Aare yaar somebody help me in this branch accounting ques pl

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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

Replies (8)

SOLVE IT PLSS...ANYBODY..WAITING..

find the attached file

just let me know if you have any doubt. that file opens in ms office 2010 only so m again uploading that in 2003 version

sir that is what am asking you..how to calculate CLOSING STOCk...wahi nhai aa raha baas.

i tried it n trying it from last half n hr bt closing stock nhai aa raha..need tht calculation of closing stock..

add opening and purchases then deduct the cost value of sales from that figure

Cost of sales is 154770/110*100 = 140700

So closing stock = 15000+140000-140700= 14300

ahh..okay..i get it

thanks a loadsssssssssssssssssssssss sir... very much obliged...thank you


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