Mr. hiralal invested ₹2,15,000 in a mutual fund. He got ₹3,05,00 after 2 years. Mr. Ramniklal invested ₹1,40,000 at 8% compound interest for 2 years in a bank. Find out the percent gain of each of them. Whose investment was more proftable ? please i need step by step answer with using formulae
Anonymous:
it will take me a while to answer your question. But I will surely answer it by today
ok
Sorry, I cannot solve it. :-(
It looks incomplete.
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Journalising: Record the transactions in the Journal or subsidiary books as and when they take place.
Step-2 Posting: Transfer the transactions (recorded in the Journal or subsidiary books), in the respective accounts opened in the ledger.
Step-3 Balancing: Ascertain the difference between the debit and credit side of each ledger account.
Step-4 Trial Balance: Prepare a list of ledger balances of each and every account to verify whether the total of debit balances is equal to the total of credit balances.
Step-5 Income Statement: Prepare Trading and Profit & Loss Account to find out the profit or loss of the enterprise for the accounting period.
Step-6 Position Statement (or Balance Sheet): Prepare the Balance Sheet to ascertain the financial position of the enterprise as at the end of the accounting period.
Step-2 Posting: Transfer the transactions (recorded in the Journal or subsidiary books), in the respective accounts opened in the ledger.
Step-3 Balancing: Ascertain the difference between the debit and credit side of each ledger account.
Step-4 Trial Balance: Prepare a list of ledger balances of each and every account to verify whether the total of debit balances is equal to the total of credit balances.
Step-5 Income Statement: Prepare Trading and Profit & Loss Account to find out the profit or loss of the enterprise for the accounting period.
Step-6 Position Statement (or Balance Sheet): Prepare the Balance Sheet to ascertain the financial position of the enterprise as at the end of the accounting period.
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