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Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000?
Most Upvoted Answer
Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 O...
**Solution:**
Given:
Cash sales = Rs. 50,000
Credit sales = Rs. 3,50,000
Sales return = Rs. 50,000
Goods sent on approval basis = Rs. 40,000
Approval not yet received = Rs. 50,000
To find the net sales, we need to calculate the total sales and deduct the sales returns and goods sent on approval.
**Calculating Total Sales:**
Total sales = Cash sales + Credit sales
Total sales = Rs. 50,000 + Rs. 3,50,000
Total sales = Rs. 4,00,000
**Deducting Sales Returns:**
Net sales = Total sales - Sales return
Net sales = Rs. 4,00,000 - Rs. 50,000
Net sales = Rs. 3,50,000
**Deducting Goods Sent on Approval:**
Net sales = Net sales - Goods sent on approval
Net sales = Rs. 3,50,000 - Rs. 40,000
Net sales = Rs. 3,10,000
Therefore, the net sales are Rs. 3,10,000.
The correct option is (d) Rs. 300,000.
Given:
Cash sales = Rs. 50,000
Credit sales = Rs. 3,50,000
Sales return = Rs. 50,000
Goods sent on approval basis = Rs. 40,000
Approval not yet received = Rs. 50,000
To find the net sales, we need to calculate the total sales and deduct the sales returns and goods sent on approval.
**Calculating Total Sales:**
Total sales = Cash sales + Credit sales
Total sales = Rs. 50,000 + Rs. 3,50,000
Total sales = Rs. 4,00,000
**Deducting Sales Returns:**
Net sales = Total sales - Sales return
Net sales = Rs. 4,00,000 - Rs. 50,000
Net sales = Rs. 3,50,000
**Deducting Goods Sent on Approval:**
Net sales = Net sales - Goods sent on approval
Net sales = Rs. 3,50,000 - Rs. 40,000
Net sales = Rs. 3,10,000
Therefore, the net sales are Rs. 3,10,000.
The correct option is (d) Rs. 300,000.
Community Answer
Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 O...
320000
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Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000?
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Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000?.
Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000?.
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Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000?, a detailed solution for Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? has been provided alongside types of Cash sales Rs. 50000. Credit sales Rs. 350000 Sales return Rs. 50000 Our of Rs.350000 goods costing Rs. 40000 were sent on approval basis for Rs. 50000 and the approval is not yet received, then the net sales are: (a) Rs. 350000 (b) Rs. 325000 (c) Rs. 320000 (d) Rs. 300000? theory, EduRev gives you an
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