Pls help anybody... confused in these question

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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 :)

 
Replies (10)
Ans 1) value of stock as on 31st March is rs. 2,00,000 Now inventory value is 160,000 nd sold stock value is 40,000 so stock is 2,00,000 Ans 2) rs. 75,000 350,000 sales-250,000 profit- 25000 commission so its 75000

Ans. 2  Let Purchase is =x

Then, Sale is = x+350000

and there is no opening stock & closing stock according to querry, so Gross Profit is =350000

Manager Commission is 10% of Net Profit = 25000

so, Net Profit is =25000*100/10= 250000

Total Expenses is =350000-250000=100000

in this Rs.100,000, 25,000 is Manager Commission so, Direct and indirect expense is Rs.75000

(100000-25000). :)

 

a)Rs195000

         
4th April 160000      
Value of stock sold during 1st to 4th april 40000 Cost Sale  
20000 15000 Damaged
    20000 25000 Good
         
Stock Valued on 31st March Cost Valuation**  
Damaged Stock   20000 15000  
Remaining Stock   180000 180000  
      195000  
** Valuation of Stock at      
Cost or NRV, whichever is lower    

b) Rs 100000(incl.Manager Commission) 

Rs. 195000 same concept of dipesh
Direct and indirect exp. Will be Rs. 100000
Ans by jagdish is the most convinient one
Indirect expenses is equal to 100000 including manager commission but direct exp. are not attainable . Here direct expense is purchases because of direct exp. Is part of cost of sale.
Answer by deepesh is most relevant
Ans by Deepak is relevant

ans 1)  Rs 195000

ans  2)  Rs 75000

 


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