QUESTION IS
NEW TEXTILES LTD OPERATE A NUMBER ID RETAIL SHOPS TO WHICH GOODS ARE INVOICED AT WHOLESALE PRICE WHICH IS COST PLUS 20%, SHOPS SELL THE GOOD AT THE LIST PRICE WHICH IS WHOLESALE PRICE PLUS 10%. FROM THE FOLLOWING PARTICULARS ASCERTAIN P\L FOR 2002
a) Stock at shop on Jan 1 '2002 RS 15000/-
b) Goods invoiced to shop during 2002 RS 140000/-
C) SALE AT SHOP RS 154770/-
D) GOODS DESTROYED BY ACCIDENT(RETAIL VALUE) RS 660
E) EXPENSES AT SHOP RS 7200/-
NOW IF ANYBODY HAS THE BRAIN TO SOLVE THIS..KINDLY REPLY ASAP... 12TH KO EXAM HAI..KRIPYKA KARKE HELP KARE JALDI...
ANS. IS GP 14070/- N NET PROFIT 6270/-
BUT SOLVE IT FOR ME..KAISE KARNA HAI..UNABLE TO GET THIS REQUIRED ANSWER... THANKS
CAclubindia
