Question 45 Chapter 1 VK Publications Class 12 Part 2 – 2021
Table of Contents
45. Calculate the amount of change in inventories of finished goods, work-in-progress andstock-in-trade, that will be shown in the Notes to Accounts from the following information:
| Opening Inventories | Closing Inventories | |
| Rs. | Rs. | |
| Finished Goods | 5,00,000 | 5,50,000 |
| Work-in-progress | 4,50,000 | 4,25,000 |
| Stock-in-trade | 6,50,000 | 6,00,000 |
The solution of Question 45 Chapter 1 VK Publications Class 12 Part 2: –
| Particulars | Rs. | Rs. |
| Change in Inventories of Finished Goods, WIP and Stock-in-Trade | ||
| (a) Finished Goods | ||
| Opening Inventories | 5,00,000 | |
| Less: Closing inventories | 5,50,000 | (50,000) |
| (b) Work-in-Progress | ||
| Opening Inventories | 4,50,000 | |
| Less: Closing inventories | 4,25,000 | 25,000 |
| (c) Stock-in-Trade | ||
| Opening Inventories | 6,50,000 | |
| Less : Closing Inventories | 6,00,000 | 50,000 |
| Net change to be shown in Statement of Profit and Loss (a + b+ c) | 25,000 |
Financial Statements of a Company and Its formats
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication