Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 October 2011
If opening stock is Rs.40000; Net purchases are are Rs.210000; Direct costs are Rs.16000; Sales are Rs.340000; Sales returns Rs.40000; and the G.P. rate is 30%, then the value of closing stock would be:
How to calculate it?
How to calculate it?
25 October 2011
Os 40000
Purchase 210000
Dc 16000
Sales(net) (300000)
GP(30% of sales) 90000
------
Closing stock 56000
Purchase 210000
Dc 16000
Sales(net) (300000)
GP(30% of sales) 90000
------
Closing stock 56000
25 October 2011
opening stock + net purchases + direct costs + Gross profit = Sales + closing stock
let closing stock be x
40000 + 210000 + 16000 + 90000 = 300000 + x
356000-300000 = x
x = 56000
closing stock = 56000
let closing stock be x
40000 + 210000 + 16000 + 90000 = 300000 + x
356000-300000 = x
x = 56000
closing stock = 56000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
