Final Accounts ...

Sequence of effect on debtors is ____________.

The percentage of the commission is applied on the profit either:
1. Before charging such commission 
2. After charging such commission.

Stock of Rs.4,000 is destroyed by fire, It was not insured, The accounting entry is ________________.

From the following details calculate Net Purchases of Universal Ltd.
Opening stock                                                =50,000
Manufacturing expenses                                = 30,000
Selling and distribution expenses                   =Rs. 20,000
Administrative expenses                               =Rs. 10,000
Financial expenses                                       =Rs. 5,000
Closing stock                                                  Rs. 25,000
Sales                                                              Rs. 2,40,00
Gross profit on sale                                        25 %

XY Associates Trial balance as on 31-3-2013 shows the balance of Sales A/c as Rs. 1,85,000. While checking the books of account the following discrepancies were noticed.
(a) A sales of Rs.2,560 was recorded in the sales day book as Rs,650
(b) Total of sales day book for the month of May 2012 was short by Rs.2,000.
(c) Sales includes sales proceed of dead stock sold Rs.6,000
From the above details, calculate the actual sales to be shown in Trading A/c .

Producers inventories like livestock, agricultural and forest products, mineral oils, ores and gases are valued at__________.

From the following details calculate the missing figure.
Purchases = ______
Manufacturing expenses = Rs. 40,000
Direct expenses = Rs. 20,000
Selling and distribution expenses = Rs. 23,000
Administrative expenses = Rs. 12,000
Sales Rs. 2,80,000
GP 25% on sales

From the following details,_______will be charged to profit and loss A/c as bad debts during the current year.
Provisions for bad debts A/c at the beginning of the year Rs.24,000
Actual bad debts during the year Rs.20,000
Closing balance of Debtors. Rs.80,000
Provision for bad debts to be made @5% of total debtors.

From the following details calculated the managerial commission.
Net profit before charging managerial commission Rs.65,000
Managerial commission 11% after charging such commission.

Calculate, sales from the following details :
Opening stock  Rs. 4,000