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Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.?
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Q.2 Determine the value of stock to be taken to the Balance Sheet of A...
Value of Stock on Balance Sheet

Given Information:
- The stock was physically verified on 24th March and was valued at Rs. 4,00,000.
- There were additional transactions after stock taking.

Calculation:
To determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March, we need to consider the following transactions:

Purchases:
- Purchases made after the stock taking amounted to Rs. 2,00,000.
- However, 20% of these goods were returned.

Sales:
- Sales made after the stock taking amounted to Rs. 2,00,000.
- Out of these sales, 20% of the goods were returned by the customers.

Net Purchases:
To calculate the net purchases, we need to subtract the goods returned from the total purchases.
Net Purchases = Purchases - Goods Returned

Net Sales:
To calculate the net sales, we need to subtract the goods returned by the customers from the total sales.
Net Sales = Sales - Goods Returned by Customers

Calculation of Stock Value:
The value of stock on the Balance Sheet can be calculated using the following formula:
Stock Value = Stock at the beginning + Net Purchases - Net Sales

Calculating Net Purchases:
Net Purchases = Rs. 2,00,000 - (20% of Rs. 2,00,000) = Rs. 2,00,000 - Rs. 40,000 = Rs. 1,60,000

Calculating Net Sales:
Net Sales = Rs. 2,00,000 - (20% of Rs. 2,00,000) = Rs. 2,00,000 - Rs. 40,000 = Rs. 1,60,000

Calculating Stock Value:
Stock Value = Rs. 4,00,000 + Rs. 1,60,000 - Rs. 1,60,000 = Rs. 4,00,000

Therefore, the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March is Rs. 4,00,000.
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Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.?
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Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? 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 Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.?.
Solutions for Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? defined & explained in the simplest way possible. Besides giving the explanation of Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.?, a detailed solution for Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? has been provided alongside types of Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? theory, EduRev gives you an ample number of questions to practice Q.2 Determine the value of stock to be taken to the Balance Sheet of ABC Ltd. as at 31st March from the following information: The stock was physically verified on 24th March and was valued at Rs. 4,00,000. After stock taking, the following transactions had taken place till 31 st March: (a) Purchases Rs. 2,00,000 out of which 20% goods were returned. (b) Sales of Good Units Rs. 2,00,000 out of which 20% goods were returned by the customers.? tests, examples and also practice CA Foundation tests.
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