Question

Due to the Covid-19 pandemic, Mr. Amitabh started a business of buying and selling
of hand sanitizers. For this he took an interest free loan from his father of 10,00,000
and invested * 2,00,000 from his savings. Out of which he paid ? 1,00,000 for
furniture, ? 3,00,000 for hand sanitizers, laptop for * 50,000 and motor vehicle worth
* 1,00,000 for office use. He paid ? 40,000 as electricity bill, 10,000 for stationery
and 5,000 for telephone charges during the year. He distributed hand sanitizers
worth * 10,000 to his friends and relatives. From the above calculate :
(a) Capital
(b) Non current assets
(c) Expenses
​

Answer 1

Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

Organizations in this sector: Institute of Chartered Accountants in England and Wales