000 and stock ₹ 60,000 .
(b) Paid into bank ₹ 10,000 .
(c) 1/3 of the above goods sold at a profit of 10 % on cost and half of the payment is received in cash .
(d) Depreciation on machinery provided @ 10 % .
(e) Paid wages ₹ 300
(f) Interest on capital ₹ 1,000 .
(g) Rent outstanding ₹ 4,000 .
(h) Bought furniture on credit ₹ 2,000 .
(i)He sold goods ( cost price ₹ 2,000 ) for ₹ 5,000 for cash .
(j) Bought refrigerator for personal use ₹ 5,000​

Answer 1

Answer:

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