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professor , thanks Below balances are taken from the records of M/s Big Shopping Complex for the year ended 31st March, 2020: Details Department P
professor , thanks
Below balances are taken from the records of M/s Big Shopping Complex for the year ended 31st March, 2020: Details Department P (3) Department Q (3) Opening Stock 1,00,000 80,000 Purchases 13,00,000 18,20,000 Sales 20,00,000 30,00,000 Closing stock of Department P was 32,00,000 including goods transferred from Department Q for 40,000. Closing stock of Department Q was 7 4,00,000 including goods transferred from Department P for 60,000. Opening stock of Department P included goods for 20,000 transferred from Department Q and Opening stock of Department Q included goods for 30,000 transferred from Department P. Assume that above transfer amounts are cost to the transferee departments and the rate of gross profit is uniform from year to year. Total selling expenses incurred were 2,50,000 for both the departments. From the above information, prepare Departmental Trading Account and Profit & Loss Account for the year ended 31st March 2020, after adjusting the unrealized departmental profits, if anyStep by Step Solution
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