Question No 06 Chapter No 1 – USHA Publication 11 Class

Question No 06 Chapter No 1

Question No 06 Chapter No 1

6. Calculate the cost of goods sold and gross profit from the following:

  Rs   Rs
Opening stock  5,000 Octroi duty 250
Net purchased 35,000 Closing stock  7,500
Wages 1,250 Sale 39,000

 

The solution of Question No 06 Chapter No 1: –

 

Calculation of Cost of Goods Sold

Cost of goods sold = Opening stock + Net purchased + Direct expenses – Closing stock
  = 5,000 + 35,000 + 1,250 + 250 6 + 7,500
  = Rs 34,000

 

Calculation of Gross Profit

Gross profit = Sales – Cost of goods sold
  = 39,000 – 34,000
  = 5,000

Financial Accounting – Introduction and its Functions

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

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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