Question

ILLUSTRATION 6. Bhag Singh started business with cash 80,000, furniture 60,000
and stock 40,000. He purchased goods on credit from Imran Khan 70,000 and sold to Nirmal Singh for 95,000 on credit. He spent 10,000 on salaries and 2,000 on postage. Furniture costing 30,000 was sold for 45,000. At the end of the year, stock costing 18,000 is left unsold. Ravi who owed 40,000 is declared insolvent and 60% could be recovered from his estate. (i) Who is the proprietor and what is the amount of capital introduced by him?

Answer 1

Answer:

Mr bhag singh is the proprietor with capital amount of Rs.1,80,000