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Question no 16 Chapter No 17 – Unimax Class 11

Question no 16 Chapter no -17 unimax class11
Question no 16 Chapter no -17 unimax class11

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Question No 16 Chapter No 17 – Unimax Class 11

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

 
Stock in the beginning30,000
Cash sales60,000
Credit sales20,000
Purchases1,00,000
Indirect expenses20,000
Rate of gross profit on cost25%

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

Particulars AmountParticulars
Amount
To Opening stock A/c30,000By Sales A/c  
To Purchases A/c1,00,000Cash60,000 
To Gross Profit (note 1)16,000Credit20,00080,000
  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

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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

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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

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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

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Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication4

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