plzzzzz explain.
1)Sundry debtor on 31st march 2010 are Rs. 1,05,000. Further bad debts are rs. 5,000, sales return recorded in the books rs. 10,000.
Old provision for bad debts is Rs.4,000. Provision for doubtful debts is to be made on debtors @ 10% and also provision of discount
is to be made on debtors @ 3%. What will be the amount for bad debts charged in profit and loss a/c after considering provision for
doubtful debts?
a)2,700 b)10,500 c)12,700 d)6,000
2)Naveen of Nagpur sends out 1,000 boxes costing 1,00,000 to Deepak of Delhi at cost+20%
consignor's expenses were:
Freight rs.6,000
Insurance rs.2,000
consignee's expenses were:
Loading and Unloading charges rs.10,000
Salesman salary rs.6,000 and
Commission 2% on Gross sales.
What will be the amount of profit if 3/4th goods sold by consignee at 1,00,000
a)5,500 b)6,500 c)7,500 d)3,500
CAclubindia
