Question 5 Chapter 1 – Unimax Publications of Class 11

Q-5 CH-1 Solution-min

Question 5 Chapter 1 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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

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: –

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