BANK RECONCILIATION STATEMENT $ Dr. Balance c/f as per cash book Add: Cheque no.

210 issued in February but not yet presented Cheque no. 217 not yet presented Cheque no. 218 not yet presented Interest on account not yet added in Cash book $ 7537

600 863 500 45 2008 9545

Less: Deposit of 25/03/2011 not yet credited by bank Deposit of 27/03/2011 not yet credited by bank Remaining amount of Cheque no. 213 which was posted incorrectly in cash book Remaining amount of Cheque no. 216 which was posted incorrectly in cash book Bank Charges Eft monthly rent paid directly from account Balance as per bank statement (Cr.)

2000 2400 30 63 35 1200 5728 3817

E.

Total Units = Units sold = Remaining Units =

2000 1800 200

Cost of Goods available for sale 400 units @ Rs. 1 500 units @ Rs. 1.1 400 units @ Rs. 1.2 = Rs. 400 = Rs. 550 = Rs. 480

400 units @ Rs. 1.25 = Rs. 500 300 units @ Rs. 1.40 =Rs. 420

Rs. 2350

FIFO
According to FIFO method, the units sold will include inventory purchased first i.e. 400 units @ Rs. 1 500 units @ Rs. 1.1 400 units @ Rs. 1.2 = Rs. 400 = Rs. 550 = Rs. 480

400 units @ Rs. 1.25 = Rs. 500 100 units @ Rs. 1.40 =Rs. 140 Rs. 2070

Remaining inventory will be from the purchases of Quarter 4 i.e. 200 units @ Rs. 1.40 each =Rs. 280

Cost of Goods Sold (by formula)

= Cost of Goods available for sale Cost of ending inventory = 2350 280 =Rs. 2070

LIFO
According to LIFO method, the units sold will include inventory purchased last i.e. 200 units @ Rs. 1 = Rs. 200

500 units @ Rs. 1.1 400 units @ Rs. 1.2

= Rs. 550 = Rs. 480

400 units @ Rs. 1.25 = Rs. 500 300 units @ Rs. 1.40 =Rs. 420 Rs. 2150 Remaining inventory will be from the purchases of Quarter 1 i.e. 200 units @ Rs. 1.00 =Rs. 200

Cost of Goods Sold (by formula)

= Cost of Goods available for sale Cost of ending inventory = 2350 200 =Rs. 2150

Weighted Average Method

Weighted Unit Cost = Cost of Goods available for sale / Total Units = 2350 / 2000 = Rs. 1.175 per unit

Cost of Units Sold

= 1800*1.175 = Rs. 2115

Ending Inventory

= 200*1.175 = Rs. 235

D.

Date 1-Jul

1-Jan

Particulars Bank 9% Debenture a/c Premium on issue of debenture (issue of debentures on premium price i.e. Rs. 105 each share) Interest on Debenture Bank (Interest paid on debentures)

Debit Credit 1050000 1000000 50000

45000 45000

(iss walay sawal ki 3rd entry mei mjy confusion ho ri ti, thats y chor di hai, tm ker lena)