Question

Journalise the following transactions in the books of Kanishk Traders: (i) Sold goods costing ₹ 1,20,000 to Charu at a profit of 1/3rd on cost less 15% Trade Discount. (ii) Sold goods costing ₹ 80,000 to Arun against cheque at a profit of 25% on cost less 15% Trade Discount. (iii) Paid by cheque ₹ 8,400 as insurance premium for a period of 12 months starting 1st August 2016. Financial year closes on 31st March every year.​

Answer 1

Answer:

Resource depletion is the consumption of a resource faster than it can be replenished. Natural resources are commonly divided between renewable resources and non-renewable resources. Use of either of these forms of resources beyond their rate of replacement is considered to be resource depletion.

Answer 2

I don't know this answer