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?
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Answer Posted / vaibhav
Op. stk=50000
2)sales cost=20000 50000-20000=30000
3)purchase=45000 stock=30000+45000=75000
4)payment =30000to suresh due=15000-dis=1000=14000
5)sales cost=12000 75000-12000=63000
6)sales cost=9000 63000-9000=54000
7)receipt from gangadher=11500
8)carriage=2000
there is no more sales or purchase tranzaction therfore
closing stock=54000
and no more payment tranzaction to suresh therfore
due to suresh is=14000
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