Many insureds purchase a policy without understanding what is covered, the ... $50,000, etc.). The Insuring Agreement. This is a summary of the major ...It has become common these days to purchase high-end electronic gadgets, furniture and household appliances (such as fridge, TV, washing machine etc.) using installment loans. Manufacturers and sellers lure buyers with low EMI payments and buyers fall into the trap without understanding the interest rate for such loans. Given the loan …Purchases Account Dr. Cr. Date Particulars J.F. Amount Date Particulars J.F. Amount Rs. Rs. 2009 Rohan 50,000 Cash 12,000 62,000 The trial balance under the three methods is illustrated below: (i) Trial Balance as at March 31, 2009 (Using Totals Method) Account L.F. Debit Credit Title Total Total Rs. Rs. Rawat 60,000 Rohan 40,000 60,000 ...Administrative expenses: Freight in 500,000. Officers’ salaries P 500,000 Income tax 250,000. Depreciation-office equipment 300,000 Loss on sale of equipment 50,000. f Purchase discounts P 100,000 Dividend revenue P 150,000. Loss on sale of investment 50,000. Required: prepare an income statement for the year using the (1) functional and (2 ...Cost Per Mile. 2,000 - 150,000 Miles. 3.7625 Cents. In terms of limits, you can purchase as little as 2,000 AAdvantage Miles and as many as 150,000 AAdvantage Miles in a single transaction. Buying the minimum of 2,000 AAdvantage Miles will cost you $64.50 and buying the maximium of 150,000 AAdvantage Miles will cost you $4,837.50.Finance. Finance questions and answers. Suppose Stanley's Office Supply purchases 50,000 boxes of pens every year. Ordering costs are $57.8 per order and carrying costs are $0.50 per box. The vendor now offers a quantity discount of $0.02 per box if the company buys pens in order sizes of 10,000 boxes. Determine the before-tax benefit or loss ...2. A company purchased assets of the value of Rs.1,90,000 from another company and agreed to make the payment of purchase consideration by issuing 2,000,10% debentures of Rs.100 each at a discount of 5%. Record necessary journal entries. 3. Rose Bond Limited purchased a business for Rs. 22,00,000.Add : Opening value of W-I-P Less : Closing value of W-I-P 5,11,160 50,000 (24,000) Works / Factory Cost 5,37,160 Less : Realisable value on sale of scrap (5,000) Cost of Production Add : Opening stock of finished goods ... The joint cost of purchasing the crude vegetable oil and processing it were ` 40,000. Other details are as follows : Product Further …(i) D. Mahapatra commenced business with cash ₹ 50,000 and ₹ 1,00,000 by cheque; goods ₹ 60,000; machinery ₹ 1,00,000 and furniture ₹ 50,000. (ii) 1/3rd of above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Depreciation on machinery provided @ 10%. (iv) Cash withdrawn for personal use ...P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011.A share purchase right is an instrument that entitles the holder to purchase a specified number of shares at a specified price. A share purchase right is an instrument that entitles the holder to purchase a specified number of shares at a s...HP Ryzen 5 Hexa Core 5500U - (8 GB/512 GB SSD/Windows 11 Home) 14s-fq1092au Thin and Light Laptop. Rs 49490. HP Pavilion Ryzen 5 Hexa Core 5625U - (8 GB/512 GB SSD/Windows 11 Home) 14-EC1003AU Thin and Light Laptop. Rs 54990. HP Core i3 11th Gen - (8 GB/512 GB SSD/Windows 10 Home) 14s-dq2606tu Thin and Light Laptop.4. Operating profit earned by M/s Arora & Sachdeva in 2016-17 was ₹ 17,00,000. Its non-operating incomes were ₹ 1,50,000 and non-operating expenses were ₹ 3,75,000. Calculate the amount of net profit earned by the firm.So average inventory is 1,50,000 (1,25,000 + 1,75,00/2) Example of inventory turnover ratio. Now that we have understood the inventory turnover ratio formula, let’s calculate it by considering an example. Cost of goods sold. 4,50,000. Inventory at the beginning. 