Question no 16 Chapter No 17 – Unimax Class 11

Question no 16 Chapter no -17 unimax class11

Question No 16 Chapter No 17 – Unimax Class 11

From the following information, ascertain the value of closing stock:

 ₹ Stock in the beginning 30,000 Cash sales 60,000 Credit sales 20,000 Purchases 1,00,000 Indirect expenses 20,000 Rate of gross profit on cost 25%

The solution of Question No 16 Chapter No 17 – UNIMAX Class 11

 Particulars Amount Particulars Amount To Opening stock A/c 30,000 By Sales A/c To Purchases A/c 1,00,000 Cash 60,000 To Gross Profit (note 1) 16,000 Credit 20,000 80,000 By closing stock (Balancing figure) 66,000 1,46,000 1,46,000
 Goods costing ₹ 100 has been sold at a profit of ₹ 25. As such If the sales price is ₹ 125, Gross Profit = 25 If the sale price is ₹ 1, Gross profit = 25/125 If the sale price is ₹ 80,000, Gross Profit = 80,000*25/125=16,000

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Final Accounts: Meaning, Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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 Computers 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

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