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Question 4 Chapter 1 – Unimax Publications of Class 11

Q-4 CH-1 Solution-min
Q-4 CH-1 Solution-min

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Question 4 Chapter 1 – Unimax

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4. From the following data, calculate the profits made by a trader in 2021.

 Rs.
Stock of goods on 1-1-202115,675
Purchases during the year37,000
Purchases returns during the year4,725
Sales returns during the year.8,9871
Carriage inward1,123
Sales during the year77,765
Stock of goods on 31-12-20211,775

The solution of Question 4 Chapter 1 – Unimax: 

Cost of goods sold= Opening Stock + Net Purchases + Direct Expenses – Closing Stock
  
Net Purchases= Purchases-Purchases Returns
 = Rs. 37,000-4,750
 = Rs. 32,275
  
Cost of goods sold= Rs. 15,675 +32,275+1,123-1,775
 = Rs. 47,298
  
Gross Profit= Net Sales – Cost of goods sold
  
Net Sales= Sales – Sales Returns
 = Rs. 77,765 – 8,987
 = Rs. 68,778
  
Gross Profit= Rs. 68,778- 47,298
 = Rs. 21,480

This is all about the Question 4 Chapter 1 – Unimax. You can check out the following article to better understand:

Financial Accounting Terminology

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Financial Accounting Terminology – Explained in Hindi

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You can also Check out the solved question of other Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

  • Chapter No. 1 – Introduction of Accounting
  • Chapter No. 2 – Theory Base of Accounting
  • Chapter No. 3 – Vouchers and Transactions
  • Chapter No. 4 – Journal
  • Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
  • Chapter No. 6 – Ledger
  • Chapter No. 7 – Special Purpose Book – Cash Book
  • Chapter No. 8 – Other Subsidiary Books
  • Chapter No. 9 – Trial Balance
  • Chapter No. 10 – Rectification of Errors
  • Chapter No. 11 – Depreciation
  • Chapter No. 12 – Provision and Reserves
  • Chapter No. 13 – Bank Reconlciliation Statement
  • Chapter No. 14 – Bills of Exchange

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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 Compurters 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

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