# Question No 03 Chapter No 18 – T.S. Grewal 11 Class

Question No.03 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

Question No 03 Chapter No 18

3.From the following information determine Gross Profit for the year ended 31st March, 2018

 Opening Stock 1stApril, 2017 25,000 Goods purchased during the year 1,40,000 Freight and Packing 10,000 Closing Stock 31stMarch, 2018 30,000 Sales 1,90,000 Packing Expenses on Sales 6,000

The solution of Question No 03 Chapter No 18:-

 Gross Profit = Sales + Closing Stock – Opening Stock +Freight and Packing +Goods Purchased = 1,90,000 + 30,000 – 25, 000 +10, 000 +1, 40, 000 = 2,20,000 – 1,75,000 = Rs 45,000

 Trading Account for the year ended March 31, 2018 Particulars Amount Particulars Amount To Opening Stock 25,000 By Sales 1,90,000 To Purchases 1,40,000 To Freight and Packing 10,000 By Closing Stoc 30,000 To Gross Profit 45,000 2,20,000 2,20,000

Final Accounts: Meaning, Definition and Explanation

Trading Account: Meaning, Format and Examples

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

• Chapter No. 1 – Introduction to Accounting
• Chapter No. 2 – Basic Accounting Terms
• Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
• Chapter No. 4 – Bases of Accounting
• Chapter No. 5 – Accounting Equation
• Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
• Chapter No. 8 – Journal
• Chapter No. 9 – Ledger
• Chapter No. 10 – Special Purpose Books I – Cash Book
• Chapter No. 11 – Special Purpose Books II – Other Books
• Chapter No. 12 – Bank Reconciliation Statement
• Chapter No. 13 – Trial Balance
• Chapter No. 14 – Depreciation
• Chapter No. 15 – Provisions and Reserves
• Chapter No. 16 – Accounting for Bills of Exchange
• Chapter No. 17 – Rectification of Errors
• Chapter No. 18 – Financial Statements of Sole Proprietorship
• Chapter No. 19 – Adjustments in preparation of Financial Statements
• Chapter No. 20 – Accounts from incomplete Records – Single Entry System
• Chapter No. 21 – Computers in Accounting
• Chapter No. 22 – Accounting Software – Tally
• Chapter No. 5 – Accounting Equation
• Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 8 – Journal
• Chapter No. 9 – Ledger
• Chapter No. 10 – Special Purpose Books I – Cash Book

T.S. Grewal’s Double Entry Book Keeping