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Goods consigned were Rs.50,000. During transit 1/10 of the goods were destroyed in fire. Again one ninth of the goods received by consignee was destroyed by fire in godown. Half of the original goods were sold for Rs.30,000.Freight and insurance paid by consignor is 2000 and 1500 respectively.Calculate closing stock?
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Goods consigned were Rs.50,000. During transit 1/10 of the goods were ...
Calculation of Closing Stock:

Given data:
- Consignment value: Rs.50,000
- Goods destroyed in transit: 1/10 of the consignment
- Goods destroyed in godown: 1/9 of the goods received
- Goods sold: Half of the original goods for Rs.30,000
- Freight paid by consignor: Rs.2000
- Insurance paid by consignor: Rs.1500

Step 1: Calculation of Goods Destroyed in Transit:
- Goods destroyed in transit = (1/10) * Consignment value
- Goods destroyed in transit = (1/10) * Rs.50,000
- Goods destroyed in transit = Rs.5,000

Step 2: Calculation of Goods Destroyed in Godown:
- Goods destroyed in godown = (1/9) * Goods received by consignee
- Goods received by consignee = Consignment value - Goods destroyed in transit
- Goods received by consignee = Rs.50,000 - Rs.5,000
- Goods received by consignee = Rs.45,000
- Goods destroyed in godown = (1/9) * Rs.45,000
- Goods destroyed in godown = Rs.5,000

Step 3: Calculation of Goods Available for Sale:
- Goods available for sale = Consignment value - Goods destroyed in transit - Goods destroyed in godown
- Goods available for sale = Rs.50,000 - Rs.5,000 - Rs.5,000
- Goods available for sale = Rs.40,000

Step 4: Calculation of Closing Stock:
- Closing stock = Goods available for sale - Goods sold
- Closing stock = Rs.40,000 - Rs.30,000
- Closing stock = Rs.10,000

Therefore, the closing stock is Rs.10,000.
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Goods consigned were Rs.50,000. During transit 1/10 of the goods were destroyed in fire. Again one ninth of the goods received by consignee was destroyed by fire in godown. Half of the original goods were sold for Rs.30,000.Freight and insurance paid by consignor is 2000 and 1500 respectively.Calculate closing stock?
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Goods consigned were Rs.50,000. During transit 1/10 of the goods were destroyed in fire. Again one ninth of the goods received by consignee was destroyed by fire in godown. Half of the original goods were sold for Rs.30,000.Freight and insurance paid by consignor is 2000 and 1500 respectively.Calculate closing stock? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Goods consigned were Rs.50,000. During transit 1/10 of the goods were destroyed in fire. Again one ninth of the goods received by consignee was destroyed by fire in godown. Half of the original goods were sold for Rs.30,000.Freight and insurance paid by consignor is 2000 and 1500 respectively.Calculate closing stock? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods consigned were Rs.50,000. During transit 1/10 of the goods were destroyed in fire. Again one ninth of the goods received by consignee was destroyed by fire in godown. Half of the original goods were sold for Rs.30,000.Freight and insurance paid by consignor is 2000 and 1500 respectively.Calculate closing stock?.
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