Question

6. Tej Partap started business with cash 14,000, bank balance * 36,000 and furniture
30,000. Paid rent 12,000 and salaries + 24,000. Cash deposited into bank 8,000)
Borrowed * 40,000 from bank for 3 years and purchased machinery for 25,000
Purchased goods for * 38,000 from Nitish Kumar to whom returned the goods worth
12,000. Goods were sold to Lalu Prasad for * 50,000 who returned goods worth
* 10,000. Cash paid to Nitish Kumar after deducting 3% discount. Provided 13,000
as depreciation. Furniture of the book value of $20,000 was sold for 25,000.
(i) Who is the proprietor and what is the amount of capital ?
(u) What is the expense?
(ii) What is the nature of bank account?
(iv) What is the amount of non-current liability ?
(v) What is the capital expenditure ?
(vi) What is the amount of purchases, purchases return and net purchases?
(vii) What is the amount of sales, sales return and net sales?
(viii) What is the amount of cash discount?
(ix) What is the value of an event ?
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Answer 1

Explanation:

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