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Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –
1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.
2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.
3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.
You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.
 
Q.Value of stock on 30th June = ________.
  • a)
    4,80,000
  • b)
    5,44,000
  • c)
    4,36,000
  • d)
    4,46,400
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Physical verification of stock was done on 23rd june. the value of sto...
Calculation of value of stock on 30th June:

1. Adjust physical stock on 23rd June: Rs 4,80,000
2. Add purchases made: Rs 40,000
3. Subtract goods delivered on 5th July: Rs 16,000
4. Adjust for goods sent on consignment: Rs 24,000 (unsold)
5. Adjust for goods sent on approval: Rs 16,000 (returned) + Rs 16,000 (remaining)
6. Adjust for goods sold at cost plus 25%: Rs 1,36,000 + 25% = Rs 1,70,000
- Rs 24,000 (sold at loss)
= Rs 1,46,000
- Rs 32,000 (sent on approval and returned)
= Rs 1,14,000

Calculation:

1. Physical stock on 23rd June = Rs 4,80,000
2. Add purchases made = Rs 40,000
3. Subtract goods delivered on 5th July = Rs 16,000
Value of stock as on 30th June before other adjustments = Rs 5,04,000
4. Adjust for goods sent on consignment = Rs 24,000 (unsold)
Value of stock as on 30th June after adjustment for consignment goods = Rs 4,80,000
5. Adjust for goods sent on approval = Rs 16,000 (returned) + Rs 16,000 (remaining)
Value of stock as on 30th June after adjustment for approval goods = Rs 4,48,000
6. Adjust for goods sold at cost plus 25% = Rs 1,14,000
- Rs 24,000 (sold at loss)
= Rs 90,000
Value of stock as on 30th June after adjustment for sales = Rs 4,46,400

Therefore, the value of stock on 30th June is Rs 4,46,400.
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Physical verification of stock was done on 23rd june. the value of sto...
Is qstion ko solve krne se pehle aapne pehle wale qstion ko solve kiya hoga jisme normal goods 73600 ka aata hai and return goods hai 12800 and closing stock hai 23 june ko 480000 jisme se 73600& 12800 ko less kijiye and transit 16000 add & customer 12800 add & consignee ko 24000 add kijiye to aapka closing stock aa jayega 30 th june ko 446400 WORKING NOTES OF GOOD RETURN.......= APPROVAL HAI 32000 × 100 ÷125= AAYEGA 25600 JISME SE HALF GOODS RETURN KRTA HAI 30TH JUNE SE PEHLE 12800 KA AND HALF CUSTOMER KE PASS HI RHTA HIII.....
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Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer?
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Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct 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 Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct 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 Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer?.
Solutions for Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. 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 Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Physical verification of stock was done on 23rd june. the value of stock was rs 4,80,000. following transactions took place between 23rd june and 30th june –1 . Out of goods sent on consignment, goods costing Rs 24,000 were unsold.2 . Purchases of Rs 40,000 were made, out of which goods worth Rs 16,000 were delivered on 5th July.3 . Sales were Rs 1,36,000, which include goods worth Rs 32,000 sent on approval. Half of these goods were returned before 30th June, but no intimation is available regarding the remaining goods. Goods are sold at cost plus 25%. However, goods costing Rs24,000 had been sold for Rs12,000.You want to determine the value of stock on 30th June. You start with physical stock on 23rd June.Q.Value of stock on 30th June = ________.a)4,80,000b)5,44,000c)4,36,000d)4,46,400Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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