Question

Illustration
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Mr. Prem commenced business of trading in electronic sounds with an initial capital of
? 15,00,000. Out of the said ? 15,00,000, he paid 7 10,00,000 towards purchase of
electronic goods. He further spent ? 2,00,000 on furnishing the shop and 7 35,000 for
purchase of computer and printer. 10,000 is yet to be paid to supplier of emputer
He sold goods costing? 5,00,000 for 7,00,000 in cash and goods costing 72,50.000 for
73,10,000 on credit. Goods sold on credit for 7 25,000 were returned being defective
These goods (costing 20,000) were returned to the supplier Looking into the response,
he decided to trade in home appliances also and further invested 5,00,000,
He purchased electronic goods and home appliances for ? 8,00,000 out of which
purchases of * 2,00,000 were on credit,
Due to an earthquake, 2 LCD Televisions costing? 50,000 were completely destroyed
Mr. Prem received an insurance claim of 30,000.
del A customer purchased goods costing 2,25,000 for 3,00,000 and was allowed discount
entre of 15,000. He was further allowed discount of 75,000 for payment within agreed time.
Bow He paid salary to Shyam of 3 55,000; 7 5,000 were yet to be paid. He insured the goods
and paid insurance premium of 10,000. Out of this, 7 5,000 are for the next year,
Mr. Prem withdrew 30,000 during the year for his personal use.
You are required to answer the following questions on the basis of the above
of onnital invested in the business by Mr. Prem?
ige
(i) What​

Answer 1

Explanation:

further invested 5,00,000,

He purchased electronic goods and home appliances for ? 8,00,000 out of which

purchases of * 2,00,000 were on credit,

Due to an earthquake, 2 LCD Televisions costing? 50,000 were completely destroyed

Mr. Prem received an insurance claim of 30,000.

del A customer purchased goods costing 2,25,000 for 3,00,000 and was allowed discount

entre of 15,000. He was further allowed discount of 75,000 for payment within agreed time.

Bow He paid salary to Shyam of 3 55,000; 7 5,000 were yet to be paid. He insured the goods

and paid insurance premium of 10,000. Out of this, 7 5,000 are for the next year,

Mr. Prem withdrew 30,000 during the year for his personal use.

You are required to answer the following questions on the basis of the above

of onnital invested in the business by Mr. Prem?

ige

(i) What is present in the