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On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery is
- a)Rs. 55,100
- b)Rs. 55,000
- c)Rs. 54,600
- d)Rs. 55,200
Correct answer is 'D'. Can you explain this answer?
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Most Upvoted Answer
On January 1, 2016 Victory Lt d., purchased a second hand machinery fo...
Calculation of Total Cost of Machinery
The total cost of machinery is calculated as follows:
1. Purchase Price: Rs. 50,000
2. Shipping and Forwarding Charges: Rs. 2,000
3. Import Duty: Rs. 1,000
4. Carriage Inwards: Rs. 1,000
5. Repair Charges: Rs. 500
6. Installation Charges: Rs. 200
7. Brokerage: Rs. 400
8. Iron Pad: Rs. 100
Total Cost of Machinery = Purchase Price + Shipping and Forwarding Charges + Import Duty + Carriage Inwards + Repair Charges + Installation Charges + Brokerage + Iron Pad
= Rs. 50,000 + Rs. 2,000 + Rs. 1,000 + Rs. 1,000 + Rs. 500 + Rs. 200 + Rs. 400 + Rs. 100
= Rs. 55,200
Therefore, the correct answer is option (D) Rs. 55,200.
The total cost of machinery is calculated as follows:
1. Purchase Price: Rs. 50,000
2. Shipping and Forwarding Charges: Rs. 2,000
3. Import Duty: Rs. 1,000
4. Carriage Inwards: Rs. 1,000
5. Repair Charges: Rs. 500
6. Installation Charges: Rs. 200
7. Brokerage: Rs. 400
8. Iron Pad: Rs. 100
Total Cost of Machinery = Purchase Price + Shipping and Forwarding Charges + Import Duty + Carriage Inwards + Repair Charges + Installation Charges + Brokerage + Iron Pad
= Rs. 50,000 + Rs. 2,000 + Rs. 1,000 + Rs. 1,000 + Rs. 500 + Rs. 200 + Rs. 400 + Rs. 100
= Rs. 55,200
Therefore, the correct answer is option (D) Rs. 55,200.
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On January 1, 2016 Victory Lt d., purchased a second hand machinery fo...
The total cost of machinery can be calculated by adding all the expenses related to the purchase and installation of the machinery. Let's break down the costs:
- Cost of second-hand machinery: Rs. 50,000
- Shipping and forwarding charges: Rs. 2,000
- Import duty: Rs. 1,000
- Carriage inwards: Rs. 1,000
- Repair charges: Rs. 500
- Installation charges: Rs. 200
- Brokerage of the middleman: Rs. 400
- Cost of iron pad: Rs. 100
Now, let's add all these expenses to find the total cost of the machinery:
Total cost = 50,000 + 2,000 + 1,000 + 1,000 + 500 + 200 + 400 + 100
Total cost = Rs. 55,200
Total cost of machinery: Rs. 55,200
- Cost of second-hand machinery: Rs. 50,000
- Shipping and forwarding charges: Rs. 2,000
- Import duty: Rs. 1,000
- Carriage inwards: Rs. 1,000
- Repair charges: Rs. 500
- Installation charges: Rs. 200
- Brokerage of the middleman: Rs. 400
- Cost of iron pad: Rs. 100
Now, let's add all these expenses to find the total cost of the machinery:
Total cost = 50,000 + 2,000 + 1,000 + 1,000 + 500 + 200 + 400 + 100
Total cost = Rs. 55,200
Total cost of machinery: Rs. 55,200
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On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer?
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On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? 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 On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer?.
On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? 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 On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer?.
Solutions for On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer?, a detailed solution for On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? has been provided alongside types of On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice On January 1, 2016 Victory Lt d., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges, Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of machinery isa)Rs. 55,100b)Rs. 55,000c)Rs. 54,600d)Rs. 55,200Correct answer is 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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