Question

Raghav started a business with cash Rs 4,00,000 and goods Rs 40,000. He bought car for office use. He purchased goods Rs 24,000 for cash and Rs 50,000 for credit. He paid salary Rs 600 in advance. Due to some personal work he withdrew Rs 5.000 from business. He sold goods costing R$27,000 at 33 1/3% profit. Half of the amount was recelved in cash. He paid income tax Rs2,000 at the end of the year. (a) When proprietor withdraw cash for personal use, what will be the effect on capital? 1. Decrease 11. Increase TIL No effect Iv. None (b) Raghav sold goods costing Rs 27.000 at 33 1/3 %. Calculate the amount of profit. 1. Rs 10,000 11 Rs 90.000 III. Rs 81,000 lv. Rs 54.000 (c). Salary paid in advance will result in 1. Decrease in assets and liabilities II. Decrease in assets and increase in liabilities 111. Decrease and increase in assets iv. Increase in assets and liabilities (d). Show the effect of purchased goods Rs 24000 for cash and Rs 50000 on credit In accounting equation. (e) Record income tax pald in books of accounts.​

Answer 1

Answer:

your ans is 1000

.

.

.

.

.

.

.

.

.

.

.

.

.

..

.

.

.

.