You are given the following particulars of a business having three departments: Additional information: (i) Purchases were

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You are given the following particulars of a business having three departments:Additional information:

(i) Purchases were made at a total cost of ₹92,000.

(ii) The percentage of gross profit on turnover is the same in each case.

(iii) Purchases and sales prices are constant for the last 2 years.

(iv) Selling price per unit: Department A ₹20; Department B ₹25; and Department C ₹30. You are required to prepare Departmental Trading Account.

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Financial Accounting Volume II

ISBN: 9789387886230

4th Edition

Authors: Mohamed Hanif, Amitabha Mukherjee

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Question Posted: Aug 25, 2023 03:19 AM

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You are given the following particulars of a business having three departments: Additional information: (i) Purchases were

Question:

Particulars Department A Department B Department C Purchases 1,500 Units 1,000 Units 2,000 Units Opening Stock 200 Units 300 Units 150 Units Closing Stock 100 Units 160 Units 200 Units

Step by Step Answer:

Department Opening Stock Purchases Closing Stock Selling Price per Unit Sales COGS Gross Profit Department A 300 units 1000 units 1500 units 20 16000 ...View the full answer

Financial Accounting Volume II

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