Question

5.Gagan started a business for buying and selling of readymade garments with
Rs 8,00,000. Out of this he paid Rs 4,00,000 for the purchase of garments and
Rs 50,000 for furniture and Rs 50,000 for computers and the remaining amount
was deposited in the bank He sold garments worth Rs 3,00,000 for cash and
garments worth Rs 1,50,000 on credit to Ram. He bought garments worth Rs
2,00,000 from Sai Unfortunately a fire broke out in his godown and stock of
garments worth Rs 1,00,000 were destroyed. His electricity and water expenses
were Rs 15,000. Gagan withdrew Rs 20,000 from his business for his cousins
marriage expenses.
a. State Gagans capital.
b. How much amount was deposited in the bank?
C. State Gagans loss.
d. Who is the debtor and creditor in this case and state the amoun
receivable and payable?
e. What fixed assets did he buy?
f Calculate his total expenses and also state his drawings​

Answer 1

Answer:

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