FS of Sole Proprietorship Test - 7

Purchases Rs.1, 00,000; opening stock Rs.12,000, closing stock, Rs. 8,000. Calculate adjusted purchases

Stock as on 01.04.2010 Rs.10,000; Sales Rs.2, 00,000; Purchases Rs.1, 45,000; carriage inwards Rs.4,000; clearing charges Rs.5,000; sales returns Rs.1,500; purchases return Rs.2, 000; carriage outward Rs. 2,500; stock as on 31.03.2011 Rs. 15,000. Calculate cost of goods sold

Stock as on 01.04.2010 Rs. 10,000; Sales Rs. 2,00,000; Purchases Rs. 1,45,000; carriage inwards Rs. 4,000; clearing charges Rs. 5,000; sales returns Rs. 1,500; purchases return Rs.2,000; carriage outward Rs. 2,500; stock as on 31.03.2011 Rs. 15,000. Calculate gross profit

Calculate cost of goods sold : Opening stock Rs.2,00,000; purchases Rs. 3,50,000; closing stock Rs.1,20,000; Wages Rs.2,500; freight Rs.4,500; carriage outward Rs.5,500; trade expenses Rs. 2,500

Calculate the amount of purchase from the following information. Purchase: Rs.280000, Return outward: Rs.5000, goods distributed as free sample: Rs.2000, goods costing Rs.1500 taken over by owner

If the rate of gross profit is 25% on cost by goods sold and the sales are Rs.200000, the amount of profit will be _______.

73. The manager is entitled to commission of 2% on profits before charging such commission. The profit is Rs. 6000 therefore the commission would be

A new firm commenced business on 1st January 2011 and purchased goods costing Rs.90000 during the year. A sum of Rs.6000 was spent on freight inward. At the end of the year the cost of goods still unsold was Rs.15000 (market value Rs.10000). Sales during the year were Rs.120000. What is the gross profit earned by the firm

Insurance paid Rs. 4000 (including premium of Rs. 3000 per annum) paid up to 30th June what will be the adjusting closing entry on 31st March