Calculate closing stock from the following:
Opening Stock Rs. 36,000; Purchases Rs. 45,000; Purchases return Rs. 5,000, Wages Rs. 7,000; *
Sales Return Rs. 10,000, Gross loss Rs. 4,000; Carriage outward Rs. 2,000, Net sales 70,000.
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Calculate closing stock from the following:
Opening Stock Rs. 36,000; Purchases Rs. 45,000; Purchases return Rs. 5,000, Wages Rs. 7,000; *
Sales Return Rs. 10,000, Gross loss Rs. 4,000; Carriage outward Rs. 2,000, Net sales 70,000.
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Explanation:
Identify the 'Accounting Concepts' involved in the following:
Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in the
Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.
Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.
Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.c) Accounts are prepared at the end of every year.
Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.c) Accounts are prepared at the end of every year.d) Same accounting methods are used year after year.