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one customer visit the showroom of phones and purchased the
phone of Rs 750 and gave the 1000 rupees note the showroom
executive didn't have the change so he take the change from
next to his showroom's shop then he deliver the phone to
customer with the change of rs 250.and customer went with
both after sometime the shop owner of next to showroom who
gave the change of Rs 1000 with angry and told the showroom
executive that the note you give it to me is fake! so
showroom executive gave him Rs1000 to him.so my(question) is
how much the showroom executive faced the loss on this
transaction.
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Answer Posted / santosh kapoor
TOTAL LOSS IS RS. 2000/-
BECAUSE:
FAKE NOTE = 1000/-
MOBILE = 750/-
CHANGE GIVEN = 250/-
| Is This Answer Correct ? | 4 Yes | 1 No |
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A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
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