Answer Posted / deen dayal
Supposed paid Rent 25000 to x for m/o June-15 journal entry as under
Rent account Dr.25000
X account Cr 22500
TDS on rent cr 2500
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closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
