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Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100 each at an invoice price of Rs. 120 each. Goods send out on consignment to be credited in general trading will be:
- a)Rs. 1,00,000
- b)Rs. 1,20,000
- c)Rs. 20,000
- d)None
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100...
**Explanation:**
To understand the answer to this question, we need to calculate the total value of the goods sent out by Rahim to Ram.
Given information:
- Number of boxes sent out: 1,000
- Cost of each box: Rs. 100
- Invoice price of each box: Rs. 120
**Calculating the invoice value:**
The invoice price is the price at which goods are sold to the customer. In this case, Ram is the customer and the invoice price is Rs. 120 per box.
Invoice value per box = Number of boxes * Invoice price per box
Invoice value per box = 1,000 * Rs. 120
Invoice value per box = Rs. 1,20,000
**Calculating the cost value:**
The cost value is the price at which goods are purchased or manufactured. In this case, Rahim is the seller and the cost of each box is Rs. 100.
Cost value per box = Number of boxes * Cost of each box
Cost value per box = 1,000 * Rs. 100
Cost value per box = Rs. 1,00,000
Therefore, the total value of the goods sent out is Rs. 1,00,000.
**Conclusion:**
The correct answer is option 'A' - Rs. 1,00,000. This is the total value of the goods sent out by Rahim to Ram on consignment.
To understand the answer to this question, we need to calculate the total value of the goods sent out by Rahim to Ram.
Given information:
- Number of boxes sent out: 1,000
- Cost of each box: Rs. 100
- Invoice price of each box: Rs. 120
**Calculating the invoice value:**
The invoice price is the price at which goods are sold to the customer. In this case, Ram is the customer and the invoice price is Rs. 120 per box.
Invoice value per box = Number of boxes * Invoice price per box
Invoice value per box = 1,000 * Rs. 120
Invoice value per box = Rs. 1,20,000
**Calculating the cost value:**
The cost value is the price at which goods are purchased or manufactured. In this case, Rahim is the seller and the cost of each box is Rs. 100.
Cost value per box = Number of boxes * Cost of each box
Cost value per box = 1,000 * Rs. 100
Cost value per box = Rs. 1,00,000
Therefore, the total value of the goods sent out is Rs. 1,00,000.
**Conclusion:**
The correct answer is option 'A' - Rs. 1,00,000. This is the total value of the goods sent out by Rahim to Ram on consignment.
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Community Answer
Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100...
A) ₹1,00,000ASs per AS-2 inventories should be valued at cost price or net realisable value whichever is less.
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Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100 each at an invoice price of Rs. 120 each. Goods send out on consignment to be credited in general trading will be:a)Rs. 1,00,000b)Rs. 1,20,000c)Rs. 20,000d)NoneCorrect answer is option 'A'. Can you explain this answer?
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Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100 each at an invoice price of Rs. 120 each. Goods send out on consignment to be credited in general trading will be:a)Rs. 1,00,000b)Rs. 1,20,000c)Rs. 20,000d)NoneCorrect answer is option 'A'. 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 Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100 each at an invoice price of Rs. 120 each. Goods send out on consignment to be credited in general trading will be:a)Rs. 1,00,000b)Rs. 1,20,000c)Rs. 20,000d)NoneCorrect answer is option 'A'. 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 Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing Rs. 100 each at an invoice price of Rs. 120 each. Goods send out on consignment to be credited in general trading will be:a)Rs. 1,00,000b)Rs. 1,20,000c)Rs. 20,000d)NoneCorrect answer is option 'A'. Can you explain this answer?.
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