Ledger Test 6...

X and Y enters into a Joint venture for sale of antique items, X send goods worth Rs 60000 to Y 3/4 of which were sold by Y for Rs 90000 and remaining were taken over by him at the same gross profit margin at which the goods were sold to the outside customers less 20% discount on such value. Y's A/c will be debited for the goods taken over by Rs ___

What would be gross profit from the following information:
Opening stock Rs. 20,000, Purchases Rs. 100000, Wages Rs.11,000,Sales Rs. 150,000, Closing stock 11,000

Any entry on the debit side of a personal account means

Goods send on sale or return basis would be recognised sales only when

The term debit has been derived from the ..... word "debere".

The document listing the latest balances of all the accounts in the ledger on a given date is known as-

suspense A/c is......

Which of the following is a capital expenditure?

Which method of inventory valuation give in flated value of closing stock when prices are falling?

Trade discount is shown in ....