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Question 12 Chapter 1 – Unimax Publications of Class 11

Q-12 - CH-1 Solution
Q-12 - CH-1 Solution

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Question 12 Chapter 1 – Unimax

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12. From the following data of Avneet. Find out the cost of goods sold and sales for the year20-21.

 Rs.
Opening Stock60,000
Purchases during the year4,00,000
Purchases Return30,000
Octroi Duty30,000
Stock on 31-3-202160,000

G.P. 20% on Cost

The solution of Question 12 Chapter 1 – Unimax: 

COGS= Opening Stock + Net Purchases + Direct Expenses – Closing Stock
 = Rs. 60,000+ (4,00,000-30,000)+30,000-60,000
 = Rs. 60,000+3,70,000+30,000-60,000
 = Rs. 4,60,000-60,000
 = Rs. 4,00,000
  
GP= 20 % on Cost
 = 4,00,000    X20
 100- 20
 = 4,00,000    X20
 80
 = Rs. 1,00,000 
   
Sales= GP + COGS
 = Rs. 1,00,000+ 4,00,000
 = Rs. 5,00,000

This is all about the Question 12 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

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  • 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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