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X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?
- a)Rs. 8,250
- b)Rs. 6,000
- c)Rs. 7,500
- d)Rs. 8,000
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These good...
Value of goods sold by Y - 30000 (33000/110%) Value of such goods for X - 24000 (30000 - 30000*1/5) Therefore, value of closing stock for x in respect of stock lying with Y is Rs. 6,000 (30,000 - 24,000).
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X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These good...
To find the value of the stock lying with Y at the closing of accounts, we need to calculate the cost price of the goods sold by Y and subtract it from the total cost of goods consigned by X.
Let's break down the given information step by step:
1. X consigned goods to Y costing Rs. 30,000 at cost plus 25%.
- Cost of goods consigned by X = Rs. 30,000
- Cost plus 25% = 1.25 * Rs. 30,000 = Rs. 37,500
2. These goods are to be sold at invoice value plus 10%.
- Invoice value = Cost price + 10% of cost price = Rs. 37,500 + (10/100) * Rs. 37,500 = Rs. 41,250
3. Y sold a part of the goods for Rs. 33,000.
- Cost price of goods sold = Rs. 33,000
Now, let's calculate the value of the stock lying with Y:
Cost price of the stock = Total cost of goods consigned by X - Cost price of goods sold by Y
= Rs. 37,500 - Rs. 33,000
= Rs. 4,500
Therefore, the value of the stock lying with Y that will be shown by X at the closing of accounts is Rs. 4,500. However, none of the given options match this result.
Hence, it seems there might be an error in the options provided or the calculation of the answer. Please recheck the options or the given information to determine the correct answer.
Let's break down the given information step by step:
1. X consigned goods to Y costing Rs. 30,000 at cost plus 25%.
- Cost of goods consigned by X = Rs. 30,000
- Cost plus 25% = 1.25 * Rs. 30,000 = Rs. 37,500
2. These goods are to be sold at invoice value plus 10%.
- Invoice value = Cost price + 10% of cost price = Rs. 37,500 + (10/100) * Rs. 37,500 = Rs. 41,250
3. Y sold a part of the goods for Rs. 33,000.
- Cost price of goods sold = Rs. 33,000
Now, let's calculate the value of the stock lying with Y:
Cost price of the stock = Total cost of goods consigned by X - Cost price of goods sold by Y
= Rs. 37,500 - Rs. 33,000
= Rs. 4,500
Therefore, the value of the stock lying with Y that will be shown by X at the closing of accounts is Rs. 4,500. However, none of the given options match this result.
Hence, it seems there might be an error in the options provided or the calculation of the answer. Please recheck the options or the given information to determine the correct answer.
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Community Answer
X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These good...
30000*100/125 = 24000
30000-24000= 6000
30000-24000= 6000
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X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. Can you explain this answer?
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X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. 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 X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. 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 X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. Can you explain this answer?.
X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. 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 X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. 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 X consigned goods to Y costing Rs. 30,000 at cost plus 25%. These goods are to be sold at invoice value plus 10%. Y sold a part of the goods for Rs. 33,000. What will be the value of stock lying with Y that will be shown by X at the closing of accounts?a)Rs. 8,250b)Rs. 6,000c)Rs. 7,500d)Rs. 8,000Correct answer is option 'B'. Can you explain this answer?.
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