1,25,000. Inventory at the end. 1,75,000. To calculate the inventory …(iv) Bank term loan interest actually paid up to 31.03 was Rs. 20,000 and the balance was paid in November 2021. (v) Housing loan principal repaid during the year was Rs. 50,000 and it relates to residential property acquired by him in P. 2019-20 for self-occupation. Interest on housing loan was Rs. 23,000.The vendor now offers a quantity discount of $0.02 per box if the company buys pens in. Suppose Stanley's Office Supply purchases 50,000 boxes of pens every year. Ordering costs are $100 per order and carrying costs are $0.40 per box. Moreover, management has determined that the EOQ is 5,000 boxes. Note: The ordering costs and EOQ differ from ...P purchases a $50,000 term life insurance policy in 2005. One of the questions on the application ask if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011.Sep 29, 2021 · Purchases ₹1,70,000 Creditors ₹50,000 Debtors ₹1,00,000 Building ₹2,50,000 Opening Stock ₹50,000 Cash at Bank ₹50,000 Commission Paid ₹11,000 Rent received ₹15,000 Drawings ₹4,000 Answer: Total of Trial Balance₹6,35,000. Question 7. From the following balances extracted from the books of Mr. K.K, prepare Trial Balance as on ... Cash 53, Sales discount [(100,800 – 50,000) x 2%] 1, Accounts Receivable (100,800 – 50,000 + 4k) 54, To record the collection of A/R within the discount period. *Note that there is no discount pertaining to the freight prepaid by the seller. The sales discount is only based on the net sales (sales less sales returns) prior to collection. ... we just add the beginning …(2) "Component purchases" means purchases of the component parts of an item that in normal purchasing practices would be purchased in one purchase. (3) "Current funds" means funds in the county treasury that are available in the current tax year, revenue that may be anticipated with reasonable certainty to come into the county treasury during ...Purchases 1,900, Cash (50,000 x P38) 1,900, Futures contract payable 600, Cash 600, Loss on futures contract 600, Unrealized loss – futures contract 600, Futures price Market price Type of contract Quantity 1/1/2010 12/31/ Purchase sugar 20,000 60 75 Purchase milk 50,000 100 91 Sell ice cream 30,000 220 195.(vi) Goodwill is to be valued at 2 years' purchase of last 3 years profits. Profits being for 2018-19 − ₹ 50,000 (Loss); 2017-18 − ₹ 2,50,000 and 2016-17 − ₹ 2,50,000. (vii) C was to carry out the work for reconstituting the firm at a remuneration (including expenses) of …1. The statement of retained earnings for 2019 showed net income of P1,500,000 and. cash dividend paid of P300,000. 2. During the year, the entity purchased equipment for cash and issued share capital. for cash. Required: Prepare a statement of cash flows for the current year using the indirect method. f Answer: A trading account’s assets are segregated from those held in a long-term buy-and-hold strategy. The profit and loss statement, abbreviated as P&L, is a financial statement that summarises revenues, expenditures, and expenses incurred during a specific time period, generally a fiscal year.A balance sheet needs to be prepared due to following reasons: 1. To show the financial position of a business. 2. To show much assets and liabilities a business has. 3. It serves as an information source for internal and external users. 4. It acts as a reference for balances that need to be carried forward. What will the insurer pay to P’s beneficiary? $50,000 minus any outstanding policy loans. Which of these statements about a Guaranteed Insurability Option rider is …Intermediate Accounting Inventories - Please show the complete solution on items 8, 9, 10. Image transcription text. Pugo uses the retail inventory method. The following information is available for. the current year: Cost Retail Beginning inventory P 1,300,000 P 2,600,000. Purchases 18,000,000 29,200,000 Freight in 400,000 Purchase r...P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "no". The policy is …If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of 10 year term coverage on X under the same policy, the