Question 10 Chapter 1 – Unimax Publications of Class 11

Q-10 - CH-1 Solution-

Question 10 Chapter 1 – Unimax

Free Accounting book Solution - Class 11 and Class 12

10. From the following data of Manjul , Find out the cost of goods sold and sales for the year 2020-21

  Rs.
Opening Stock 50,000
Purchases during the year 4,00,000
Purchase return 20,000
Import duty 20,000
Closing Stock 60,000

G. P. 25% on sales

The solution of Question 10 Chapter 1 – Unimax: 

COGS = Opening Stock + Net Purchases + Direct Expenses – Closing Stock
  = Rs. 50,000 + (4,00,000-20,000)+20,000 – 60,000
  = Rs. 50,000+3,80,000+20,000-60,000
  = Rs. 4,50,000-60,000
  = Rs. 3,90,000
   
G.P = 25 % on Cost  
  = 3,90,000    X 25
  100-25
  = 3,90,000    X 25
  75
  = Rs. 1,30,000   
     
Sales = G.P. + C.O.G.S
  = Rs. 1,30,000+3,90,000
  = Rs. 5,20,000

This is all about the Question 10 Chapter 1 – Unimax. You can check out the following article to better understand:

Financial Accounting Terminology

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Financial Accounting Terminology – Explained in Hindi

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You can also Check out the solved question of other Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

  • Chapter No. 1 – Introduction of Accounting
  • Chapter No. 2 – Theory Base of Accounting
  • Chapter No. 3 – Vouchers and Transactions
  • Chapter No. 4 – Journal
  • Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
  • Chapter No. 6 – Ledger
  • Chapter No. 7 – Special Purpose Book – Cash Book
  • Chapter No. 8 – Other Subsidiary Books
  • Chapter No. 9 – Trial Balance
  • Chapter No. 10 – Rectification of Errors
  • Chapter No. 11 – Depreciation
  • Chapter No. 12 – Provision and Reserves
  • Chapter No. 13 – Bank Reconlciliation Statement
  • Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

  • Chapter No. 15 – Financial Statements (Without Adjustments)
  • Chapter No. 16 – Financial Statements (With Adjustments)
  • Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

  • Chapter No. 18 – Introduction to Compurters and Accounting information System
  • Chapter No. 19 – Computerised Accounting
  • Chapter No. 20 – Accounting Software : Tally
  • Chapter No. 21 – Data Base System
  • Chapter No. 22 – Concept of Entity and Relationship

You can also Check out the other Books’ Solution: –

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