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Question 62 Chapter 4 of +2-B
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Table of Contents
Profitability Ratio
62. (G.P. Ratio) (a) From the following particulars calculate gross profit ratio :
| ₹ | |
| Gross profit | 42,000 |
| Net sales (Revenue from Operation) | 3,00,000 |
(b)
| 2016 | 2017 | |
| Sales (Revenue from Operation) | 3,00,000 | 4,00,000 |
| Gross profit | 1,00,000 | 1,20,000 |
(c)
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| ₹ | ₹ | ||
| Sales (Revenue from Operation) | 1,60,000 | Purchases | 90,000 |
| Sales return | 10,000 | Purchases returns | 10,000 |
| Opening Inventory | 30,000 | Closing Inventory | 10,000 |
The solution of Question 62 Chapter 4 of +2-B: –
| (a) Gross Profit Ratio | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 42,000 | X | 100 | |
| ₹ 3,00,000 | ||||
| = | 14% |
| (b) (i) 2014 | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 1,00,000 | X | 100 | |
| ₹ 3,00,000 | ||||
| = | 33.3% |
| (ii) 2015 | = | Gross Profit | X | 100 |
| Net Revenue from Operation | ||||
| = | ₹ 1,20,000 | X | 100 | |
| ₹ 4,00,000 | ||||
| = | 30% |
(c)
| Trading A/c |
|||||
| Particular |
Amount | Particular |
Amount | ||
| To Opening Stock A/c | 30,000 | By Sale A/c | 1,60,000 | ||
| To Purchases A/c | 90,000 | Less: Returns | 10,000 | 1,50,000 | |
| Less: Returns | 10,000 | 80,000 | By Closing Stock | 10,000 | |
| To Gross Profit A/c | 50,000 | ||||
| 1,60,000 | 1,60,000 | ||||
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| = | ₹ 50,000 | X | 100 | |
| ₹ 1,50,000 | ||||
| = | 33.3% |
Also, Check out the solved question of previous Chapters: –
Usha 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 (Reconstitution of Partnership)
- 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)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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