Question

2. From the following particulars ascertain the value of stock as on 31st March, 2019:
₹
Stock as on 1.4.18
14,250
Purchases
76,250
Sales
1,24,500
Manufacturing expenses
15,000
At the time of valuing stock as on 31st March, 2018, a sum of 1,750 was written off on a particular
item, which was originally purchased for 25,000 and was sold during the year for * 4,500. Barring the
transaction relating to this item, the gross profit earned during the year was 20 per cent on sales.
[C.A., Inter.]
11
110 m​

Answer 1

Answer:

1/4/18. stock a/c dr. 14250. -

to capital a/c. -. 14250

purchase a/c. dr

to cash a/c.

Answer 2

Answer: 6250

Explanation: 14250 - 3250= 11000 = Cost of  normal goods

                     11000+ 76250+15000= 102250

                     124500-4500=120000*20%  = 24000 = G.P

                     102250 + 24000= 126250= total of dr. side

                     126250-120000 = 6250=Value of stock on 31st march 2019