A. 17,000 (overstated.
B. 12,000 (understated.
C. 7,000 (overstated.
D. 7,000 (understated.
Related Mcqs:
- During the year 2011-2012, the value of closing inventory was overstated by 25,000. Which of the following is true??
- While finalizing the current year‘s accounts, the company realized that an error was made in the calculation of closing stock of the previous year. In the previous year, closing stock was valued more by 50,000. As a result?
- On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified.?
- Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending W-I-P inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning W-I-P inventory How many equivalent units should be produced??
- Errors in forest inventory is / are:
- In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.?
- A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.?
- The annual financial statement of the estimated income and expenditure for the ensuring year is known as
- Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.?
- Recent developments have made much of a company‘s inventory obsolete. This obsolete inventory should be??
