Interested to Buy Any Domain ? << Click Here >> for more details...
opening stock rs.6000
purchases rs.22000
cash sales rs.18000
credit sales rs.12000
calculate closing stock if rate of gross profit on cost of goods sold 25%.
- 3 Answers
- 5299 Views
- State Bank of Mysore SBM, I also Faced
- E-Mail Answers
Answer Posted / ketan bhatt
Profit margin should not be added to closing stock. it will increase your GP and NP. Closing stock should be calculated @ it is purchased.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
please tell me when co. owner invest money in his family members bank a/c. not any transaction came in business can we do this bank statement in tally ?
What are mis reports and do you prepare it?
By saying, perpetual or periodic inventory system; what do we mean?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Were i have to enter for agreements in tally and in which ledger it will come
Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????
What is the formula for acid test ratio in accounting?
TDS %AGE ON CALLIBRATION CHARGES BILL
describe the rule of garner vs murray and how it relates to the dissolution of a partnership
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
Explain me what makes a successful account manager?
What is service tax & excise?
What is an interest rate swap
how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..
IS THERE ANY DIFFERENCE BETWEEN PAID UP CAPITAL AND PAID IN CAPITAL?
