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Answer Posted / vandana sharma
Bank Reconcilation Statement.
it give us the idea about how much is the balance in our
account, how much cheques we have issused which are yet not
presented in bank & how much cheque we have received which
are yet not cleared .
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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?
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