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 |
| 2,40,000 | = | 4x-x |
| 4 | ||
| 9,60,000 | = | 3x |
| x | = | ₹3,20,000 |
| 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 |
| = | 64,000 | X | 100 | |
| 3,20,000 | ||||
| = | 20 % Ans. |
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Accounting Ratios – Meaning and Definition
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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