Question : Calculate the net purchase from the following information: Revenue from Operations: Cash: Rs.25,000 Credit: Rs.75,000 Purchases: Cash: Rs.15,000 Credit: Rs.60,000 Carriage Inwards: Rs.2,000 Salaries: Rs.25,000 Decrease in Inventory: Rs.10,000 Return Outwards: Rs.2,000.
Option 1: Rs.1,00,000
Option 2: Rs.83,000
Option 3: Rs.73,000
Option 4: Rs.63,000
Correct Answer: Rs.73,000
Solution : Revenue from Operations = Cash Revenue from Operations + Credit Revenue from Operation = Rs.25, 000 + Rs.75, 000 = Rs. 1,00,000 Net Purchases = Cash Purchases + Credit Purchases − Return Outwards = Rs. 15,000 + Rs. 60,000 − Rs. 2,000 = Rs. 73,000 Hence option 3 is the correct answer.
Question : From the following information related to a company Opening inventory of Rs.20,000; Closing inventory of Rs.22,000; Purchases of Rs.80,000;
Wages Rs.9,000; Carriage outwards Rs.2,000; Returns outwards Rs. 1,000; Revenue from
operations Rs.80,000; Carriage
Question : Opening inventory Rs.1,00,000: Closing inventory Rs.1,50,000: Purchase Rs.6,00,000: Carriage Rs.25,000: Wages Rs. 2,00,000. calculate inventory turnover ratio -
Question : From the following details, Closing Inventory Rs. 60,000; Total Revenue from Operations Rs.5,00,000 (including cash revenue from operations Rs. 1,00,000 ); Total purchases Rs.3,00,000 (including credit purchases Rs.60,000). Goods are sold at a profit of 25% on cost.
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