Related Questions

Assertion (A): In preparing final accounts, if closing stock is given in the trial balance, it is shown only in the Balance Sheet.
Reason (R): Any item appearing in the trial balance is treated only at one place i.e. either in the trading and profit & loss a/c or in the balance sheet.
Now, select the correct answer:
Consider an enclosure formed by three surfaces having the following values of shape factors, emissivities and temperatures Surface 1 i.e. curved cylindrical has an emissivity 0.75 and temperature 800 K Surface 2 i.e. closing disc has an emissivity 0.8 and temperature 700 K Surface 3 i.e. closing disc has an emissivity 0.8 and temperature 700 K The closing flat discs are 25 mm in diameter and they have interspacing distance equal to 100 mm. If the shape factor between these two identical discs is 0.05, calculate the net rate of radiant heat flow from the curve surface to each of the closing end surface
If closing stock is shown in Trial Balance, then it should be shown in
If the average stock of a firm is Rs. 40,000 and its opening stock is Rs. 5,000 less than the closing stock, what would be the value of Opening Stock?
Given:
Stock turnover 6 times
Total Sales Rs. 3,00,000
Gross profit Ratio 20%
Closing stock is Rs. 4,000 more than the opening stock. The opening stock will be:
Stock appearing in the Trial Balance is shown in
Wages Outstanding' is appearing in the Trial Balance of a company. While preparing the Income Statement and Balance Sheet, 'Wages Outstanding' should appear in-
Rashna Company collected the following data in its accounting records in 2014 : From the income statement : Depreciation expense Tk. 1,000 Loss on sale of equipment 3,000 From the comparative balance sheet : Beginning balance , equipment Tk. 12,500 Ending balance , equipment 8,000 Beginning balance , accumulated depreciation 2,000 Ending balance , accumulated depreciation 2,400 No new equipment was purchased during the year. The equipment was sold at the end of the year. What was the cash in -flow from the sale of equipment in 2014?
When closing stock is included in the trial balance. It is to be recorded only in?
Given:
Sals - Rs. 2,00,000
Gross Profit - 25% of cost
Stock velocity - 3 months
Closing stock is Rs. 2,000 more than the opening stock.