Question No 05 Chapter No 19

Question No 05 Chapter No 19

05. Calculate Closing Stock from the following:

ParticularRsParticular 
Opening Stock38,000Sales3,60,000
Purchases3,40,000Return Inwards5,000
Return Outwards4,000Gross Loss20,000
Freight Inwards26,000  

The solution of Question No 05 Chapter No 19: –

Cost of Goods Sold=Net Sale – Gross Loss
 =(3,60,000 – 5,000 ) + 20,000
 =Rs 3,75,000
   
Cost of Goods Sold=Opening Stock + Net Purchases + Direct Expenses – Closing Stock
3,75,000=38,000 + (3,40,000 – 4,000 ) + 26,000 – Closing Stock
Closing Stock=4,00,000 – 3,75,000
 =Rs 25,000

Trading Account: Meaning, Format and Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 05 Chapter No 19 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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