Question : The Gross Profit Ratio of a Company is 20%. Which of the following transactions will not change in gross profit ratio?
Option 1: Goods costing Rs. 1,50,000 sold for Rs. 2,00,000.
Option 2: Goods costing Rs. 3,40,000 sold for Rs. 4,00,000.
Option 3: Revenue from Operations Rs. 2,00,000.
Option 4: None of the above
Correct Answer: Revenue from Operations Rs. 2,00,000.
Solution : Answer = Revenue from Operations Rs. 2,00,000. Revenue from the operation will increase but the Closing stock will decrease by the same percentage, not by the same amount. As a Result Cost of Revenue from operation will increase by the same percentage as the Revenue from operation increases. Hence, the correct option is 3.
Question : Furniture as on 31st March, 2019—Rs. 4,40,000; Furniture (having book value as on 1st April, 2019—Rs. 40,000) sold at a loss of 20% on 31st December, 2019. Furniture is to be depreciated @ 10% p.a. Furniture costing Rs. 3,00,000 was also purchased on
Question : While purchasing an item costing Rs. 600, Rashi had to pay sales tax at 5%. What amount did Rashi have to pay as sales tax?
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