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Financial Forensics · Quiz 1 · 29 Oct 2023 · September 2023 term

Question 21: The given table is the income statement of Zara Enterpri…

Question 21

+0.5 marksNumerical answer

The given table is the income statement of Zara Enterprises for three years. Each income statement is missing some numbers; you are required to determine these missing numbers.

Year 1Year 2Year 3
Sales2100.002800₹I
Cost of goods sold:
Beginning inventory400.00300350
Purchases900.00₹E1200
Ending inventory₹A₹F250
Cost of goods sold₹B1100₹J
Gross margin₹C₹G800
Non-manufacturing expenses450550475
Net income (loss)₹D₹HK

Based on the above data, answer the given subquestions.

Enter the correct answer for Blank D

Show answer

Correct answer: 650.00

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Question 21 of 30 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 29 Oct 2023, in the September 2023 term (IIT M DEGREE AN2 EXAM QPE2 29 Oct 2023). It carries 0.5 marks.

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