All the sales made by a retailer are for cash, and her sale prices are fxed by doubling cost. Details recorded of her transactions forSeptember 2015 are as follows:32)1 Sept.30 Sept.Inventories40,000Purchases for month60,00095,00050,000Cash banked for sales for monthInventoriesWhich two of the following conclusions could separately be drawn from this information? 1. $5,000 cash has been stolen from thesales revenue prior to banking 2. Goods costing $5,000 have been stolen 3. Goods costing $2,500 have been stolen 4. Somegoods costing $2,500 had been sold at cost priceА.2 and 4В.1 and 3С.1 and 2D.3 and 4

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Description: All the sales made by a retailer are for cash, and her sale prices are fxed by doubling cost. Details recorded of her transactions forSeptember 2015 are as follows:32)1 Sept.30 Sept.Inventories40,000Purchases for month60,00095,00050,000Cash banked f

There can be any reason . But here option b is correct

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All the sales made by a retailer are for cash, and her sale prices are fued by doubling cost Details recorded of her transactions fo September 2015 are as follows: 32) 1 Sept. 30 Sept. Inventories 40,000 Purchases for month 60,000 Cash banked for sales for month 95,000 Inventories 50,000 Which two of the following conclusions could separately be drawn from this information? 1. $5,000 cash has been stolen from the sales revenue prior to banking 2. Goods costing $5,000 have been stolen 3 Goods costing $2,500 have been stolen 4. Some goods costing $2,500 had been sold at cost price A. 2 and 4 B. 1 and 3

All the sales made by a retailer are for cash, and her sale prices are fued by doubling cost Details recorded of her transactions fo September 2015 are as follows: 32) 1 Sept. 30 Sept. Inventories 40,000 Purchases for month 60,000 Cash banked for sales for month 95,000 Inventories 50,000 Which two of the following conclusions could separately be drawn from this information? 1. $5,000 cash has been stolen from the sales revenue prior to banking 2. Goods costing $5,000 have been stolen 3 Goods costing $2,500 have been stolen 4. Some goods costing $2,500 had been sold at cost price A. 2 and 4 B. 1 and 3

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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