A man owes his partner Ba sum of Rs. 1,50,000 in a business deal is requested by the latter to pay the money in 24 instalments by starting just one paise a day and doubling the amount on each successive day. Do you think that A will gain in the business. Calculate his actual gain or loss.
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- Urgently need A man owes his partner Ba sum of Rs. 1,50,000 in a business deal is requested by the latter to pay the money in 24 instalments by starting just one paise a day and doubling the amount on each successive day. Do you think that A will gain in the business. Calculate his actual gain or loss.X had started business with $2,00,000 in the beginning of the year. During the year, he borrowed $1,00,000 from Y. He further introduced $2,00,000 in the business. He also gave $50,000 as loan to his son. Goods given away as charity by him were $20,000. Profits earned by him were $2,50,000. He also withdraw $30,000 from the business. His capital at the end of the year would be__________.On 1 August 2020, Jojo decided to start a sole proprietorship business with i point the following items: building RM400,000; motor vehicles RM160,000; fixtures and fittings RM 120,000; loan from bank RM100,000; cash at bank RM30,000. What was the amount of capital that Jojo contributed to the business.
- Mrs X runs a small business. At the beginning of the calendar year, her owner’s equity consisted solely of a capital contribution of R280 000; her liabilities stood at R410 000; and she had R690,000 worth of assets. During the calendar year, she made a profit of R60 000. She also increased her capital contribution to R330 000, and paid down her debts by R40,000. At the end of the calendar year, what amount would her assets be sitting at? a.R690 000 b.R710 000 c.R700 000 d.R760 000 e.R800 000Check which among following are required to answer this question:- Three friends started a business, Karthik, Christo and Aparna. What profit will Christo get if, 1. Aparna invested Rs. 8000 for nine months, her profit was 3/2 times that of Christo's and his investment was four times that of Karthik. 2. Karthik and Christo invested for one year in the proportion 1:2 respectively. 3. The three together got Rs. 1000 as profit at the year end. A None of above B All 1, 2 and 3 C Only 1 and 2 D Only 1 and 3Mr. Rafiq has salary income or Rs. 80,000 per month (gross) he also has invested in business where he got annual profit of Rs. 350,000 A) Identify Mr. Rafiq as Salaried Individual or Non Salaried Individual Mr. Rafiq is _______________ Individual B) Give reason to support your answer in part A
- Pat invites Tin to join him in his business. Tin agreed that the following adjustments are taken up in the books of Pat Prepaid expenses of P 10,000 and accrued expenses of P6,000 are to be recognized. Allowance for doubtful accounts on Pat's accounts receivable shall be increased by P10,000. Pat's capital before adjustment for the above items was P405,000. Tin will invest enough cash to make her equal to 60%. How much is Pat's adjusted capital balance?Jones invests USD 250.000 in a building society account. At the end of the year her account iscredited with 2% interest. How much interest had he earned in the year?Let us assume that Mr. Amir starts a business called Amir Enterprises on 1st January, 2021 and invests cash of RO. 20,000 as his capital. Amir Enterprise’s purchases machinery worth RO. 1,000 paid 35% in cash and remaining on credit. The company purchased goods worth RO. 5,000. Paid RO. 2,000 cash and balance on credit The company made a sale of RO. 2800 (cost being RO 3000) on credit basis The company took loan of RO. 10,000 from Bank Muscat . Mr. Amir withdrew RO. 1,000 from the business for his personal use You need to record the above transactions in an equation form. Q2Select any five financial transactions of your choice and make journal entries for the same. Q3 There are three types of organizations namely manufacturing, services and trading sectors, choose any one organization from each sector of your choice and name 5 Assets, Liabilities, Expenses and revenue from them.
- On first August, Izah decided to start a sole proprietorship business with the following items; building RM400, 000; motor vehicles RM160, 000; fixtures & fittings RM120, 000; loan from bank RM100, 000; Cash at bank RM30, 000. What was the amount of capital that Izah contributed to the business?Pat invites Tin to join him in his business. Tin agreed that the following adjustments are taken up in the books of Pat: Prepaid expenses of P 10,000 and accrued expenses of P6,000 are to be recognized. Allowance for doubtful accounts on Pat's accounts receivable shall be increased by P10,000. Pat's capital before adjustment for the above items was P405,000. Tin will invest enough cash to make her equal to 60%. How much should Tin invest to give her a 60% equity or capital of the firm?mr. lima borrowed 50,000 from a lending firm to start a business. if the firm changes simple interest of 5 percent, how much must mr lima pay in three years