Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times

2306

How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?

2373

what is the main link between the income statement and the balance sheet?

2128

plz send all previous question papers for SBI clerical post.My email id is mechabhilash6@gmail.com

2006

IF I RECD ANY BILL TOWARDS PRINTING OF FORMS, VOUCHERS AND ON SAME VAT IS CHARGED 5%, IS TDS IS ALSO APPLICABLE FOR THE SAME.

1818

barwaha

1087

What is adi?

366

iam working with tally ERP.9,but iam dont prepared reconciliation,trial balance,profit&loss,balance sheet etc.bcoz all these activicties done in head office.plz give me citeria where iam prepared.

3042

define double entry bookkeeping

2287

What is excise & service tax? What is the difference?

1048

what is the rate of vat,cst,in mumbai

1696

Under Accrual Accounting, How Are Worker Comp Premiums Handled?

1111

Mention why some asset accounts have a credit balance?

1069

What are events occuring after the balancesheet date?

2209

how to get input credit in vat & service tax

2680