Question

during the financial year 2019- 20 Shyam earned a total revenue of 47000 by selling the goods out of the total sale there were credit sales of rupees 130000 the total expenses for the year in Rupees 250000 out of the which rupees 30000 are still outstanding find out Shyam's income for 2019-20 as per cash basis of accounting​

Answer 1

On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by the

On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by theissue of 20,000 fully paid equity shares of 10 each at a premium of 15%. After 6 months X Ltd. sold the

On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by theissue of 20,000 fully paid equity shares of 10 each at a premium of 15%. After 6 months X Ltd. sold theabove fixed assets for * 3,20,000.