Ashok purchased goods from Delhi Traders for ₹ 2,00,000. As per the, if Ashok made full payment within 21 days, he will get cash discount at 2.5%. Ashok paid ₹ 1,50,000 within the stipulated time. How much discount will he get?

What is Ledger?

What are source documents of accountancy?

Goods costing ₹ 10,000 have been sold for cash at 25% profit. How will the transaction be shown in the Accounting Equation?

‘If debts written off as bad are recovered subsequently it should be credited to Debtors Account'. Do you agree?

Give an example of a transaction which increases one liability and decreases another.

Name the two Central Taxes that have merged into GST.

Give the rules of debit and credit of the three types of accounts.

Give fundamental accounting equation.

Calculate the total assets if:

1. Capital is ₹ 40,000.
2. Creditors are ₹ 25,000.
3. Revenue during the period is ₹ 50,000.
4. Expenses during the period are ₹ 40,000.