Question 4 Chapter 1 - Unimax Publications of Class 11

Question 4 Chapter 1 - Unimax

4. From the following data, calculate the profits made by a trader in 2021.

	Rs.
Stock of goods on 1-1-2021	15,675
Purchases during the year	37,000
Purchases returns during the year	4,725
Sales returns during the year.	8,987
Carriage inward	1,123
Sales during the year	77,765
Stock of goods on 31-12-2021	1,775

The solution of Question 4 Chapter 1 - Unimax: 

Cost of goods sold	= Opening Stock + Net Purchases + Direct Expenses – Closing Stock
Net Purchases	= Purchases-Purchases Returns
	= Rs. 37,000-4,725
	= Rs. 32,275
Cost of goods sold	= Rs. 15,675 +32,275+1,123-1,775
	= Rs. 47,298
Gross Profit	= Net Sales - Cost of goods sold
Net Sales	= Sales - Sales Returns
	= Rs. 77,765 - 8,987
	= Rs. 68,778
Gross Profit	= Rs. 68,778- 47,298
	= Rs. 21,480

This is all about the Question 4 Chapter 1 - Unimax. You can check out the following article to better understand:

Financial Accounting Terminology

You Can also read all above articles in Hindi on our Hindi Website

Financial Accounting Terminology – Explained in Hindi

Thanks, Please Like and share with your friends  

Comment if you have any doubt in the Question 4 Chapter 1 - Unimax.

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