CA CPT 2014 June Question Paper Fundamentals of Accounting for online practice

‘A’ sent some goods costing Rs.3500 at a profit of 25% on sale to ‘B’ on sale or return basis. ‘B’returned goods costing Rs. 800. At the end of accounting period on 31st December 2011 the remaining goods were neither returned nor approved by him. Closing stock on approval basis to be shown in the balance sheet will be