applicant should purchase: ... P is looking to purchase a life insurance policy that will pay a stated monthly income to his beneficiaries for 20 years after he dies and a lump sum of $20,000 at the end of that …(50,000). Administrative expenses (36,000 + (25,000 x 6/12) + (5,000/5 years ... Intra-group purchases. (20,000). Additional depreciation of plant (6,000/2 ...4.Feb 20 – Purchased merchandise worth P50, 000. Gave a down payment of P15, 000, issued P20, 000 promissory note and promised to pay the balance within 5 days. DATE Particulars REF DEBIT CREDIT 20-Feb Purchases 50,000 Cash 15,000 Notes payable 20,000 Accounts payable 15,000 purchased merchandise with DP and PN for the balance Feb 21 – Paid delivery fee of the purchased merchandise, P200.Radio star Dave Ramsey recommends purchasing 10-12 times your income in coverage, although your number may differ based on your needs and budget. It would be reasonable to assume that buying a $50,000 term policy would be about half the cost of a $100,000 term life policy. But for people under 60, the difference between a 50k and 100k policy is ...Cost of Goods Sold = Opening Stock + Purchases- Closing Stock Now putting the values in this formula, we get 75,000 = 20,000 + 70,000 - Closing Stock Closing Stock = 90,000- 75,000 = 15,000 Q.5 Prepare Trading Account from the transactions given below: ₹ ₹ Opening Stock 23,000 Purchases Return 2,400 Purchases 29,000 Closing Stock 47,700Non-state entities are allowed to self-certify in order to use micro-purchase procedures up to $50,000 on an annual basis, provided that certain conditions at 2 C.F.R. § 200.320(a)(1)(iv) are met and the non-state entity must maintain documentation available to FEMA and auditors. The self-certification must include a justification, clear ...PURCHASES JOURNAL Comp Purchase Purchases Input tax A/P Cash Purchases Date from Debit Debit Credit Credit 6 BBB 70,000 8,400 78,400 12 DDD 35,000 4,200 39,200 13 XXX 40,000 4,800 44,800 25 FFF 45,000 5,400 50,400 Total 145,000 17,400 123,200 39,200 SALES JOURNAL 162,400 162,400 A/R Cash Sales Sales Output tax Date Sold to Debit Debit Credit ...... purchased and payment history), digital network activity (interactions with ... Starting at $50,000 for ages 18 to 54. Starting at $25,000 for ages 55 to 85.(i) Purchase of Stock-in-Trade Rs 50,000. No Change. Both purchases and closing inventory will increase by Rs 50,000; therefore, cost of revenue from operations will not be affected. So, Gross Profit Ratio will remain same. (ii) Purchase Return Rs 15,000. No Change. Both purchases and closing inventory will decrease by Rs 15,000; therefore ...The government owns more than 650,000 vehicles and purchases about 50,000 annually. Biden's executive order said that light-duty vehicles acquired by the government will be emission-free by 2027.Answer: Depreciation = Purchase Price - Salvage Value Useful Life of the Asset = ₹1,00,000 - ₹ 20,000 10 Years = ₹ 8,000 5. Purchase goods for ₹10,000 and receive trade discount at 10% and cash discount of 5%. Purchases account will be debited by: 1 (a) ₹ 10,000 (b) ₹ 1,000 (c) ₹ 9,000 (d) ₹ 8,550 Answer: ₹ 9,000.4. Operating profit earned by M/s Arora & Sachdeva in 2016-17 was ₹ 17,00,000. Its non-operating incomes were ₹ 1,50,000 and non-operating expenses were ₹ 3,75,000. Calculate the amount of net profit earned by the firm.Enter the email address you signed up with and we'll email you a reset link.Answer: P 425, 2. Pink Company incurred the following costs during the month; direct labor, P120,000; factory overhead, P108 000; and direct materials purchases, P160,000. Inventories show the following cost: Beginning Ending. Finished goods.....Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in ...