Question
Version:0.9 StartHTML:0000000105 EndHTML:0000003561 StartFragment:0000000141 EndFragment:0000003521 Ascertain the amount of correct revenue realised for the year ending 31 st March 2017 in each of the following
Version:0.9 StartHTML:0000000105 EndHTML:0000003561 StartFragment:0000000141 EndFragment:0000003521
Ascertain the amount of correct revenue realised for
the year ending 31 st March 2017 in each of the
following cases :
(i) An order to supply goods for Rs. 12 lacs is
received in Jan 2017. The goods have been
supplied only for Rs. 10.50 lacs in Feb. 2017.
(ii) What will be the revenue in (i) above, if the
payment of Rs. 10 lac is received in cash in
Feb-2017 and the balance payment of Rs. 50000
is received in Jun 2017,
P.T.O.
(870)2
ACCT602
(iii) What will be the revenue in (i) above, if the
goods have been sold on credit and the payment
of Rs. 10.50 lacs is received in Jun 2017 while
all the goods of Rs, 12 lacs were supplied in
Feb. 2017.
(iv) What will be the revenue in (i) above, if an
advance payment of Rs. 50000 is received in
Jan 2017 and the balance in Jun 2017
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