Question

If in the above case, the proprietor had introduced fresh capital of ₹ 40,000 and had withdrawn ₹ 10,000 for personal purposes, calculate his profits.​

Answer 1

Explanation:

Prepare 'Accounting Equation' from the following :

(a) Started business with cash Rs.1,00,000.

(b) Purchased goods for cash Rs.20,000 and on credit Rs.30,000.

(c ) Sold goods for cash costing Rs. 10,000 and on credit costing Rs. 15,000 both at a prodit of 20%.

Answer 2

Answer:

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