Answer Posted / vinotha.v
COST OF GOODS SOLD =
opening stock + purchase (purchase - purchase return) +
direct expenses - closing stock.
(OR)
COST OF GOODS SOLD =
SALES (sales - sales return) - GROSS PROFIT.
| Is This Answer Correct ? | 23 Yes | 3 No |
Post New Answer View All Answers
how to entery pass in tally when items damage(items insured)and claim to insurance co.
i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp
duties of bank finance manager
why the closing stock is not considered in drawing trail balance.... Are there any other items like the above
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
Expand---------SDRT?
(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
discounted our own note 60-18% for 4,500 note. the proceeds will be directly credited to bank account. what is the entry of this?
Paid vehicle insurance of Rs 12000 on 1-1-2009. Pass entry at the of payment and also create prepaid insurance account
What is written off?
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
What is the difference between payable and accrual
Expand---------DEP
Whatis new GL & Odd G.L What is the difference between these two.