Hello,
please any help to solve following qusation
1) Calculate closing stock if --
opening stock = 60,000
Purchesed = 90,000
sales = 1,20,000
Gross profit on cost = 33 1/3 %
cost of goods lost in Rs- 15,000 Insurance Claim Received Rs- 5,000
A) 40,000
B) 45,000
C) 55,000
D) 60,000
( Please post here how calculate closing stock for above qusation )
2) If the market value of closing invetory is less then its cost price, inventory will be shown at -------
A) Market price
B) Net reasonble price
C) Book value
D) None of these
3) If a Partnership exceed the minimum number of persons that called------
A) Illegal
B) Legal
C) Unlawful
D) Company
4) Fixed asset are double the current asset and half the capital. the current assets are Rs-3,00,000 and investments are Rs-4,00,000 then the current liabilities recorded in balance sheet will be ?
A) 2,00000
B) 1,00000
C) 3,00,000
D) 4,00,000
CAclubindia
