Accounting basics

Goods costing ₹20,000 is sold at a profit of 20% on cost and trade discount is allowed @10% and cash discount is also allowed. Half the payment was received at the time of sale. What is the amount of cash received at the time of sale?

Goods worth ₹7,000 given away as charity would be credited to:

Payment of ₹6,000 as wages to workmen for installation of a machine should be debited to:

What shall be the amount of Capital if Cash is ₹5,000; Furniture ₹12,000; Stock ₹30,000 and Creditors ₹6,000

Gopal is our debtor for ₹10,000. He became insolvent and only 60 paise is received from him. The balance of ₹4,000 would be entered to the :

₹5,000 received from Mohan whose account was written off as bad in the previous year should be credited to:

Loss of goods by fire should be credited to:

Goods costing ₹30,000 supplied to Mohan at a profit of 25% of sales price less Trade discount @5% will be credited to Sales a/c with:

Paid to Rahul on behalf of Sanjay ₹12,000 will be debited to

Sold goods worth list price of ₹8,000 at 10% trade discount and 2% cash discount. 25% received at the time of transaction only. The amount posted to discount account will be: