Calculate closing stock and cost of goods sold : Opening stock ₹ 5000; sales ₹ 16000; carriage inwards ₹ 1000; sales return ₹ 1000;. Gross profit ₹ 6000; purchase ₹ 10,000; purchase return ₹ 900.

Small scale maps show a larger geographic area and less detailed and large-scale maps show a smaller geographic area with greater detail. The 1:24,000 scale is fairly large. The 1:50,000 scale goes as an intermediate. 1:125,000 is the size of...

The difference between substitute and complimentary is:A substitute is something used instead of a particular good or service, eg. for dinner , if you decide to eat beef instead of...

A private good is both rival and excludable this means that consumption is rival and consumers can be excluded. For instance a can of pineapples is a private good while...

X and Y are substitute goods because a decrease in price of X means that consumers will demand more of X .Demand for good Y will decrease because consumers will...

The stock turnover is calculated asStock turnover=(Cost of sales)/(Average stock held)=(570,000)/(124,250)=4.59 times

.Net investment < gross investment

Substitutes 

In contrast to pure public goods, merit goods could be, and indeed are, provided through the market, but not necessarily in sufficient quantities to maximise social welfare.Examples of merit goods...

Cost of goods sold=XNet sales= Cost of goods sold + Gross Profit.Thus, Gross Profit= 20/100(X)₹ 9,000,000= X + 20/100X₹ 9,000,000=6/5XX=₹ 9,000,000(5/6)X=₹ 7,500,000Thus; Cost of goods sold = ₹ 7,500,000Gross Profit=...

Under the accrual method, an advance received or paid is not revenue or expense. In the cash method, an advance is an income or expense. Accordingly, in the accrual method,...