Journalise fol Stores : 1: Purchased goods of Rs. 16,000 from Hot Stores 15 % trade discount and 5 % cash discount in the payment is made within 15 days 8: Half of the goods purchased from Hot Stores, were sold to Cola Stores, at a price, so as to receive 25% profit on its cost price 13 Remaining half of the goods purchased from Hot Stores, were sold to Prakash Stores, at a price, so as to receive 20% profit on its selling price. 20 : Out of the goods sold to Prakash Stores, half the goods were returned by them. 22 Out of the goods sold to Cold Stores, half the goods were returned by them and we have returned the same to Hot stores.

Journalise fol Stores : 1: Purchased goods of Rs. 16,000 from Hot Stores 15 % trade discount and 5 % cash discount in the payment is made within 15 days 8: Half of the goods purchased from Hot Stores, were sold to Cola Stores, at a price, so as to receive 25% profit on its cost price 13 Remaining half of the goods purchased from Hot Stores, were sold to Prakash Stores, at a price, so as to receive 20% profit on its selling price. 20 : Out of the goods sold to Prakash Stores, half the goods were returned by them. 22 Out of the goods sold to Cold Stores, half the goods were returned by them and we have returned the same to Hot stores.

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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