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# Question No 21 Chapter No 19 – T.S. Grewal 11 Class

Question No.21 - Chapter No.19- T.S. Grewal +1 Book 2019-Solution

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Question No 21 Chapter No 19

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21. A firm sells goods at Cost plus 25%. Sales to credit customers ¾ of total was 1,80,000. His Opening and Closing Stocks were 20,000 and 15,000 respectively. Find out the value of Purchases.

## The solution of Question No 21 Chapter No 19:-

 Credit Sales = 1,80,000 3/4 of Total Sales Gross Profit = 25% of Cost or 20% of Sales Gross Profit = 48,000 Cost of Goods Sold = Net Sales – Gross Profit Cost of Goods Sold = 2,40,000 – 48,000 = 1,92,000 Cost of Goods Sold = Opening Stock + Purchases – Closing Stock 1,92,000 = 20,000 + Purchases – 15,000 Purchases = 1,87,000

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

• Chapter No. 1 – Introduction to Accounting
• Chapter No. 2 – Basic Accounting Terms
• Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
• Chapter No. 4 – Bases of Accounting
• Chapter No. 5 – Accounting Equation
• Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
• Chapter No. 8 – Journal
• Chapter No. 9 – Ledger
• Chapter No. 10 – Special Purpose Books I – Cash Book
• Chapter No. 11 – Special Purpose Books II – Other Books
• Chapter No. 12 – Bank Reconciliation Statement
• Chapter No. 13 – Trial Balance
• Chapter No. 14 – Depreciation
• Chapter No. 15 – Provisions and Reserves
• Chapter No. 16 – Accounting for Bills of Exchange
• Chapter No. 17 – Rectification of Errors
• Chapter No. 18 – Financial Statements of Sole Proprietorship
• Chapter No. 19 – Adjustments in preparation of Financial Statements
• Chapter No. 20 – Accounts from incomplete Records – Single Entry System
• Chapter No. 21 – Computers in Accounting
• Chapter No. 22 – Accounting Software – Tally
• Chapter No. 5 – Accounting Equation
• Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 8 – Journal
• Chapter No. 9 – Ledger
• Chapter No. 10 – Special Purpose Books I – Cash Book

T.S. Grewal’s Double Entry Book Keeping

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