Question

Shyam started a manufacturing business with cash ₹ 10,00,000; Goods ₹ 2,00,000 and Furniture of ₹ 1,00,000. He opened a Bank Account with HDFC Bank in the name of the firm by depositing ₹ 60,000. The following transactions took place: (a) Goods purchased in cash ₹ 80,000 and on credit ₹ 50,000. (b) Goods were sold in cash ₹ 1,00,000 and on credit ₹ 50,000 at cost price plus 20%. (c) Cash paid to creditors on account ₹ 30,000. (d) Cash received from debtors ₹ 10,000. Other information (a) Debtors have deposited 50 % of the remaining amount in firm’s bank Account. Bank charges ₹2,000 were charged by bank for services provided. 1.How much total profit made the him? 2.What is the amount of sales? 3.How much total capital brought by Mr. Shyam to start the business in the beginning? 4.How much amount is yet to be paid to the creditors? 5.What is the amount of goods left?​

Answer 1

Answer:

Amt to paid             = ₹ 19,000.00

Explanation:

Opening balance   = ₹ 25,000

Amt not to be pay  = ₹ 5,000

Balance amt            = ₹ 20,000

less 5%(1,000)         = ₹ -1,000

Amt to paid             = ₹ 19,000