Problem 3 Chapter 1 – Unimax Publications of Class 11

Problem 3- CH-1 Solution-min

Problem 3 Chapter 1 – Unimax

Free Accounting book Solution - Class 11 and Class 12

PROBLEM
From the following calculate Gross Profit/Gross Loss.

  Rs.
Opening Stock 20,000
Net Purchases 95,000
Net Sales 1,00,000
Closing Stock 12,000
Indirect Expenses 2,000
Direct Expenses 3,200

The solution of Problem 3 Chapter 1 – Unimax

(i) Cost of goods sold  = Opening Stock + Net Purchases + Direct Expenses
  = Rs. 20,000+95,000+3,200-12,000
  = Rs. 1,06,200
(ii) Gross loss = Cost of goods sold – Net Sales
  = Rs. 1,06,200-1,00,000
  = Rs. 6,200

This is all about the Problem 3 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 Reconlciliation 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 Compurters 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

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