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 Four Washing Machines are in stock with a dealer



Find out the value of stock for balance sheet as per AS-2

  • a)
    Rs. 88,500

  • b)
    Rs. 87,500

  • c)
    Rs. 92,000

  • d)
    Rs. 84,000

Correct answer is option 'D'. Can you explain this answer?
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Four Washing Machines are in stock with a dealerFind out the value of ...
According to As 2 , stock will be recorded least offer cost and realisable value then
"Model A" stock =13500
" Model B" stock =20000
" Model C" stock = 22500
" Model D" stock = 30000
Add all model amount =84000
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Four Washing Machines are in stock with a dealerFind out the value of ...
To find the value of the stock for the balance sheet as per Accounting Standard-2 (AS-2), we need to value each item of inventory at the lower of cost and net realizable value (NRV). Here's how to apply this:
  • Model A: Cost is 15,000 and NRV is 13,500. We take the lower value, 13,500.
  • Model B: Cost is 20,000 and NRV is 22,000. We take the lower value, 20,000.
  • Model C: Cost is 22,500 and NRV is 20,500. We take the lower value, 20,500.
  • Model D: Cost is 30,000 and NRV is 32,500. We take the lower value, 30,000.
Now, to find the total value of stock for the balance sheet:
  • Total = 13,500 (Model A) + 20,000 (Model B) + 20,500 (Model C) + 30,000 (Model D)
  • Total = 84,000
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Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option 'D'. Can you explain this answer?
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Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option '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 Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option '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 Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option 'D'. Can you explain this answer?.
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