Deepti wants to buy a building for her business today.Which of the following is the relevant data for his decision ?
Similar building cost in August,2005 Rs. 25,00,000
Similar business acquired the required building in 2,000 for Rs. 10,00,000
Building cost details 1998
Building cost details 2003
A
Similar business acquired the required building in 2,000 for Rs. 10,00,000
B
Building cost details 1998
C
Similar building cost in August,2005 Rs. 25,00,000
D
Building cost details 2003
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Solution
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This is the information which in identifying the historical cost of the building and now the price can be compared in present context.
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Deepti wants to buy a building for her business today.Which of the following is the relevant data for his decision ?
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Mr. John has acquired a floor of a building having 3 halls for Rs 1,500 per month. He uses two halls for his business and one for personal purpose. According to the business entity concept how much rent shall be recorded in the books?
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Question : Mrs Bhavana keeps his books by Single Entry System. You're required to prepare final accounts of her business for the year ended December 31, 2005. Her records relating to cash receipts and cash payments for the above period showed the following particulars. Summary of Cash
Receipts
Amt. (Rs)
Payments
Amt. (Rs)
Opening balance of cash
12,000
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The following information is also available
Items
Jan 1, 2005 (Rs)
Dec 31, 2005 (Rs)
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Creditors
22,000
29,000
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50,000
Land and Building
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Q5
Question : Mr Ashok does not keep his book properly. Following information is available from his books.
Items
Jan 1, 2005 (Rs)
Dec 31, 2005 (Rs)
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57,000
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22,500
------
Land and Building
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Bank overdraft
25,000
-----
Furniture
1,300
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Stock
34,000
25,000
During the year Mr. Ashok sold his private car for Rs 50,000 and invested this amount into the business. He withdrew from the business Rs1,500 per month upto july 31, 2005 and thereafter Rs4,500 per month as drawings. You are required to prepare the statement of affairs as on December 31, 2005.