Question
Find out the Credit Purchases from the details given below:
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Calculate the Amount of annual Depreciation and Rate of Depreciation under Straight Line Method (SLM) from the following:
Purchased a second-hand machine for ₹ 96,000, spent ₹ 24,000 on its cartage, repairs and installation, estimated useful life of machine 4 years. Estimated residual value ₹ 72,000.
Purchased a second-hand machine for ₹ 96,000, spent ₹ 24,000 on its cartage, repairs and installation, estimated useful life of machine 4 years. Estimated residual value ₹ 72,000.
Calculate the amount of bills receivable dishonoured from the following information.
| ₹ | |
| Opening debtors. | 45,000 |
| Closing debtors. | 56,000 |
| Discount allowed. | 2,500 |
| Sales returns. | 8,500 |
| Irrecoverable amount. | 4,000 |
| Bills receivables received. | 12,000 |
| Bills receivable dishonoured. | 3,000 |
| Cheque dishonoured. | 7,700 |
| Cash sales. | 80,000 |
| Cash received from debtors. | 2,30,000 |
| Cheque received from debtors. | 25,000 |
From the Balance Sheet given below, calculate:
→- Fixed Assets.
- Current Assets.
- Current Liabilities.
- Working Capital.
Calculate Closing Capital:
Opening Capital ₹ 90,000; Profit for the year ₹ 25,000; Drawings ₹ 17,000. During the year proprietor sold ornaments of his wife for ₹ 40,000 and invested the same in business.
Opening Capital ₹ 90,000; Profit for the year ₹ 25,000; Drawings ₹ 17,000. During the year proprietor sold ornaments of his wife for ₹ 40,000 and invested the same in business.
Can a Computer take a decision?
Write notes on the following:
- Accrued Income.
- Unearned Income.
- Provision for Doubtful Debts.
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