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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question 5 Chapter 15 – Class 11 Unimax
Opening stock ₹ 15,000 ; Sales 48,000 ; Carriage inward ₹ 3,000 ; Sales returns ₹ 3,000 ; Gross profit ₹ 18,000 ; Purchases ₹ 30,000 ; Purchases return ₹ 2,700. Calculate closing stock and cost of goods sold.
|
= |
₹ 48,000-₹ 3,000 | ||
| = | ₹ 45,000 | ||
| Cost of goods sold | = | Net sales-Gross profit | |
| = | ₹ 45,000-₹ 18,000 | ||
| = | ₹ 27,000 | ||
| Cost of goods sold | = | Opening stock+ Purchases -Purchases return | |
| Carriage inwards-Closing stock | |||
| ₹ 27,000 | = | ₹ 15,000+₹ 30,000-₹27,00 | |
| + | ₹ 3,000 | ||
| Closing stock | = | ₹ 45,300-₹ 27,000 | |
| = | ₹ 18,300 | ||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 5 Chapter 15 – Class 11 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 15 - Financial Statements (Without Adjustments) - Unimax.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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