Which of the following goods was traded from Bombay port?

Opium

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Cotton

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Jute

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Both

1

and

2

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Solution

The correct option is D Cotton
From the early nineteenth century, Bombay had grown as an important port for the export of raw cotton from India to England and China. It was close to the vast black soil tract of western India where cotton was grown. When the cotton textile mills came up they could get supplies of raw material with ease.

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2017
Jan. 1	Assets :	Cash in hand ₹ 20,000; Debtors : Sri Gopal ₹ 15,000, Poonam & Co. ₹ 30,000; Stock ₹ 1,75,000, Machinery ₹ 1,20,000; Furniture ₹ 40,000.
	Liabilities:	Bank Overdraft ₹ 33,000; Creditors : Niranjan Lal ₹ 24,000, Bombay Trading Co. ₹ 16,000.
Jan. 2		Purchased from Manohar Lal & Sons goods of the list price of ₹ 20,000 at 10% trade discount.
5		Returned to Manohar Lal & sons goods of the list price of ₹ 2,000.
10		Issued a Cheque to Manohar Lal & Sons in full settlement of their account.
12		Sold to Sri Gopal, goods worth ₹ 25,000.
15		Received Cash ₹ 10,000 and a Cheque for ₹ 8,000 from Sir Gopal. The Cheque was immediately sent to bank.
16		Withdrew for personal use : Cash ₹ 5,000 and goods ₹ 3,000.
17		Accepted a bill for 45 days drawn by Niranjan Lal for the amount due to him.
18		Acceptance received from Poonam & Co. for the amount due from them payable after 30 days.
19		Sold to Raghubir Brothers, goods valued ₹ 16,000.
20		Cash purchases ₹ 15,000.
22		Withdrew from bank fo office use ₹ 10,000.
23		Purchased from Bombay Trading Co., goods valued ₹ 24,000.
24		Sri Gopal returned goods worth ₹ 2,000.
25		Received from Raghubir Brothers ₹ 10,000.
27		Accepted a bill for ₹ 25,000 for 1 month drawn by Bombay Trading Co.
27		Paid Rent by Cheque ₹ 2,800.
		Received Commission in Cash ₹ 800.
31		Paid salaries ₹ 5,000.

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