Question :
|
Particulars |
|
|
Opening Stock of Medicines |
Rs. 1,00,000 |
|
Closing Stock of Medicines |
Rs. 50,000 more than Opening Stock |
|
Amount paid for medicines during the year |
Rs. 2,00,000 |
|
Opening Creditors |
Rs. 20,000 |
|
Closing Creditors |
50% of Opening Creditors |
Amount of medicines consumed will be ------
Option 1: Rs. 1,40,000
Option 2: Rs. 1,60,000
Option 3: Rs. 2,00,000
Option 4: None of the above
Correct Answer: Rs. 1,60,000
Solution :
Creditors for Medicines A/C
| To.Cash | 2,00,000 | By Bal.B/D | 20000 |
| To Bal.C/D | 30,000 | Purchases (B/t) | 2,10,000 |
| 2,30,000 | 2,30,000 |
Medicines A/C
| To Bal.B/D | 1,00,000 | Income and Exp (B/f) | 1,60,000 |
| To Creditor | 2,10,000 | ||
| ---- | Bal . C/D | 1,50,000 | |
| 3,10,000 | 3,10,000 |
The answer is
Rs 1,60,000.
Hence, the correct option is 2.
Related Questions
Question : Calculate change in stock.
| Particulars | Rs. in crore |
| Closing stock | 5426 |
| Opening stock | 3456 |
Option 1: 1970
Option 2: 3456
Option 3: 5426
Option 4: 8882
Question : From the following information, :
| Particulars | Closing Balance (Rs) | Opening Balance (Rs) |
| Machinery (at cost) | 4,20,000 | 4,00,000 |
| Accumulated depreciation | 1,10,000 | 1,00,000 |
| Patents | 1,60,000 | 2,80,000 |
Additional Information:
1. During the year, a machine costing Rs 40,000 with an accumulated depreciation of Rs 24,000 was sold for Rs 20,000.
2. Patents written off were Rs 40,000 and some patents were sold at a profit of Rs 20,000.
Question:
Value of patents sold ____________.
Option 1: Rs 40,000
Option 2: Rs 60,000
Option 3: Rs 1,00,000
Option 4: None of the above.
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