# Question No 13 Chapter No 1 – USHA Publication 11 Class

Question No 13 Chapter No 1

13. From the following data of Nargis, find out the cost of goods sold and sales for the year 2015-16

 Rs Stock of goods on 1-4-2015 45,000 Purchases during the year 2,46,000 Purchased retune 31,000 Freight on purchased 10,000 Stock of goods on 31-3-2016 70,000 Gross profit 20% on sales

## The solution of Question No 13 Chapter No 1: –

 Calculation of cost of goods sold and sales Particular Amount Opening stock 45,000 + Purchases 2,46,000 – Purchased retune (31,000) + Import duty 10,000 2,70,000 – Closing stock 70,000 Cost of goods sold 2,00,000 + Gross Profit (25%on cost) 50,000 Sales 2,50,000

 Gross profit = 2,00,000 X 20 100 – 20 = 50,000

Financial Accounting – Introduction and its Functions

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## 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)