Cpt accounts
This query is : Open
04 April 2015
A company sends its cars to dealers on sale or return basis.All such transactions are however treated like actual sales and are passed through the sales day book. just before the end of the year two cars which had cost Rs 55000 each have been sent on sales or return and have been debited to customers at Rs 75000 each, cost of goods lying with the customers will be?
a) 110000 b)55000 c) 75000 d) None
Vivek Venkataram
(Expert)
04 April 2015
On basics it should be 110000. Cost of 1 car is 55000 so cost or mv whichever is lower that is cost so 55000*2 therefore 110000
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