(iv) M/s. Power Track Ltd. purchased a plant for US $ 50,000 on 3st October, 2017 payable after 6 months. The company entered into a forward contract for 6 months @ Rs.64.25 per Dollar. On 31st October, 2017 the exchange rate was Rs.61.50 per Dollar. The profit or loss on forward contract for the year ended 31stInventory 50,000 Cost of sales Purchases 50,000 Accounts payable 3. Inventory 20,000 Cost of sales 4. ... P 1,411,100 Purchase Register 12/27 RR#545 12/28 547 12/29 ...Opening Stock - `50,000; Closing Stock - `80,000; Material Consumed - `3,90,000 Answer: (i) Inventory turnover ratio (Refer to working note) = Average stock of raw material Cost of stock of raw material consumed = ` 65000 ` 360000,, , = 5.54 times (ii) Average number of days for which the average inventory is held = 5 54 365 365. daysThe average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. ... 50,000 0.4000 50,000 0.4000 20,000 Adjusted Price ...Comparative Balance Sheet of H.P. Ltd. as at March 31, 2018 and March 31, 2019. Particulars. 2018 (₹) 2019 (₹) Absolute Change (₹) PercentageP purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011. What will the insurer pay to P's beneficiary?Cayden Company provided the following information:Inventory, January 1Cost P350,000Retail 650,000Purchases during the yearCost 2,900,000Retail 4,800,000Freight in 230,000Purchase ReturnsCost 100,000Retail 175,000Purchase Discount 210,000Sales 5,000,000Sales Discount 115,000Sales Returns 200,000Markups 150,000Markups cancellation 70,000Markdown 60,000Estimated normal shrinkage 2% of ... Suppose an entity purchases p50000 goods on credit. Doc Preview. 1. Which of the following journal entry is correct for the transactions of goods returned by a customer? a) …50,000 minus any outstanding policy loans P died five years after purchasing a life policy. while investigating the claim, the insurer discovered material misrepresentations made …The payment of cash dividends, Compute the cash flows from operations using the indirect method if Star Corporation had $250,000 in net income, $30,000 in depreciation expense, a decrease of $20,000 in accounts receivable and an increase in bonds payable of $50,000. A. $250,000 B. $300,000 C. $310,000 D. $370,000 and more.Click here👆to get an answer to your question ️ From the following information, calculate the value of goodwill of the firm:(i) At three years purchase of Average Profit.(ii) At three years purchase of Super Profit.(iii) On the basis of capitalisation of Super Profit.(iv) On the basis of capitalisation of Average Profit.Information:(a) Average Capital Employed is Rs. 6,00,000 .(b) Net ...July 1 Inventory 20,000 36. 7 Purchases 30,000 37. 12 Sale 36, 21 Purchases 50,000 47. 22 Sale 38, 29 Purchases 16,000 38. 322. If Stephanie Company uses that periodic average cost method to account for inventory, what is the ending inventory on July 31? Unit Unit cost Total costA 50.000 Mark German banknote issued in 1922 is not particularly valuable as a collectible, and it has no face value as an obsolete form of currency. The period in 1922 saw the rise of inflation and hyperinflation in Germany as it struggled...In other words, the purchase price of a house should equal the total amount of the mortgage loan and the down payment. Often, a down payment for a home is expressed as a percentage of the purchase price. As an example, for a $250,000 home, a down payment of 3.5% is $8,750, while 20% is $50,000.A balance sheet needs to be prepared due to following reasons: 1. To show the financial position of a business. 2. To show much assets and liabilities a business has. 3. It serves as an information source for internal and external users. 4. It acts as a reference for balances that need to be carried forward.Use the following information for the next two ( 2 ) questions: Napier Company provided the following information on selected transactions during 2020: Purchase of land by issuing bonds 250, Proceeds from issuing bonds 500, Purchases of inventory 950, Purchases of treasury shares 150, Loans made to affiliated corporations 350, Dividends paid to ... The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. ... 