Accounts doubt

CPT 1270 views 9 replies

 A purchased 1000 kg rice costing 200\each......A exp 5000.....4/5 th of goods sold by B at rs 250/each......remaining taken over by B at cost ......the amt of stock taken over will be?  

Replies (9)

rate doesnt matter.he sold all the goods so no stock left with him.

Per Cost of per kg.=

1000*200=200000+5000=205000/1000=205

 

Sold=800

Reamining=200

Cost of Reamining stock = stock taken over by B  @ cost      

= 200units*205per cost= Rs. 41000

thanks bro....and pls also explain the below questions......

1) m & n enter into joint venture, m supplies 6000 worth of goods and n sold lot of 7500 &  exp of M 100 & N is 200 P&L sharing is equal.....amt of remittance N to m will be?  pls explain with answer..........  

2) P & Q shared p&l 3:2....p purchased goods costing 200000.other exp 10000......Q sold goods 180000....remaining goods taken over by Q at 20000.....amt of final remittance to be paid by Q to P will be?  

3) A bought goods  worth 10000 & consigned to B to be sold by them o a joint venture profits & losses shared equally.............A paid exp 1000.... A draws bill for 3 months  & discounted with 9500 B sold goods for 15000 commission payable to b is 500.....amt remitted by B to A is ?   pls explain........

thanks in advance......
 

 

 1.
                  jv a/c
        
     6000         |      7500
m    100         |
n (exp)   200          |
 
profit 1200
  m    600
  n      600
  
                     N a/c
 
       7500  |   profit                    600        
                      exp                       200
          
                     remitance          6700     
Sorrry,in hurry i didnt  put exp in cr side of N a/c.
 
2.
  loss=10,000
 p=6000
q=4000
 in  Q a/c post loss 4000 in debit side +sale 180000 +take over 20000
so,remitance=204000
3.
take discounting charge as expense so post in debit side in JV a/c
in  B a/c  take bills payable 10000
so,remitance  is 3000
 
note-follow process as in 1

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Originally posted by : aks

 

 1.

                  jv a/c

        

     6000         |      7500

m    100         |

n    200          |

 

profit 1200

  m    600

  n      600

  

                     N a/c

 

       7500  |   profit                    600           

                     remitance          6900     

 
but in study material they give amt of remitance is 6700?
 

 

@ Harish raghav

 

Brother , there are plenty of questions in Study materials whose answers has been given wrong :;-D

it might be one of them

The solution given above is correct ;-D

if the answer is wrong its k ......but there s no option.....

the opt are gvn in study material 

a)6700

b)7300

c)6400

d)6100

wat can i do?

@ harish

Leave that question bro 

You know what is  the right answer then why spenting so much time on this


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