Question

Calculate the closing balance of a debtor ‘Anurag’ on the basis of following transactions. 4(1) Sold goods to Anurag on Credit ₹ 50,000 (2) Sold goods to anurag on credit ₹20,000(3) Cash received from Anurag ₹25,000(4) Goods return by Anurag ₹5,000 *
4 points
(a) 70,000
(b) 45,000
(c) 40,000
(d) 50,000​

Answer 1

Answer:

50000

Explanation:

50000+ 20000 + 5000 - 25000

50000

where, 50000 + 20000 + 5000 appears on credit side and 25000 appears on debit bside

Answer 2

Following accounts are being maintained in the books of Shri Ashok. Classify them into Personal, Real and Nominal Accounts:

 

(i) Land and Building (vii) Investments(xiv) Ramesh, a debtor (ii) Excise Duty(viii) Salary(xv)  Interest Received(iii) Creditors  (ix) Debtors  (xvi)  Bank Overdraft(iv) Capital  (x) Bad Debts(xvii)  Purchase Returns(v) Motor Vehicles(xi) Depreciation (xviii) Drawings(vi) Goodwill(xii) Wages (xix) Freight (xiii) Repairs (xx) Return Inwards.