Question No 13 Chapter No 19

Question No 13 Chapter No 19

13. Calculate the amount of gross profit, operating profit and net profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.

Opening Stock50,000
Net Sales11,00,000
Net Purchases6,00,000
Direct Expenses60,000
Administration Expenses45,000
Selling and Distribution Expenses65,000
Loss due to Fire20,000
Closing Stock70,000

The solution of Question No 13 Chapter No 19: –

Trading Account
To Opening Stock 50,000By Net Sales 11,00,000
To Net Purchases 6,00,000By Closing Stock 70,000
To Direct Expenses 60,000   
To Gross Profit 4,60,000   
  11,70,000  11,70,000
Profit & Loss Account
To Administration Expenses 45,000By Gross Profit 4,60,000
To Selling & Distribution Expenses 65,000   
To Loss by Fire 20,000   
To Net Profit 3,30,000   
  4,60,000  4,60,000

Trading Account: Meaning, Format and Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 13 Chapter No 19 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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