CA CPT Model Test Paper 1 with solutions for online practice

On 31st December, 2011 goods sold at a sale price of Rs. 30,000 were lying with customer, Mohan to whom these goods were sold on 'approval or return basis' and recorded as actual sales. Since no consent was received form 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 Rs: