Operating leverage
See Answer →Cost of capital
See Answer →Principal of double entry
See Answer →From the following Trial Balance of Gupta & Sons, prepare Trading and Profit and Loss Account for the year ended December 31, 2018 and a Balance Sheet as on that date.
Trial Balance
| Name of the Account | Debit Balances | Credit Balances |
| Rs. | Rs. | |
| Capital | 5,00,000 | |
| Sales | 10,00,000 | |
| Sales Returns | 25,000 | |
| Purchases | 5,00,000 | |
| Purchases Returns | 15,000 | |
| Inventory as on 1.1.18 | 60,000 | |
| Land & Buildings | 4,00,000 | |
| Plant & Machinery | 3,00,000 | |
| Furniture | 1,00,000 | |
| Wages | 50,000 | 7,000 |
| Carriage Inwards | 10,000 | |
| Provision for Bad Debts | ||
| Carriage Outwards | 5,000 | |
| Cartage | 5,000 | |
| Salaries | 40,000 | |
| Loan | 2,60,000 | |
| Debtors | 1,50,000 | |
| Creditors | 70,000 | |
| Rent | 8,000 | |
| Bills Receivable | 40,000 | |
| Acceptances | 10,000 | |
| General Expenses | 20,000 | |
| Rent & Rates | 10,000 | |
| Investments | 50,000 | |
| Cash in hand | 50,000 | |
| Bank Overdraft | 10,000 | |
| Discount | 4,500 | |
| Bad Debts | 5,000 | |
| Interest on Investments | 5,000 | |
| Interest on Bank Overdraft | 500 | |
| Goodwil | 60,000 | |
| Total | 18,85,000 | 18,85,000 |
Additional Information
1) The value of inventory on December 31, 2018 was Rs. 1,00,000.
2) Depreciation is to be provided on: Land & Building @ 5% p.a. Furniture @ 10% p.a. Plant & Machinery Rs. 50,000.
3) Provision for Bad Debts is to be maintained @ 5% on debtors.
4) Wages are outstanding to the extent of Rs. 4,000 and Salaries to the extent of Rs. 3,000.
5) Rent and Rates are prepaid to the extent of 1/4th of the amount paid.
6) Interest on Investment outstanding is Rs. 1,000.
7) Rent to the extent of Rs. 2,000 has been received in advance.
See Answer →Why control is needed in materials management? Explain the different types of controls needed in materials management.
See Answer →
Discuss the points to be considered while deciding the site of the store and precautions to be adopted for fire prevention in the store.
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Discuss the various activities involved in ensuring quality during receipt, storage and delivery of items.
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What are the functions of procurement department? Discuss the objectives of procurement department.
See Answer →KANBAN and POLLA Cards
See Answer →Pull and Push Systems
See Answer →
What do you understand by negotiation? Explain the steps involved in negotiation.
See Answer →What are the issues critical for supplier development? Discuss in detail.
See Answer →Define the materials management. Discuss the functions of materials management in detail.
See Answer →Explain the importance of quality in food and beverage operations with examples.
See Answer →
Describe how the storing and issuing procedures of food and beverages contribute to the overall quality control in an establishment.
See Answer →Write a note on 'Personal Hygiene of Kitchen Staff.
See Answer →Briefly explain the cleaning procedure of metals like Silver and Brass.
See Answer →How should front desk staff handle the check-out process for different types of 20 guests, such as business travelers, families, and VIP guests?
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