Question

Shyam made cash sales of ₹ 3,20,000 and credit sales of ₹ 1,80,000. His
expenses for the year were ₹ 3,50,000, out of which ₹ 10,000 is yet to be
paid. What will be the income of Ram on accrual basis of accounting

Answer 1

Answer:

I = R - E

= ( 320000 + 180000) - ( 350000 + 10000 )

= 140000

Explanation:

i think so that this can be the answer .

Answer 2

Answer:

income of ram will be ₹1,40,000

Explanation:

As he earn ₹3,20,000 and his credit sales that is his debtor is 1,80,000 so first we will add 3,20,000 and 1,80,000 which is ₹5,00,000 then we will add our expenses that is 3,50,000 with 10,000 which we have to paid later on so when we will add it.it will be ₹3,60,000 . Now subtract 5,00,000 - 3,60,000 it will be ₹1,40,000