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{"ops":[{"insert":"From the given information (Amount in Lakhs):\ncost of goods sold- 580\nopening stock- 40 \nclosing stock- 70 \ncreditors at the beginning of the year -60 \ncreditors at the end of the year- 100 \ncash purchases- 45 \nOriginal cost of equipment sold -400 \nGain on the equipment sold -50 \nAccumulated depreciation on the equipment -80\nCalculate:\n a. Total purchases, credit purchases and payment to creditors (5 Marks)\n b. Define the term Net book value, Accumulated depreciation calculate the net book value and cash proceeds from sale of investment\u00a0\n"}]}
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