Three years ago, a machine was bought for Tk 1,00,000. The installation cost was Tk 20,000. The machine was depreciated in a straight line method at 20% per year. At the end of the 3rd year, the machine was sold for Tk 46,000. What is the gain/loss from sale of this machine?

If the beginning inventory is Tk 18,000, Purchase is Tk 86,000, Purchase return is Tk 4,000, Sales is Tk 1,20,000 and the mark-up on the cost is 25%, then what is the value of closing inventory?

What will be the difference in the cost of goods sold under LIFO and FIFO method given the following Information?

Which of the following incidents decreases the acid test ratio?

Last year, ABC PLC. earned a gross profit margin of 30% on Tk 2,00,000 sales. The company received Tk 2,000 interest income on investment, paid Tk 1,000 interest on long term bond, repaid a short term loan of Tk 20,000 and incurred Tk 31,000 operating expense. If the corporate tax rate was 25% then what was the net income of this company?

The costs of XYZ Inc. are: Utilities for manufacturing equipment Tk 1,200, Raw material Tk 5,000, Depreciation on head office building Tk 2,200, Indirect wages Tk 3,000, Delivery expense Tk 1,400, Property tax on factory Tk 700. What is the product cost of XYZ Inc.?

MN Company is planning to sell 200,000 pliers for Tk 4 per unit. The contribution margin ratio is 25% and fixed cost is Tk 40,000. What is the margin of safety of MN Company?

The trial balance shows Supplies Tk 0 and Supplies Expense Tk 1,500. If Tk 800 of Supplies are on hand at the end of the period, the adjusting entry is:

Items that are added back to net income in determining net cash provided by operating activities under the Indirect method do not include.

When Luminous Company purchased supplies worth Tk 600, it incorrectly recorded a credit to Supplies for Tk 6,000 and a debit to Cash for Tk 6,000. Before correcting this error:

A credit sale of Tk 750 is made on March 3, terms 2/10, net/30. A return of Tk 50 is granted on March 6. The amount received as payment in full on March 9 is:

In periods of rising prices, LIFO will produce -

At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Anchor Company Tk 5,000 and Best Company Tk 7,000. During the month, credit sales were made to Anchor Tk 6,000, Best Tk 4,500, and Zen Tk 8,500. Cash was collected on account from Best Tk 11,500 and Zen Tk 3,000. At the end of the month, the Accounts Receivable account of Best Company in the general ledger should have a balance of -

The reconciling item in a bank reconciliation that will result in an adjusting entry by the depositor is: