Question

22. In the books of Arundhati company Opening Creditors for Loose tools 5,850 Closing Creditors for Loose tools 7,410 Opening Stock of Loose tools 3,120 Closing Stock of Loose tools 3,900 Cash paid to suppliers of Loose tools 48,750 Find cost of Loose tools consumed​

Answer 1

Answer:

(i) Fixed Assets (Tangible): Office Equipment, Land, Building, Furniture, Vehicles, Plant.

(ii) Fixed Assets (Intangible): Goodwill, Trademarks.

(iii) Captial Work-in Progress: Work-in-Progress (Machinery),

(iv) Long-term Loans and Advances: Advance to Subsidaiaries, Deposits with Electricity Supply Company.

(v) Inventories: Loose Tools, Stock-in-Trade, Stores and Spare Parts.

(vi) Trade Receivables: Bills Receivable, Debtors.

(vii) Cash and Cash Equivalents: Cash at Bank, Cash in Hand.

(Other Current Assets: Interest Accured on Investments.