Amar restores and sells second hand motorcycles. At 31st December, 2006, he had one motorcycle in inventory.
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Amar restores and sells second hand motorcycles. At 31st December, 2006, he had one motorcycle in inventory. Details of this were: Model: Bajaj Boxer Details :
This item cost ₹ 10,000 and in December, 2006 Amar had also spent ₹ 750 on repairs. He has not yet sold it but is confident to sell it in a motorcycle fair in February 2007 for at least ₹ 15,000. It will cost Amar ₹ 250 to transport motorcycle to the fair. The value of motorcycle to be included in the final account for 2006 is
A. ₹ 10,000
B. ₹ 15,000
C. ₹ 10,750
D. ₹ 14,750
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Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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