Practice Test

Questions
Consider the following information pretaining to credit purchase made by K Ltd.,a dealer in electronic goods for the month of March 2005: Date :-March 01 , Particulars :- Black & White TV's , No.of units - 50 , Rate per unit :- 3,000 , Trade Discount ;-10% , Date :-March 01, Particulars :-colour TV's :- No.of units -: 10 , Rate per unit :- 6,000 , Trade Discount ;-10% , Date :-March 09, Particulars :- Tape Recorders No.of units -: 10 , Rate per unit :- 1,000 , Trade Discount ;-10%, Date :-March 09, Particulars :- Two-in-one , No.of units -: 10 , Rate per unit :- 1,500 , Trade Discount ;-10% ,Date :-March 19, Particulars :- Audio cassettes , No.of units -: 100 , Rate per unit :- 30 , Trade Discount ;- 5% . On March 22 , 2005 , the company purchased from LM Stationers on credit for office use 10 dozens of carbon papers at the rate of Rs.35 per dozen and 10 dozen of ball pens at the rate of Rs.25 per dozen. At the time of making payment on March 31,2005 ,the suppliers have allowed a cash discount of 10%on the above purchases. The total of purchases for the month of march 2005,was

A Rs.2,14,350

B Rs.2,38,000

C Rs.1,92,915

D Rs.2,38,600

Solutions

Correct Option :- A

Unlock Explanation.

Want FREE unlitimited access to questions & explanations?

Start Now!

Video Lectures, Notes, Error correction tests.
Boost Exam Performance
Get Personal Score Analysis

SIMILAR QUESTIONS

The following details supplied to Cas Ltd in respect of its raw material for the month of December 2007 , Date :-01-12-2007 , Particulars :Receipts (units ) :- 2,000 opening, Rate :- Rs.10 ,Issues units) ;- 0 : Date :-07-12-2007 , Particulars :Receipts (units ) :- 1,000, Rate :- Rs.12 ,Issues :- nil ; Date :-10-12-2007 , Particulars :Receipts (units ) :- 0, Rate :- Rs.0 ,Issues (units ) ;-2,500 ; Date :-15-12-2007 , Particulars :Receipts (units ) :- 2,000, Rate :- Rs.13 ,Issues :- nil ; Date :-31-12-2007 , Particulars :Receipts (units ) :- 0, Rate :- Rs.0,Issues :- 2,200 ; ,On 31.12.2007 , a shortage of 100 units was found. using the data given in the problem , the value of closing stock in the month of December 2007 using simple average principle
View solution

Bharat Indian Oil is a bulk distributor of petrol .A periodic inventory of petrol on hand is taken when the books are closed at the end of each month .the following summary of information is available for the month : sales Rs.9,45,000 ; General administration cost Rs.25,000 ; Opening Stock : 1,00,000 litres @ Rs.3 per liter Rs.3,00,000 . ;Purchases (including freight inward) ;June 1- 2,00,000 litres @ Rs.2.85 per litre ; June 30 -1,00,000 litres @ Rs.3.03 per litre ;June 30- Closing stock 1,30,000 litres . The profit & loss on June 30 using FIFO method of inventory costing is
View solution

The following details supplied to Cas Ltd in respect of its raw material for the month of December 2007 , Date :-01-12-2007 , Particulars :Receipts (units ) :- 2,000 opening, Rate :- Rs.10 ,Issues units) ;- 0 : Date :-07-12-2007 , Particulars :Receipts (units ) :- 1,000, Rate :- Rs.12 ,Issues :- nil ; Date :-10-12-2007 , Particulars :Receipts (units ) :- 0, Rate :- Rs.0 ,Issues (units ) ;-2,500 ; Date :-15-12-2007 , Particulars :Receipts (units ) :- 2,000, Rate :- Rs.13 ,Issues :- nil ; Date :-31-12-2007 , Particulars :Receipts (units ) :- 0, Rate :- Rs.0,Issues :- 2,200 ; ,On 31.12.2007 , a shortage of 100 units was found. using the data given in the problem , the value of issue in the month of December 2007 using simple average principle
View solution

PRACTICE OTHER SUBJECTS ALSO

Maths
Law
Economics
Accounts

Refer A Friend To Unlock

Login

Practice Test

Solutions

Media

Awards And Recognition

Prexam

Products

We Accept

How To Buy?

Available On Android