30 October 2011
1.The cost of inventory on April 20th was computed as Rs.5,25,000. The purchase of goods from April 1st to 20th were 3,25,000 which include cash purchase of Rs.75,000 and goods costing Rs.50,000 not yet received. The value of closing stock for year ending 31st March would be ____
2.Opening stock 60000 Purchases 90000 Sales 120000 Gross Profit on Cost 33 1/3% Cost of goods lost in Rs.15000. Insurance Claim Received Rs.5000 closing stock...?
3.A Sold Goods for Rs.50,000 which includes a sale to a customer for Rs.5,500 at cost + 10%, but these goods were still in godown at the risk of buyer. The Total Sales to be recorded is
4.Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be
31 October 2011
The total sales in third case must be Rs 50,000 as the goods are lying in godown at the risk of buyer + the same is to be excluded from Cost of physical Inventory
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