Q1) thw value of inventory as on april04 is Rs1,60,000. the following transactions takes place during april 01 to april 04. The value of stock sold is Rs 40,000. The mode of sales is as follows:-
-- The damaged goods are sold for Rs 15,000,Sold at 25% below cost.
-- The remaining goods are sold at cost plus 25%.
The value of stock as on 31st march is(damaged goods valued at NRV)_________
a)Rs2,00,000 b)Rs1,95,000
c)Rs2,05,000 d)none of the above.
Q2 The manager earned a commision of Rs25,000, which is based on 10% of net profit.
if sales is Rs 3,50,000 is more than purchases.
No opening & closing stock. Find direct & indirect expenses?
a) Rs 75,000 b)Rs1,00,000
c)Rs2,50,000 d) not attainable.
please explain me how to slove this :)
CAclubindia
