Question

Apr. 7
Goods for personal use (sale price * 1,500, cost price * 1,100).
Apr. 11 Goods stolen (sale price 700, cost price of * 550).
Apr. 13
Bank charged Interest * 300.
Apr. 17
Received a claim from Vivek Oberoi for defective goods, claim admitted * 1,100.
Apr. 20
Hired a secretary on salary of = 10,000 p.m. No entery Becoz
. (Journal Entry) Journalise the following transactions:
(a) Gave away for charitable purposes goods worth * 100 and cash
(b) Goods worth * 800 lost by accident Goods un​

Answer 1

profit=SP-CP

=1500-1100=400/-.......