Question

Mr sunrise started a business for buying and selling of stationary with Rs.5,00,000 as an initial investment. Of which he paid Rs.1,00,000 for furniture Rs.2,00,000 for buying stationery items. He employed a salesperson and a clerk. At the end of the month he paid Rs.5000 as their salaries. Out of the stationary bought he sold some stationery for Rs.1,50,000 for cash and some other stationery for Rs.1,00,000 on credit basis to Mr Ravi. Subsequently he bought stationery item of Rs.1,50,000 from Mr Peace. In the first week of next month there was a fire accident and he lost Rs.30,000 worth of stationery a part of the machinery which was costing Rs.40,000 was sold for Rs.45

thoughts from the above paragraph answer the following (a) What is the amount of capital with which Mr sunrise started business? * ₹ 100000 ₹ 200000 ₹ 500000 ₹ 150000
(b) What is the amount of fixed asset he invested? * ₹ 100000 ₹ 200000 ₹ 500000 ₹ 150000
(c) What is the value of goods purchased? * ₹ 100000 ₹ 200000 ₹ 500000 ₹ 150000 This is a required question
(d) Who is the creditor of the business? * Mr Sunrise Mr. Ravi Mr. Peace Mr. Vendor (
e) Who is the debtor of the business? * Mr Sunrise Mr. Ravi Mr. Peace Mr. Vendor This is a required question (f)

What is the gain he earned? * ₹20000 ₹ 40000 ₹50000 ₹ 100000 This is a required question (g)


Identify assets in the following * Building Creditors Stock Debtors This is a required question (h)


Identify expenditure in following * Building purchased Purchase of goods on credit Stock sold for cash Sold goods on credit.
(i) Current liabilities are the liability which are payable within * 3 months 6 months 9 months 12 months​

Answer 1

Answer:

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