Question 43 Chapter 7 -Unimax Publication Class 12 Part 2

Question 43 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021

Table of Contents

43. Calculate the gross profit ratio from the following information:

Cash sales: 25% of total sales
Purchases: 2,76,000
Credit sales: 2,40,000
Excess of closing stock over opening stock: 20,000

The solution of Question 43 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –

Let total sales	=	x
Cash Sales	=	25 % of x

	=	25 x	=	1	x
		100		4

Credit sales + cash sales

total sales

2,40,000	+	1	X	=	x
		4

2,40,000	=	x	–	1	X
				4

Let opening stock	=	x
Let closing stock	=	x + 20,000
C.O.G.S	=	opening stock + net purchases + direct taxes – closing stocks
C.O.G.S	=	x + 2,76,000 + Nil – x- 20,000
	=	2,76,000 – 20,000
	=	2,56,000
G.P.	=	Net sales – C.O.G.S.
	=	3,20,000 – 2,56,00
	=	₹64,000

G.P Ratio	=	G.P.	X	100
		Net Sales

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Accounting Ratios – Meaning and Definition

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