Question 10 Chapter 1 - Unimax Publications of Class 11

Question 10 Chapter 1 - Unimax

10. From the following data of Manjul , Find out the cost of goods sold and sales for the year 2020-21

	Rs.
Opening Stock	50,000
Purchases during the year	4,00,000
Purchase return	20,000
Import duty	20,000
Closing Stock	60,000

G. P. 25% on sales

The solution of Question 10 Chapter 1 - Unimax: 

COGS	= Opening Stock + Net Purchases + Direct Expenses – Closing Stock
	= Rs. 50,000 + (4,00,000-20,000)+20,000 - 60,000
	= Rs. 50,000+3,80,000+20,000-60,000
	= Rs. 4,50,000-60,000
	= Rs. 3,90,000

G.P	= 25% on Sales
	= 3,90,000    X	25
		100-25
	= 3,90,000    X	25
		75
	= Rs. 1,30,000

Sales	= G.P. + C.O.G.S
	= Rs. 1,30,000+3,90,000
	= Rs. 5,20,000

This is all about the Question 10 Chapter 1 - Unimax. You can check out the following article to better understand:

Financial Accounting Terminology

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Financial Accounting Terminology – Explained in Hindi

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You can also Check out the solved question of other Chapters: -

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 – Introduction of Accounting
• Chapter No. 2 – Theory Base of Accounting
• Chapter No. 3 – Vouchers and Transactions
• Chapter No. 4 – Journal
• Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
• Chapter No. 6 – Ledger
• Chapter No. 7 – Special Purpose Book – Cash Book
• Chapter No. 8 – Other Subsidiary Books
• Chapter No. 9 – Trial Balance
• Chapter No. 10 – Rectification of Errors
• Chapter No. 11 – Depreciation
• Chapter No. 12 – Provision and Reserves
• Chapter No. 13 – Bank Reconciliation Statement
• Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

• Chapter No. 18 – Introduction to Computers and Accounting information System
• Chapter No. 19 – Computerised Accounting
• Chapter No. 20 – Accounting Software : Tally
• Chapter No. 21 – Data Base System
• Chapter No. 22 – Concept of Entity and Relationship

You can also Check out the other Books' Solution: -

• Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
• T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
• D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution