Commerce Exam > Commerce Questions > Sold goods RS 12000 to thakur and co.,issued ...
Start Learning for Free
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount?
Most Upvoted Answer
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10...
Thakur's a/c Dr. 12960
To sales a/c cr. 12960
( Being goods sold to Thakur at 20 above cost and 10% T.D. )
To sales a/c cr. 12960
( Being goods sold to Thakur at 20 above cost and 10% T.D. )
Community Answer
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10...
Explanation of the Transaction:
Calculation of Selling Price:
Calculation of Actual Selling Price:
Conclusion:
A transaction occurred where goods worth Rs 12000 were sold to Thakur and Co.
The cost of the goods was marked up by 20% and then a discount of 10% was given to Thakur and Co.
Calculation of Selling Price:
20% markup on cost = (20/100) x Cost = 0.2C
Cost of goods = C
Selling price = C + 0.2C = 1.2C
10% discount on selling price = (10/100) x 1.2C = 0.12C
Final Selling Price = 1.2C - 0.12C = 1.08C
Calculation of Actual Selling Price:
Actual Selling Price = Final Selling Price = Rs 12000
Therefore, 1.08C = 12000
Cost of goods = C = 12000/1.08 = Rs 11111.11
Conclusion:
The goods were sold for Rs 12000 after marking up the cost by 20% and then giving a discount of 10%.
The actual cost of the goods was Rs 11111.11.
Thakur and Co. got a discount of Rs 1200 on the selling price.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount?
Question Description
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount?.
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount?.
Solutions for Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? defined & explained in the simplest way possible. Besides giving the explanation of
Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount?, a detailed solution for Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? has been provided alongside types of Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? theory, EduRev gives you an
ample number of questions to practice Sold goods RS 12000 to thakur and co.,issued at 20% above cost less 10% discount? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup