Question

7. During the financial year 2019-20, Ravi had a total sales of 6,00,000 including
credit sales of 2,50,000. His expenses for the year were 33,00,000, out of which
390,000 is outstanding. Find out Ravi's income for 2019-20 following Cash basis
and Accrual basis of Accounting.
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Answer 1

Answer:

During the financial year 2019-20, Ravi had a total sales of 6,00,000 including

credit sales of 2,50,000. His expenses for the year were 33,00,000, out of which

390,000 is outstanding. Find out Ravi's income for 2019-20 following Cash basis

and Accrual basis of Accounting.

6