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Q. > Please Help: Account
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
1 Answers
answered Dec 02, 2011 by Ashish Karundia , New Delhi
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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Ashish Karundia
02-Dec-2011 , 11:25:46 pmDear 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.
Puran Chand
03-Dec-2011 , 07:54:47 amThank You very much Respected Sir...................... I Got it.