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CA Foundation doubt

Can Anyone solve this.. I'm a bit confused. The following are the transactions that took place between g and h during the period from 1st october, 2017 to 31st march, 2018:2017 ₹oct.1 balance due to g

Asked by Ganjai6 Dec 2023984 views

1 answer

  1. Riya · 6 Dec 2023

    [06/12, 11:12 am] RIYA SULE ❤️: | Date | Description | Debit (₹) | Credit (₹) | Balance (₹) | |------------|---------------------------------------|-----------|------------|-------------| | 2017 Oct 1 | Balance due to G by H | | | 3,000 | | 2017 Oct 18| Goods sold by G to H | 2,500 | | 5,500 | | 2017 Nov 16| Goods sold by H to G | | 4,000 | 1,500 | | 2017 Dec 7 | Goods sold by H to G | | 3,500 | -2,000 | | 2018 Jan 3 | Promissory note given by G to H | 5,000 | | 3,000 | | 2018 Feb 4 | Cash paid by G to H | 1,000 | | 2,000 | | 2018 Mar 21| Goods sold by G to H | 4,300 | | 6,300 | | 2018 Mar 28| Goods sold by H to G | | 2,700 | 3,600 | [06/12, 11:13 am] RIYA SULE ❤️: Interest for Oct 2017 to Mar 2018 = (3,000 * 10% / 12) + (5,500 * 10% / 12) + (1,500 * 10% / 12) - (2,000 * 10% / 12) + (3,000 * 10% / 12) + (2,000 * 10% / 12) + (6,300 * 10% / 12) + (3,600 * 10% / 12) Interest ≈ 900 + 458.33 + 125 - 166.67 + 250 + 166.67 + 525 + 300 Interest ≈ 2,563.33

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