Question

Mr. Ramesh started a business of buying and selling of mobile phones and invested
Rs. 2,00,000/- on 01.4.2018. However, on 20.4.2018 he paid Rs.1,00,000/-for
purchase of mobile phones and Rs. 50,000/-for furniture. On 01.5.2018, he purchas
some stationery for Rs. 5,000/- in cash and sold some mobile phones for Rs.5 0,000
credit to Mr. Raman. After a period of one month, he purchased mobile phones of
60,000/-from Mr. Rakesh. Expenses during the same period were Rs. 1 0,000/-
31.07.18 mobile phones worth Rs. 20,000/-were lost by fire. During July to Septem
2018, a part of stock of mobile phones which costed Rs. 30,000/- was sold for Rs. 40.00
With the help of above information, answer the following questions:
a) What is the amount of capital with which Mr. Ramesh started the business?
b) What is the total amount of expenses?
c) Who is the debtor for the business and what is the amount receivable from hir
d) Who is the creditor and what is the amount payable to him?
e) Give the name and cost of fixed asset bought by the business enterprise
1) What is the total value of the goods purchased?
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Answer 1

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