calculate closing stock from the following information. opening stock 30000, purchase 470000,sales460000,wages26000,carriage15000, advertisement 10000,gross profit 47000(128000 answer) explain
Answers
Answer:
Explanation:
Calculations of closing stock will be as under:-
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Trading A/c
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To opening stock 30,000.00 By sales 4,60,000.00
To purchases a/c 4,70,000.00
To wages 26,000.00
To carriage 15,000.00
To Gross Profit 47,000.00 By closing stock 1,28,000.00
Difference
Total 5,88,000,00 5,88,000.00
Note: Expenses on Advertisement is not a factor to be considered while calculation of cost of closing stock)