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Question 5 Chapter 1 – Unimax
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Table of Contents
5. Calculate Profit if:
| Cash Sales =Rs. 40.000 | Credit Sales Returns = Rs. 3,000 |
| Credit Sales = Rs. 30,000 | Cost of Goods Sold = Rs. 50,000 |
The solution of Question 5 Chapter 1 – Unimax:
| Gross Profit | = Net Sales – Cost of goods sold |
| Net Sales | = Sales – Sales Returns |
| Or [(Cash Sales + Credit Sales)-Sales Return] | |
| = Rs. [(40,000+30,000) -3,000] | |
| = Rs. 67,000 | |
| Gross Profit | = Rs. 67,000- 50,000 |
| = Rs. 17,000 |
This is all about the Question 5 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
Students may Choose only one part from the Part II and Part III
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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
You can also Check out the other Books’ Solution: –