Final Accounts ...

Apprentice premium is the amount ________________.

The total cost of goods available for sale with a company during the current year is Rs. $$12,00,000$$ and the total sales during the period are Rs. $$13,00,000$$. If the gross profit margin of the company is $$33$$ $$1/3\%$$ on cost, the closing inventory during the current year is __________?

Which of the following is not a condition for issue of shares at a discount?

Goods given as charity should be credited to _______________.

While making an adjusting entry in respect of closing stock, we debit ______________.

Linux Ltd. maintains the inventory records under perpetual system of inventory. Consider the following data pertaining to inventory of Linux Ltd. held for the month of March 2005:

Net realizable value means _______________.

If sales revenues are Rs. $$4,00,000$$; cost of goods sold is Rs. $$3,10,000$$ and operating expenses are Rs. $$60,000$$ the gross profit is ____________.

A Trial Balance contains the following information:
I. 15% Bank Loan    Rs. 40,000
II. Interest Paid        Rs. 4,500
Interest debited to P & L A/c will be:

In the Trial Balance, Debtors are Rs. 2,400, Bad Debts Rs. 221, Reserve for Doubtful Debts Rs. 324. For creating a Reserve for Doubtful Debts @10% on debtors, the P & L A/c will be debited by __________.