Question 31 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
31. A trader carries an average stock 40,000 [cost]. His stock turnover is 8 times. If he sells goods at a profit of 20% on sales, find out his profit.
The solution of Question 31 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –
|
Stock turnover ratio |
= | C.O.G.S |
| Average stock |
|
8 |
= | C.O.G.S |
| 40,000 |
| C.O.G.S. | = | ₹3,20,000 |
| Let Sale | = | x |
| Profit on sales | = | 20% of x |
| = | 20 x /100 = 1/5 x | |
| C.O.G.S | = | Net Sales -G.P. |
| 3,20,000 | = | x- 1/ 5 x |
| 3,20,000 | = | 5x -x/5 |
|
|
4 | x = | 3,20,000 | |
| 5 |
| x = | 3,20,000 x | 5 |
| 4 |
| = | ₹ 4,00,000 | |
| Profit on sales | = | 20% of 4,00,000 |
| = | 80,000 Ans. |
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Accounting Ratios – Meaning and Definition
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Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit sharing ratio among Existing Partners )
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
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