Question No 23 Chapter No 19 – T.S. Grewal 11 Class

Question No 23 Chapter No 19

Question No 23 Chapter No 19

23. Calculate the Stock at the end:

   
Stock in the beginning 20,000
Cash Sales 60,000
Credit Sales 40,000
Purchases 70,000
Rate of Gross Profit on Cost 1/3



The solution of Question No 23 Chapter No 19:-

 

Rate of Gross Profit on Cost = 1/3
Rate of Gross Profit on Sale = 1/4
Total Sales = Cash Sales + Credit Sales
Total Sales = 60,000 + 40,000 = 1,00,000
Gross Profit = 25,000 ¼ of 1, 00, 000
Cost of Goods Sold = Net Sales – Gross Profit
Cost of Goods Sold = 1,00,000 – 25,000 = 75,000
Cost of Goods Sold = Opening Stock + Purchases – Closing Stock
75,000 = 20,000 + 70,000 – Closing Stock
Closing Stock = 15,000



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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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

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication

T.S. Grewals Double Entry Book Keeping - Question No 23 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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