50,000 50,000 48 9.86 2021-02-17: BITE: Smart ...Beginning inventory P 50, Net purchases 150, Net sales 300, Percentage markup on cost 66%. A fire destroyed Joseph’s October 31 inventory, leaving undamaged inventory with a cost of P3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is. a. P17, b. P77, c. P80, d. P100, SOLUTION: 15. Transcribed Image Text: A company purchased a building worth $500,000 by paying $50,000 in cash and acquiring a bank loan for the remainder. The effect on the accounting equation is: Increase in assets and liabilities by $500,000 Decrease in assets and liabilities by $50,000 Increase in assets and liabilities by $450,000 Decrease in assets ...Opening Stock - `50,000; Closing Stock - `80,000; Material Consumed - `3,90,000 Answer: (i) Inventory turnover ratio (Refer to working note) = Average stock of raw material Cost of stock of raw material consumed = ` 65000 ` 360000,, , = 5.54 times (ii) Average number of days for which the average inventory is held = 5 54 365 365. daysSep 29, 2021 · Purchases ₹1,70,000 Creditors ₹50,000 Debtors ₹1,00,000 Building ₹2,50,000 Opening Stock ₹50,000 Cash at Bank ₹50,000 Commission Paid ₹11,000 Rent received ₹15,000 Drawings ₹4,000 Answer: Total of Trial Balance₹6,35,000. Question 7. From the following balances extracted from the books of Mr. K.K, prepare Trial Balance as on ... Audit of Inventory Problems with Solutions. CHAPTER 5 – Audit of Inventory Exercises - Analysis of Transactions 1. Moneba Company bought merchandise on January 2, 2006 from Lynn Company costing P15,000; terms, less 20%, 20% down payment, balance 2/10, n/30. Two days after, P2,000 worth of merchandise was returned due to wrong specification.C purchases 20% interest in the partnership from A for ₱120,000. How much is the capital balance of A after the admission of C? ... , Payable to A (right of offset) 50,000 50, Total 450,000 450,000 250,000 1,150, Allocation of loss [285K x (40%; 40% & 20%)] (114,000) (114,000) (57,000) (285,000) Amts. received by the partners 336,000 ...The owner can lower the amount of equity by making withdrawals. The withdrawals are considered capital gains, and the owner must pay capital gains tax depending on the amount withdrawn. Another way of lowering owner’s equity is by taking a loan to purchase an asset for the business, which is recorded as a liability on the balance sheet. The new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity $30,000. 7. Selling services for cash. During the month of February, Metro Corporation earned a total of $50,000 in revenue from clients who paid cash. 50,000: 10: Received cash from Rahul: 1,000: 15: Bought goods for cash: 8,000: 22: Bought goods by cheque: 10,000: 25: Paid to Shyam by cash: 20,000: 30: Drew from Bank for office use: 2,000: 31: Rent paid by cheque: ... (Financial Accounting 1) chapter 4 Recording of Transactions - II are Recording of Transactions 2, Meaning of Cash Book, Purchases …Study with Quizlet and memorize flashcards containing terms like An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called, How does an indexed annuity differ from a fixed annuity?, T, age 70, withdraws cash from a ... Study with Quizlet and memorize flashcards containing terms like An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called, How does an indexed annuity differ from a fixed annuity?, T, age 70, withdraws cash from a ... Business. Managerial Accounting. Warner Company purchases $50,000 of raw materials on account, and. Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. Warner Company purchases $50,000 of raw ... 4th Class 400,000 300,000 50,000 5th Class 300,000 200,000 50,000 6th Class 200,000 100,000 50,000 In the case of barangays, Fifty Thousand Pesos (P50,000). 