Question

Mr. Bansal Planned to sart an Auto agency to purchase and sell scooters and motorcycles. According to his calculations there was a capital requirement of ₹ 7500000. His savings was not sufficient for this business so he decided to take a loan from the bank for ₹ 6000000 on the security of his own house. The loan was sanctioned on 15th march 2010. After sanctioning of loan he purchased the required fixed assets for this business which are as follows: 1. Office premises ₹ 3750000 2. Office equipment ₹ 360000 3. Furniture and fittings ₹ 390000​

Answer 1

Answer:

Explanation:

Mr. Bansal Planned to sart an Auto agency to purchase and sell scooters and motorcycles. According to his calculations there was a capital requirement of ₹ 7500000. His savings was not sufficient for this business so he decided to take a loan from the bank for ₹ 6000000 on the security of his own house. The loan was sanctioned on 15th march 2010. After sanctioning of loan he purchased the required fixed assets for this business which are as follows: 1. Office premises ₹ 3750000 2. Office equipment ₹ 360000 3. Furniture and fittings ₹ 39000