Please Help: Account
Posted Date : 02-Dec-2011 , 07:44:37 pm | Posted By Puran Chand
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
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
Category : Accounts | Answers : 1 | Comments : 2 | Hits : 556
Answers
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.
Comments
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.