Computation of taxable income and loss of C/F
5. The following information is given by Balan, a merchant, for the year ended 31-12-2016. Rs. Rs. Sales: Dept I 70,000 Purchases: Dept. I 43,000 Dept…. II 30,000 Dept. II 25,000 Stock (1-1-96) Dept. I 3,400 Salary 5,400 Dept. II 1,100 Commission 2,200 Debtors 23,000 Advertisem*nt 5,800 Office furniture 1,080 Bank charges 120 Rent 1,800 Stationery 2,700 Insurance 2,400 Wages 10,000 Provide depreciation at 10% on furniture. Bad debts Rs. 300. noCreate 10% provision for discount on debtors. Stock position on 31-12-2016: Dept. I Rs. 4,000 and Dept. II Rs. 1,680. From the above information, prepare the departmental trading and profit & loss account. Expenses are allocated on the basis of sales. [Madras, B.Com., Oct. 1997] [Ans: Gross profit: Dept I Rs. 20,600; Dept II Rs. 2,580; Net profit: Dept.I Rs. 4,431.40; Dept. II Net loss Rs. 4,349.40]
What is Auditing Assurance Standards? What is its importance? Explain the role of Auditing Assurance Standards Board India
He said 'my parents were fighter of freedom
what is the coefficient of the variable in 2n-3=7
