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Insurance claim

Accountancy

In this I am getting closing stock in negative can some one tell how to solve

Screenshot_20220316-101001_WPS Office.jpg

Pandusml V

CA Final

★ 4K+

16-Mar-22 10:14

553

Answers (7)

Ignore the scribbling, hope u can understand

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Mala Ca

CA Final

★ 23K+

16-Mar-22 15:42

He gave increase in sale by 20 % why didn't u considered and how u got 27000

Thread Starter

Pandusml V

CA Final

★ 4K+

16-Mar-22 18:32

Thread Starter

Pandusml V

He gave increase in sale by 20 % why didn't u considered and how u got 27000

It's actually 20% increase in SP n not sales

Mala Ca

CA Final

★ 23K+

16-Mar-22 19:10

81,000 goods sent on approval (selling price)half of it didn't get approval right...so 40500 should be recorded separately at cost so 40500(remove profit margin by 1/3)

Mala Ca

CA Final

★ 23K+

16-Mar-22 19:15

Mala Ca

It's actually 20% increase in SP n not sales

So u r using it to find the new GPR (workings written in a corner in box) sales figures r alrdy given n adjusted

Mala Ca

CA Final

★ 23K+

16-Mar-22 19:17

Mala Ca

81,000 goods sent on approval (selling price)half of it didn't get approval right...so 40500 should be recorded separately at cost so 40500(remove profit margin by 1/3)

You will get 27000,hope u got it now

Mala Ca

CA Final

★ 23K+

16-Mar-22 19:17

Thread Starter

Pandusml V

CA Final

★ 4K+

16-Mar-22 22:29