Final Accounts ...

Inventory, is generally valued as lower of ________________.

If the rate of gross profit on sales is 25% and the cost of goods sold is Rs. 75,000, then the amount of total sales will be _________.

Abnormal loss is debited to _________.

EOQ determines the order size when ______________.

Depreciation on machinery amounting to Rs. 25,000 is appearing in the Trial Balance of a firm. When preparing Final Accounts, it should be shown in ________________.

If the opening capital is Rs. 50,000 as on April 01, 2005 and additional capital introduced Rs. 10,000 on January 01, 2006. The interest charge on capital 10% p.a. The amount of interest on capital shown in profit and loss account as on March 31, 2005 will be:

The manager is entitled to a commission of 5% of net profit after changing such commission. 

An insurance claim of Rs. 300 was accepted in respect of stock of Rs. 500, which was destroyed by fire, Rs.200 not covered by insurance should be debited to ______________.

The following are the figures relating to a trader:
Opening stock - $$Rs.10,000$$
Closing stock - $$Rs.11,000$$
Purchase - $$Rs.70,000$$
The goods are sold at a profit of $$30$$% on cost. The amount of sales will be ____________.