Question No 12 Chapter No 1 – USHA Publication 11 Class

Question No 12 Chapter No 1

Question No 12 Chapter No 1

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

  Rs
Opening Stock 1,00,000
Purchases during the year 4,50,000
Purchased retune 30,000
Custom duty 18,000
Closing stock  58,000
Gross profit 25% on sales  

 

The solution of Question No 12 Chapter No 1: –

 

Calculation of cost of goods sold and sales
Particular
Amount
Opening stock   1,00,000
+ Purchases   4,50,000
– Purchased retune   (30,000)
+ Import duty   18,000
    5,38,000
– Closing stock   5 8,000
Cost of goods sold   4,80,000
+ Gross Profit (25%on cost)   1,60,000
Sales   6,40,000

 

Gross profit = 4,80,000 X 25
100 – 25
         
  = 1,60,000    

 

 

Financial Accounting – Introduction and its Functions

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)

Leave a Reply