Question

Opening stock 60000 purchase 340000 cost of good sold 300000

Answer 1

Answer:

1.

opening stock ac dr. 60k

to cash ac 60k

2.

puchase ac dr. 340k

to cash ac 340k

3.

sales ac dr 300k

to cash ac 300k

Answer 2

Closing Stock

Explanation:

Given:

Opening stock = 60,000

Purchase = 3,40,000

Cost of good sold = 3,00,000

Closing Stock during the year = ?

Computation of closing stock:

Closing Stock = Opening Stock + Purchase - Cost of goods sold

Closing Stock = 60,000 + 3,40,000 - 3,00,000

Closing Stock = 4,00,000 - 3,00,000

Closing Stock = 1,00,000

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