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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 17 Chapter No 17 - Unimax Class 11
Ascertain the value of opening stock from the following particulars:
| Amount | Amount | ||
|---|---|---|---|
| Purchases | 60,000 | Sales | 1,00,000 |
| Wages | 12,000 | Closing stock | 60,000 |
| Carriage inwards | 6,000 | Rate of gross profit on cost 25% | |
| Carriage outwards | 8,000 |
| Particulars | Amount | Particulars |
Amount |
|---|---|---|---|
| To Opening stock (balancing figure) | 42,000 | By Sales A/c | 1,00,000 |
| To Purchases | 80,000 | By closing stock | 60,000 |
| To Wages | 12000 | ||
| To Carriage inwards | 6,000 | ||
| To Gross Profit 1,00,000*25/125 | 20,000 | ||
| 1,60,000 | 1,60,000 |
Note:
| Goods costing ₹ 100 has been sold at a profit of ₹ 25. As such | |
| If the sales price is ₹ 125, Gross Profit | = 25 |
| If the sale price is ₹ 1, Gross profit | = 25/125 |
| If the sale price is ₹ 80,000, Gross Profit | 1,00,000x25/125=20,000 |
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Also, Check out the solved question of all Chapters: –
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
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Economics Educator
Mrs. Dilgeerjot Kaur holds a B.Com and M.Com degree and has over 9 years of teaching experience in microeconomics, macroeconomics, and business economics.
This guide covers "Question no 17 Chapter No 17 - Unimax Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax class 11 - 2021.
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