The following are the transactions with respect to goods
traded by Gopal-
i) Purchased goods worth Rs.50,000 on 1-1-2005 for cash
ii) Sold goods costing Rs.20,000 for Rs.30,000 on cash
iii) Bought goods Rs.45,000 from Suresh & Co on credit
iv) Paid Rs.30,000 to Suresh who gave us a discount of Rs1,000
v) Sold goods Rs.23,000 but their cost is Rs.12,000 for cash
vi) Sold goods to Gangadhar for Rs12,000 on credit,(cost Rs
9000)
vii) Received cash from Gangadhar Rs.11,500 in full settlement.
viii) Paid carriage charges on the goods purchased Rs.2,000.
Find out the closing stock as on 31 -1-2005. Also, find how
much is still due to Suresh?
- 14 Answers
- 16593 Views
- ICA, I also Faced
- E-Mail Answers
Answer Posted / vaibhav
op.cash bal=200000
cash sales= 27000
cl.cash bal=227000
2)op.bank bal=150000
purchase fur=-25000
pur. goods= -50000
sold goods= +30000
busi.exp= -2500
withdrawals -10000
cl.bal = 92500
dear arju these r simple problems
tell me what is your proffesion
| Is This Answer Correct ? | 1 Yes | 2 No |
Post New Answer View All Answers
HOW DOES THE ROLE OF THE MANAGEMENT ACCOUNTANT COMPLIMENT THAT OF THE FINANCIAL ACCOUNTANT
What is the difference between deferred revenue and accrued revenue?
What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.
what will be the treatment of preliminery expenses if due to preliminary expenses being written off there results a loss?
What are accounting rules called?
In accounting, vat abbreviates what?
What are the activities that are included in the cash flow statement?
service tax calculated on agreement value or market value whichver is higher for builders?
WRITE ABOUT ANY 1 "WOMENS ARE BEST MANAGEMENT PERSON" "IF UR FINANCE MINISTER OF INDIA" "V R RESPONSIBLE FOR OUR ENVIRONMENT"
AL+w button lanunches the .............. installed web brower
Real,Nominal or Personal. Where do reserves, general reserve and Specific Reserve Go? and why?
April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.
My Brother is running a small business of Window glasses & Mirror etc. He needs Bank Loan (CC/OD Limit)against current account. So, I need a project report to apply CC Limit. Please Help me. My EMAIL ID is :- savichawla_1703@yahoo.co.in Kindly send the report to above ID ASAP. Thanks & Warm Regards Sarvpreet +919888669523
What is peach tree accounting?
Explain what is liabilities and what all does include in current liabilities?
