12TH
86 Points
Joined December 2012
8. The following details related to a trading
concern for the year 2010: opening stock
Rs.4,000, purchases and sales during the year
Rs.36,000 and 35,000 respectively. Profit on
sales 20% uniform throughout the year. 50% of
the closing stock was found to be obsolete and
estimated to fetch only 50% of cost. The value
of closing stock at the end of the year will be:
a) Rs.9,000 b) Rs.12,000
c) Rs.6,000 d) Rs.10,500
49. The bank column of a trader sh