3. For Foreign-funded Procurement, the thresholds shall be determined in each case, taking into account the nature of the goods, works, or assignment, by agreement between the GOP and theTính tỷ lệ phần trăm trên tổng số là bài toán tính % thường gặp nhất trong các phép toán tính phần trăm. Để tính phần trăm của 1 nhân tố trong số nhiều nhân tố, bạn chỉ cần lấy …15. Transcribed Image Text: A company purchased a building worth $500,000 by paying $50,000 in cash and acquiring a bank loan for the remainder. The effect on the accounting equation is: Increase in assets and liabilities by $500,000 Decrease in assets and liabilities by $50,000 Increase in assets and liabilities by $450,000 Decrease in assets ...Aflac Life Insurance coverage for $50,000 (with no medical questions required) is selected. ... It may be in your best interest to purchase life insurance as soon ...2017. The entire stock was destroyed except, stock salvaged of ` 50,000. Insurance Policy was for ` 5,00,000 with average clause. The following information was obtained from the records saved for the period from 1st April to 30th September, 2017: ` Sales 27,75,000 Purchases 18,75,000 Carriage inward 35,000These 50,000 shares were purchased by Adam for P120 per share. On August 30, 2016, Bland distributed 50,000 stock rights to Adam. Adam was entitled to buy one new share of Bland Company for P90 cash and two of these rights. On August 30, 2016, each share had a market value of P and each right had a market value of P20.20. Chap 13 in ra - otal sales divided by capital invested.C. profit divided by capital invested.Owner's Equity is defined as the proportion of the total value of a company’s assets that can be claimed by the owners (sole proprietorship or partnership) and by the shareholders (if it is a corporation). It is calculated by deducting all liabilities from the total value of an asset (Equity = Assets – Liabilities).AC-PLS-P-25K-S. Secure Client Advantage – Perpetual License/25,000 Unique Users. CON-ECMU-ACPL25K. L-AC-PLS-P-G. AC-PLS-P-50K-S ... purchase. The license ...The purpose of the Rules Governing Life Insurance and Annuity Replacements is to. P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "no". The policy is then issued with no scuba exclusions.child. P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011.Items in Inventory On December 31, Pitts Manufacturing Company reports the following assets: Cash $50,000 Raw materials $74,000 Work in process 176,000 Marketable securities 25,000 Equipment 950,000 Finished goods 150,000 Building 1,200,000 Goodwill 50,000 What is the total amount of Pitts' inventory at year-end? BUY.A.On January 1, 2016, Company P purchases 100% of Company S voting stock for $800,000 cash, and Company P maintains Company S as a subsidiary. At the date of purchase, Company S reavealed the following: assets $900,000, liabilities $100,000, common stock, $300,000, and retained earnings $500,000. Required: A.An example of a business purchasing procedure is one that starts with identification of a needed product and ends with the execution of a purchase order.1. According to the question prepared Adj. P & L Account and other necessary Account. 2. Apply all adjustments on t, What is the annual payment required by the mortgage? If you could get a loan for 25 , COGS = Opening Stock + Purchases – Closing Stock. COGS = $50,000 + $500,000 – $20,000. COGS = $530,, 1. The statement of retained earnings for 2019 showed, Enter the email address you signed up with and we'll email yo, Intermediate Accounting Inventories - Please show the complete solution on items 8, COGS = Opening Stock + Purchases – Closing Stock. COGS = $50,000 + $500,000 – $20,000. COGS = $530,000. T, Aug 19, 2021 · The payment for these purchases may be postponed for t, Jan 1, 2015 · Any excess of cost over book value was att, The payment of cash dividends, Compute the cash flows fr, 2017. Jan. 2: Purchased Typewriter for ₹ 7,500. 4: Sold goods for Cash, P purchases a $50,000 whole life insurance policy , (a) Invested Rs. 4,00,000 cash and office equipment with Rs.1,5, Non-manufacturing entities or the trading entities are inv, Audit of Inventory Problems with Solutions. CHAPTER 5 –, COGM = 10,000 + 100,000 + 50,000 + 60,000 – 30,000 =, This policy statement will discuss the treatment of capital , (iii) An advance of ₹ 10,000 given alongwith purc.