From the given information Amount in Lakhs cost of goods sold 580 opening stock 40 closing stock 70 creditors at the beg
Posted: Wed Apr 27, 2022 10:37 am
From the given information
Amount in Lakhs
cost of goods sold
580
opening stock
40
closing stock
70
creditors at the beginning of the year
60
creditors at the end of the year
100
cash purchases
45
Original cost of equipment sold
400
Gain on the equipment sold
50
Accumulated depreciation on the equipment
80
Calculate:
a. Total purchases, credit purchases and payment to
creditors
b. Define the term Net book value, Accumulated
depreciation calculate the net book value and cash proceeds from
sale of investment
Amount in Lakhs
cost of goods sold
580
opening stock
40
closing stock
70
creditors at the beginning of the year
60
creditors at the end of the year
100
cash purchases
45
Original cost of equipment sold
400
Gain on the equipment sold
50
Accumulated depreciation on the equipment
80
Calculate:
a. Total purchases, credit purchases and payment to
creditors
b. Define the term Net book value, Accumulated
depreciation calculate the net book value and cash proceeds from
sale of investment