Question

Q.2 Mr. Suraj started a business for buying and selling of stationery with Rs. 5,00,000 as an initial
investment. Of which, he paid Rs. 1,00,000 for furniture, Rs. 2,00,00 for buying stationery items. He
employed a sales person and clerk. At the end of the month he paid Rs.5,000 as their salaries. Out of
the stationery bought, he sold some stationery for Rs. 1, 50,000 for cash and some other stationery Rs.
1,00,000 on credit basis to Mr. Ravi. Subsequently, he bought stationery items 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 furniture, which cost Rs. 40,000 was sold for Rs.45,000. From the above,
answer the following:
(0.5x8=4)
(i) What is the amount of Capital with which Mr.Suraj started business.
(ii) What are the fixed assets he bought?
(iii) What is the value of the goods purchased?
(iv) Who is the creditor and state the amount payable to him?
(v) What are the expenses?
(vi) What is the gain he earned?
(vii) What is the loss he incurred?​

Answer 1

Answer:

May i ask which class is this so i can answer