Hari gifted a set of six. T-Shirts (made in his Garments factory) to one of his friend. In which accounts this transaction should be debited and credited?

Ravi purchased on credit goods for ₹ 5,00,000 Less 20% Trade Discount. As per the terms, he can deduct 4% Cash Discount if he pays the full amount within 15 days. What amount he will have to pay to avail the Cash Discount?

If total assets of a business are ₹ 1,30,000 and capital is ₹ 80,000, calculate creditors.

If total assets of a business are 1,30,000 and capital is 80,000, calculate the outside liabilities.

Give the full form of CGST.

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

1. Purchases Account.
2. Cash.
3. Capital.
4. Salary.
5. Interest received.
6. Sales Return.
7. Machinery.
8. Drawings.

Give an example of a transaction where an asset will increase and also the liability.

If capital of a business is ₹ 1,40,000 and liabilities are of ₹ 80,000, calculate the total assets of the business.

If total assets of a business are ₹ 10,00,000 and capital is ₹ 4,00,000, calculate creditors.