Cpt accounts urgent

A/c entries 989 views 20 replies

JAINENDRA JAIN

ACS/CA

1668 Points Joined February 2010

ans is a)100000/-

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

COGS = OP STOCK + PURCHASE - CLOSING STOCK. LET CLOSING STOCK BE x. So opening stock is two times more than closing stock I.e x+2x Purchase is twice opening stock ( which is3x) So purchase is 6x So on solving X = 50000 6x = purchase = 300000 rs.

kathirvalu arjun

lawyer

23 Points Joined June 2014

COGS= OP.STOCK+PUCHASE-CLO.STOCK 5lks =2lks +4lks -1lks So purchase = 4,00,000/-

kathirvalu arjun

lawyer

23 Points Joined June 2014

OP.stock=2(CLO.stock) , x=2x. Clo.stock=2puchase 2x =2(2x),therefore purchase=4x By solving we get x=1,00,000/- So 4x=4,00,000

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

Please read the terminologies used .. 2 times MORE ... and twice .. so this cannot be same in my opinion.

banadeep

nil

21 Points Joined January 2014

Let closing stock is a random constant x this implies openin stock is 2x now purchase is double f openin stock thus purchase is 4x!! Putin in eqn 500000=4x+2x-x thus x=100000 N purchase is 400000!! N stating if 2times more n Twice convey not the same sense then eqn wud be reduced to 8x=500000 whr 6x wud be purchase!!

JAINENDRA JAIN

ACS/CA

1668 Points Joined February 2010

Sorry I forgot to multiply my answer with 4 . ans would be 400000.

Akhilesh Deshmukh

ARTICLE

86 Points Joined August 2012

COGS= 500000

Opening Stock= 2* Closing Stock

Purchase=2 * Opening Stock

COGS= Opening Stock+ Purchase-Closing stock

500000=Op Stk+ 2Op Stk- Op Stk/2

500000=(2Op stk+4Op stk -Op Stk)/2

Op stk= 200000

Therefore Purchase = 400000

Hari Mundayur

CA IPCC

184 Points Joined January 2014

Got answer from my friend.. I dont know whether its the correct one.

"Let closing stock be x , therefore, opening stock will be 2x, and purchase will be 4x,.

Cost of goods sold= opening stock+ Purchases-Closing stock (As per given example)

ie, 2x+4x-x = 500000

5x = 500000

x= 100000

closing stock(x) = 100000

Opening stock (2x) = 200000

Purchase (4x) = 400000

Is it the way to answer?

U.V S KIRAN

Student

27 Points Joined June 2014

your approach is absolutely correct. but I found calculation mistake in answer. I think X = 62500. and purchases = 375000. but unfortunately it is not there in options.