Please Help: Account
Posted Date : 02-Dec-2011 , 07:44:37 pm | Posted By: Puran Chand
Category :
Accounts | Answers :
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Comments :
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X Consigned goods to Y Costing Rs.30000 at Cost plus 25%. These Goods are to be sold at Invoice Price
Plus 10%. Y sold a part of goods for Rs.33000. What will be the Value of Stock lying with Y to be shown by
X at the Closing of Accounts |
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Answers:
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 Answer by: Ashish Karundia |
| Dear Puran, Value of goods sold by Y - 30000 (33000/110%) Value of such goods for X - 24000 (30000 - 30000*1/5) Therefore, value of closing stock for x in respect of stock lying with Y is Rs. 6,000 (30,000 - 24,000). Hope the above suffice.
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| Comments |
| Posted By : Puran Chand |
03-Dec-2011, 07:54:47 |
| Thank You very much Respected Sir......................
I Got it.
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| Posted By : Ashish Karundia |
02-Dec-2011, 11:25:46 |
| Dear Puran,
Value of goods sold by Y - 30000 (33000/110%)
Value of such goods for X - 24000 (30000 - 30000*1/5)
Therefore, value of closing stock for x in respect of stock lying with Y is Rs. 6,000 (30,000 - 24,000).
Hope the above suffice. |
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