Question No 11 Chapter No 1 – USHA Publication 11 Class

Question No 11 Chapter No 1

Question No 11 Chapter No 1

11. From the following data of Vikas, find out the cost of goods sold and sales for the year 2009-10

  Rs
Stock of goods on 1.4.2009 60,000
Purchases  1,50,000
Wages 10,000
Gross profit 30% on the cost   

 

The solution of Question No 11 Chapter No 1: –

 

Calculation of cost of goods sold and sales
Particular
Amount
Opening stock   60,000
+ Purchases   1,50,000
+ Import duty   10,000
    2,20,000
– Closing stock   40,000
Cost of goods sold   1,80,000
+ Gross Profit (30%on cost)   54,000
Sales   2,34,000

 

To understand more about Introduction to accounting please check out following links: –

Financial Accounting – Introduction and its Functions

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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

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