CA Foundation Exam  >  CA Foundation Questions  >  An individual invests Rs.2,00,000 for running... Start Learning for Free
An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000 and finds that still he has goods worth Rs. 15,000 in hand. The amount of surplus will be
  • a)
    Rs. 42,000
  • b)
    Rs. 1,62,000
  • c)
    Rs. 47,000
  • d)
    Rs. 27,000.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
An individual invests Rs.2,00,000 for running a stationery business. O...
Calculation of Surplus in Stationery Business

Investment: Rs. 2,00,000
Goods purchased: Rs. 1,15,000
Goods sold: Rs. 1,47,000
Shop rent: Rs. 5,000
Goods in hand: Rs. 15,000

Calculation of Cost of Goods Sold (COGS)

COGS = Opening stock + Purchases - Closing stock
Opening stock = 0 (not given)
Purchases = Rs. 1,15,000
Closing stock = Rs. 15,000

COGS = 0 + 1,15,000 - 15,000
COGS = Rs. 1,00,000

Calculation of Gross Profit

Gross profit = Sales - COGS
Sales = Rs. 1,47,000
COGS = Rs. 1,00,000

Gross profit = 1,47,000 - 1,00,000
Gross profit = Rs. 47,000

Calculation of Net Profit

Net profit = Gross profit - Expenses
Expenses = Shop rent
Shop rent = Rs. 5,000

Net profit = 47,000 - 5,000
Net profit = Rs. 42,000

Therefore, the amount of surplus in the stationery business is Rs. 42,000.
Free Test
Community Answer
An individual invests Rs.2,00,000 for running a stationery business. O...
A
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer?
Question Description
An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct 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 An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct 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 An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer?.
Solutions for An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. 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 An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice An individual invests Rs.2,00,000 for running a stationery business. On 1st Jan., he purchases goods for Rs. 1,15,000 and sells the goods for Rs. 1,47,000 during the month of January. He pays shop rent for the month Rs. 5,000and finds that still he has goods worthRs. 15,000 in hand. The amount of surplus will bea)Rs. 42,000b)Rs. 1,62,000c)Rs. 47,000d)Rs. 27,000.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev