Question

1. Ranghu started business with cash $80,000, goods $40,000 and furniture $20,000.
2. Sold goods to Anna of the list price $2000 at trade discount of 10%.
3. Paid rent $800, Trade expenses $400and Travelling expenses $500.
4. Deposited to AC bank for opening a current account $25,000.
5. Bought goods from Kamal for $20,000 at a trade discount of 10% and Cash discount of 2%. Paid 60% amount immediately.

Answer 1

Answer:

1.Raghu start the business with three things i. e cash, goods, furniture etc. Something that come in the business is debited. All these things are done by the properitor. Hence all these things are goes to Capital account. JOURNAL ENTRY WILL BE!!!! Cash a / c . Dr. 80,000 Purchase a / c . Dr. 40,000 Furniture a / c . Dr 20,000 ..To Capital a/c........... 1,40,000 (being started business with cash, goods and furniture.)

2.The answer will be Rs.1800 Explanation: 2000^ * 10\%=200 2000-200=1800

3.Answer will be $700

4.25000

5.5000

please mark as brainliest