#41
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now how can u find finished goods closing inventory is simple.... just follow this ( Opening stock + purchases/manufactured - closing stock= cost of goods sold/consumed/manufactured) now these are stages of GOODS: follow above equation for 1. Raw material and the 2. WIP and finally 3. Finished goods. there is short cut too but dnt bother solving this way. Supertendence expenses 2000------> its factory overhead (FOH) less it from GROSS PROFIT Raw material purchased 230000----> add it as mentoined in above equation Finished goods inventory 1st january 200 units, sold during the year 2011, 5500 units @ Rs. 300 per unit and the closing inventory of finished goods at 31st December 2011 was 550 units------> Openig invtry ka rate 500 he so take it as rate of closing too. then multiply 550 X 500= 275000 |
The Following User Says Thank You to MOMIN ALI For This Useful Post: | ||
seher bano (Wednesday, October 09, 2013) |
#42
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#43
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Can anybody tell me, is numerical question fetch good marks or theoretical is rewarding?
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#44
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& theory for paper B (except cost & tax). |
#45
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solution for question 6
net profit 27000
add inadmissible expenses reserve for doubtful debt 7000 cost of debenture issue 2500 loss of embezzlement 5000 provision of gratuity 10000 depreciation 15000 income tax 21000 less depreciation 11800 dividend 15000 (26800) total taxable income 60,700 tax liability 60700x 35% 21245 dividend 15000x10% 1500 total tax payable 22,745 PLEASE SOMEONE TELL ME IF IT IS RIGHT OR NOT.. IF NOT WHERE AM I WRONG. QUICK REPLY IS MUCH APPRECIATED |
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