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
- 16603 Views
- ICA, I also Faced
- E-Mail Answers
Answer Posted / mohit kumar
ARJU Answer for Your Question
Closing Balance of Cash Rs.199500/-
Closing Balance of Bank Rs.140000/-
Creditor Rs.50000/-
Debtor Rs.30000/-
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
what do you consider to be the biggest challenge facing the accounting profession today?
why you want to lecturer
Tell me the stages of double entry system?
Tell me what is the equation for acid-test ratio in accounting?
How new/innavtive assets are to be treated under IFRS?
Can we Put "TAX INVOICE" in the sale in Transit (E1) Invoice.
salary and rent entry with tds deduct
What is a cpa?
a person have to buy 2kg items out of 4 differnt price tag item i.e potatoo rs. 10 kg, onion rs. 5 kg , radish rs. 1 kg, and chilli rs. 1 kg in rs 10 how can he do
whether bills of exchnge can come under the category of reserves and surplus
ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
Kindly define necessary ledger is to maintain in excise. Kindly define how we maintain P.L.A
A factory uses annually 24,000 units of a raw material which costs Rs. 1.25 per unit. Placing each order costs Rs. 25 and carrying cost is 6% per year of the average inventory. (a) Find the economic order quantity and the total inventory cost including the cost of material.
what is the difference between accounting and bookkeeping?
EXPLAIN EACH SECTION PROVISIONS ON TDS?
