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

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

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Question No 03 Chapter No 18

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

    
Opening Stock 1stApril, 201725,000Goods purchased during the year1,40,000
Freight and Packing10,000Closing Stock 31stMarch, 201830,000
Sales1,90,000Packing Expenses on Sales6,000

 

 

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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
AmountParticulars
Amount
To Opening Stock25,000By Sales1,90,000
To Purchases1,40,000  
To Freight and Packing10,000  
  By Closing Stoc30,000
To Gross Profit45,000  
 2,20,000 2,20,000

 

Final Accounts: Meaning, Definition and Explanation

 

Trading Account: Meaning, Format and Examples

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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

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication

T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

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