what type of sum is this ?
Sri Rakesh started business with Rs 15,000 as capital on 1.1.2018. during this year he has withdrawn at the rate of Rs 360. Per month. He sold his wife jewel for Rs. 2,400 and introduced the same as additional capital in business. His position as on 31.12.2018 was:
Cash balance Rs 1,200; Stock Rs 12,000; Creditors Rs 3,600; Furniture Rs 300; Cash at bank Rs 300; Expenses outstanding Rs 240; Debtors Rs 7,200.
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Rakesh started his business with cash of rupees 1,50,000.
Furniture purchased for cash of rupees 20,000.
Purchase goods from mahesh on credit of rupee 25,000.
Sold goods (coasting 10,000) to mohan for rupee 14,000.
Addition capital introduced of rupee 20,000.
Commission reseaved in advance of rupee 2,000.
Paid to creditar mahesh in full settlement.
Soled goods (15,000) for 18000 out of which 5000 received for cash.
Deprisiation on furniture provided 10%
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