Sale of grass in the case of a sports club is

Related MCQs

• Sales of grass in the case of a sports club is
• Any profit on sale of a cricket bat of a club will be taken to ________
• A profit on sale of furniture of a club will be taken to
• A profit on the sale of furniture of a club will be taken to:
• A club paid subscription fees of `1,400. Out of which ` 200 is prepaid. In such case
• In case of a Club, the excess of expenditure over income is called as
• On 31st March, goods sold at a sale price of ` 30,000 were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since' no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet, the stock with customers account will be shown at `
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• A company sends its cars to dealers on 'sale or return' basis. All such transactions ire however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost ` 55,000 each have been sent on sale or return and have been debited to customers at ` 75,000 each, cost of goods lying with the customers will be
• Life membership fees received by a club is treated as