#### Can someone answer this qiz

Page no : 5

krina (student) (1263 Points)
Replied 10 December 2012

Yogesh Bhandari (CA FINAL Student) (429 Points)
Replied 10 December 2012

Dear krina, Thanks to end up the whole discussion because some people don't want to accept that the answer is Rs. 1000/- and make their own logics to fix the situation with their systematical answers.

shibu (Accountant) (325 Points)
Replied 11 December 2012

Loss is Rs 2000.

Ramachandran Venkataraman (CEO) (25 Points)
Replied 11 December 2012

The cost of the goods                           =    X

Excchange currency loss                    =   1000

Total loss is                                            = 1000+X

RAMACHANDRAN.V

shibu (Accountant) (325 Points)
Replied 11 December 2012

Thank u friends

darth (software) (24 Points)
Replied 11 December 2012

The correct answer is Rs. 1800. We cannot ignore the fact that on single duplicate Rs.1000, actual transaction of Rs.2000 is taking place twice. In other words real money worth Rs.2000 is being circulated on fake currency .

The value of good will be nullified since shopkeper1 has already kept real Rs. 200 in his pockect in exchange of good.

Since shopkeper1 returned real Rs.800 to the lady, that is Loss A. Now this transaction happened between shopkeeper1 and the Lady, the liability will come on shopkeeper1 himself. (Since this is a hidden loss, people are ignoring it.)

Now Shopkeeper 1 also has to return real Rs. 1000 to shopkeeper2 which is Loss B. (This is a direct visible loss, which people are considering)

Therefore suming up A+B = 800 + 1000 = 1800 /- is the actual loss.

CA.ANKUR BILOTIA (PROFESSIONAL) (25 Points)
Replied 11 December 2012

Answer is very obvious..........Rs. 1000 would be total loss to  the shopkeeper

sanjay jain (partner) (34 Points)
Replied 11 December 2012

1000=00

C.A. Rahul Kaushik (Job) (923 Points)
Replied 11 December 2012

well from loss of rs. 1000 u also hav 2 deduct the profit margin ....lol

krishna (Account & Tax Consultantes)   (60 Points)
Replied 12 December 2012

Dear all,

It's logical transaciton and think twice before ans, bcoz u r a CA or become a CA.

Actual ans is rs. 2000,

becouse

he sale goods worth rs. 200

then he return return rs. 800 to ledy

and what about duplicate note, he get change from other shopkeeper , so he have to return his 1000 to that shopkeeper

so total loss rs. 2000.

shibu (Accountant) (325 Points)
Replied 12 December 2012

 Originally posted by : krishna Dear all, It's logical transaciton and think twice before ans, bcoz u r a CA or become a CA. Actual ans is rs. 2000, becouse he sale goods worth rs. 200 then he return return rs. 800 to ledy and what about duplicate note, he get change from other shopkeeper , so he have to return his 1000 to that shopkeeper   so total loss rs. 2000.

Please note that he received Rs1000 in exchange of the fake note. From this amount he paid to the Lady, not from his hands.

Therefore the total loss to the shopkeeper is Rs1000.

Anyway good question. Thanks to the questionnaire

C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.)   (1814 Points)
Replied 12 December 2012

Correct Anserr is Rs. 800/- as under

1.) Paid Rs 800/- Against duplicate Note --------------- (Loss of 800)

2.) Rs 1000 received from another person assume as a loan because the note is duplicate

and hence he as given loan afterwards

3.) Rs. 200/- is kept against goods sold - there is no profit no loss.

Mathematically

a. Paid to another person --------------- 1000

Paid Goods worth -------------------- 200

Total Loss                                     2000

Less: Recd from another person------  1000

Kept Rs. 200 with him- -------------200

Net Loss                                                       800

In nutshell - DUPLICATE NOTE SHOULD NOT BE CALCULATED/ CONSIDERED

C.A. Rahul Kaushik (Job) (923 Points)
Replied 12 December 2012

ALL girls and guys whoever is saying answer other than rs. 1200
shoulg go home and learn Marginal Costing from CA Final Syllabus.

SAHIL AGGARWAL (ca) (21 Points)
Replied 12 December 2012

 Originally posted by : Mansi Kotecha Rs.200

C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.)   (1814 Points)
Replied 12 December 2012

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Accounting

CA Rahul Malkan