Sameer had cash sales of Rs. 180000 and credit sales of Rs. 120000
during the financial year 2019-20. His expenses for the year were Rs.
140000 out of which Rs.60000 is still to be paid. Find out Sameer’s
income for or 2019-20 if he is following the cash basis of accounting.
Answers
Answered by
2
Answer: Rs1,00,000
Step-by-step explanation: Revenue-1,80,000(only cash transactions are recorded in cash basis)
Expenses: Rs 1,40,000(total expenses)-60,000(expenses to be paid)=Rs.80,000
income= revenue - expenses
= 180000-80000
=Rs 1,00,000
Answered by
0
Step-by-step explanation:
Sameer had cash sales of Rs. 180000 and credit sales of Rs. 120000
during the financial year 2019-20. His expenses for the year were Rs.
140000 out of which Rs.60000 is still to be paid. Find out Sameer’s
income for or 2019-20 if he is following the cash basis of accounting.
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