3. A manufacturer sells his goods to customers in containers. Following information is given in respect of the year 2014-15 : Number Number Purchases during the year Sent out to customers Fully destroyed Sold as scrap ( $1,000) At godown 1-4-2014 Purchases during the year amounted to $ 6,00,000. Hire charge is $ 4 per container. Chargeable price is 80% above cost. Cost price of container is constant over the last 3 years. Prepare Containers Stock Account and Containers Suspense Account. 60,000 With customers on 31-3-2015 (Returnable) 200 Returns from customers 400 With customers on 1-4-2014 (Returnable) 50,000 10,000 4,000 12,000 6,000

3. A manufacturer sells his goods to customers in containers. Following information is given in respect of the year 2014-15 : Number Number Purchases during the year Sent out to customers Fully destroyed Sold as scrap ( $1,000) At godown 1-4-2014 Purchases during the year amounted to $ 6,00,000. Hire charge is $ 4 per container. Chargeable price is 80% above cost. Cost price of container is constant over the last 3 years. Prepare Containers Stock Account and Containers Suspense Account. 60,000 With customers on 31-3-2015 (Returnable) 200 Returns from customers 400 With customers on 1-4-2014 (Returnable) 50,000 10,000 4,000 12,000 6,000

Name: 3. A manufacturer sells his goods to customers in containers. Followi
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Description: 3. A manufacturer sells his goods to customers in containers. Following informationis given in respect of the year 2014-15 :NumberNumberPurchases during the yearSent out to customersFully destroyedSold as scrap ( $1,000)At godown 1-4-2014Purchases d

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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