CA Foundation Exam > CA Foundation Questions > X consigned goods to Y costing Rs. 30,000 at ...
Start Learning for Free
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?
| FREE This question is part of | Download PDF Attempt this Test |
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).
View all questions of this test
Most Upvoted Answer
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.
Free Test
FREE
| Start Free Test |
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
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
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?
Question Description
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?.
Solutions 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? 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 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? defined & explained in the simplest way possible. Besides giving the explanation of
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?, a detailed solution 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? has been provided alongside types of 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? theory, EduRev gives you an
ample number of questions to practice 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? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup