Short Answer on ______________House Rent allowance

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Short Answer on ______________Import Trade

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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?

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expand C A

5 Answers  

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Revenue from sale of products is generally realized in the period in which 1.Cash is collected 2.When sale is made

3 Answers  

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Which document should be attached with purchse & sales invoice?

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what is journel entry

3 Answers   Cognizant,

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What is provision for depreciation? What is it entry in P&L & Balance sheet? How it is different from Depreciation expense?

5 Answers   EEE, Genpact, IBM,

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Expand ------AQIM

2 Answers  

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Expand A D T A

2 Answers  

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how many type of assets

23 Answers  

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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

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