Advertisements
Advertisements
Question
Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹5,00,000; Purchase of Materials ₹25,00,000; and Closing Inventory of Materials ₹4,00,000.
Solution
Cost of Material Consumed = Opening Inventory of Material + Purchase of Materials - Closing Inventory of Materials
= 500000 + 2500000 - 400000 = 2600000
∴ Cost of Materials Consumed is Rs 2600000
APPEARS IN
RELATED QUESTIONS
Long Answer Question
Explain how financial statements are useful to the various parties who are interested in the affairs of an undertaking?
Under which head following revenue items of a non-financial company will be classified or shown:
(i) Sales;
(ii) Revenue from Services Rendered;
(iii) Sale of Scrap;
(iv) Interest Earned on Loans; and
(v) Gain (profit) on Sale of Investments?
Under which head following revenue items of a financial company will be classified or shown:
(i) Gain (Profit) on Sale of Building;
(ii) Revenue from Project Consultancy Rendered;
(iii) Sale of Scrap;
(iv) Interest earned on Loans; and
(v) Gain (Profit) on sale of Investments?
Under which head following revenue items of non-financial company will be classified or shown:
(i) Gain (Profit) on Sale of Fixed Asset;
(ii) Fee Received for Arranging Loans;
(iii) Interest on Loans Given;
(iv) Gain (Profit) on Sale of Investments and
(v) Sale of Miscellaneous Items?
Securities Premium Reserve is shown under ______.
In a company’s balance sheet Assets are shown in the order of ________.
A company prepares its Balance Sheet as per ________.
Office building under construction will be shown under ________.
As which act companies is revised schedule VI.
The assets held by a business which can be converted in the form of cash, without disturbing the normal operations of a business ______.
The return which the company pays on borrowed funds is termed as ______.
The following is(are) the external source(s) of cash.
Carriage Inward is normally debited to _______.
In Balance Sheet Computer software is shown under the ______.
Preliminary expenses include ______.
Preliminary expenses are shown in the balance sheet.
