Question
Explain the following terminologies :
$(a)$ Bills payable
$(b)$ Goods
$(c)$ Cost
$(a)$ Bills payable
$(b)$ Goods
$(c)$ Cost
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| $1$ | Cash purchase $Rs.15,000$ and cash sales $Rs.14,000.$ |
| $2$ | A personal goods of $Rs.10,000$, brought to business. |
| $3$ | Goods of Rs.$12,000$ purchased from Harsh. |
| Balances of Acconts | Amt. (Rs.) |
Balances of Accounts | Amt. (Rs.) |
| Match Fund | $70,000$ | Interest on match fund investment | $4,000$ |
| Investments of Match fund | $35,000$ | Donation received for match fund | $16,000$ |
| Prize distribution to match winners | $5,700$ | Permanent fund | $1,05,000$ |
| Match Expense | $8,250$ | Investments of Permanent fund | $1,05,000$ |