Interested to Buy Any Domain ? << Click Here >> for more details...
X of Kolkata sends out goods costing 300,000 to Y of Mumbai
at cost + 25%.
Consignor’s expenses Rs 5000. 1/10th of the goods were lost
in transit. Insurance claim
received Rs 3000. The net loss on account of abnormal loss
is
(a) Rs.27,500
(b) Rs.25,500
(c) Rs.30.500
(d) Rs.27,000
- 2 Answers
- 7384 Views
- I also Faced
- E-Mail Answers
Answer Posted / harikaatteli
Goods sent 300000 Lost - 300000*10/100 = 30000 ( Abnormal Loss) For abnormal loss u need to add Consignor's expensess i.e for 30000 which is lost. So 5000/300000*30000 = 500. Total Abnormal loss is 30500 - 3000( Claim) = 27500.00
| Is This Answer Correct ? | 17 Yes | 1 No |
Post New Answer View All Answers
What is deferred account?
What are the 4 principles of gaap?
Why does the accounting equation have to balance?
Spinoff,Spelloff
How the Depreciation will calculate in Company?
what is the new rate of c.s.t in uttraklhand
The main financial accounting statements?
Explain me how much mathematics knowledge is necessary or required in accounting?
The Horse bought rs. 2000 on Jan.20th died, its carcase was sold for rs.50 loss rs. 1950 what is journal enty
How many invoices on average do you handle on a weekly/monthly basis?
Types of errors in account
Tell us what is the abbreviation for the accounting terms debit and credit?
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
how to deduct tds on income from other sources with examples
What knowledge should financial accountant have?
