REVISIONARY EXERCISE - 7
| Orders, Invoice: |
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1-5-2011 - Capital invested Rs.2,50,000. 2-5-2011 - Purchase Order placed for 500 Mixies for Rs.2,000 each with Sumeet and Co. Godown at Guindy. Due date 1-6-2011. 1-6-2011 - 300 Mixies received from Sumeet & Co. with 30 days credit. 4-7-2011 - Prepare Sales Invoice for sale of 250 Mixies at Rs.2,500 each to Balu Enterprises with 20 days credit. 6-7-2011 - Rs.4,00,000 paid to Sumeet & Co. for the purchases made. |
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Find out the answers: 1. What is the Stock Position available? 2. How much is payable to others? 3. How much is receivable from others? 4. What is the Purchase Order pending balance? |
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ANSWERS: Stock position : 50 mixies Payable to others : Rs.2,00,000 Receivable from others : 6,25,000 Purchase Orderoutstanding : 200 mixies |