Question 1

Question No 01 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 01 Chapter No 19
01. Prepare a Trading Account from the following particulars for the year ended 31st March 2017:-

Particular
Rs
Particular
Rs

Opening stock
2,50,000
Purchases Returns
22,000

Purchases
7,00,000
Sales Return
36,000

Sales
18,00,000
Gas, Fuel and Power
75,000

Wages
2,06,000
Dock Charges
8,000

Carriage Inward
34,000
Factory Lighting
96,000

Carriage Outward
20,000
Office Lighting 
5,000

Manufacturing Expenses
2,48,000

Closing Stock i

Question 2

Question No 02 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 02 Chapter No 19
02. From the following information, prepare the Trading Account for the year ended 31st March, 2017: Adjusted Purchases 15,00,000; Sales 21,40,000; Returns Inwards 40,000; Freight and Packing 15,000; Packing Expenses on Sales 20,000; Depreciation 36,000; Factory Expenses 60,000; Closing Stock 1,20,000.
The solution of Question No 02 Chapter No 19: -
Trading Account

Particular
Amount
Particular
Amount

To Adjusted Purchases
 
15,00,000
By Sales
21,40,000
&nb

Question 3

Question No 03 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 03 Chapter No 19
03. Ascertain cost of Goods Sold and Gross Profit from the following

Particular
Rs

Opening stock
32,000

Purchases
2,80,000

Direct Expenses
20,000

Indirect Expenses
45,000

Closing Stock
50,000

Sales
4,00,000

Sales Returns
8,000

The solution of Question No 03 Chapter No 19: -

Gross Profit
=
Net Sale – Cost of Goods Sold

Cost of Goods Sold
=
Opening Stock + Net Purchases + Direct Expenses – Closing Stock

=
32,000 + 2,80,000 + 20,000

Question 4

Question No 04 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 04 Chapter No 19
04. Calculate Gross Profit on the basis of the following information:

Particular
Rs

Purchases
6,80,000

Return Outwards
30,000

Carriage Inwards
20,000

Carriage Outwards
15,000

Wages
50,000

3/4 of the goods are sold for
6,00,000

The solution of Question No 04 Chapter No 19: -

Cost of Goods Sold
=
Opening Stock + Net Purchases + Direct Expenses – Closing Stock

Net Purchases
=
Purchases – Purchases Return

=
6,80,000

Question 5

Question No 05 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 05 Chapter No 19
05. Calculate Closing Stock from the following:

Particular
Rs
Particular

Opening Stock
38,000
Sales
3,60,000

Purchases
3,40,000
Return Inwards
5,000

Return Outwards
4,000
Gross Loss
20,000

Freight Inwards
26,000

The solution of Question No 05 Chapter No 19: -

Cost of Goods Sold
=
Net Sale – Gross Loss

=
(3,60,000 – 5,000 ) + 20,000

=
Rs 3,75,000

Cost of Goods Sold
=
Opening Stock + Net Purchases + Direct Expenses – Closing St

Question 6

Question No 06 A Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 06 A Chapter No 19
06(a). Calculate gross profit and cost of goods sold from the following information: Net Sales 8,00,000Gross Profit is 40% on Sales
The solution of Question No 06 A Chapter No 19: -

Gross Profit
=
40% on Sale

=
40
X
80,000

100

=
15.98%

Cost of goods Sold
=
Sale – Gross Profit

=
8,00,000 – 3,20,000

=
Rs 4,80,000

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Question 7

Question No 06 B Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 06 B Chapter No 19
06.(b) Calculate gross profit and cost of goods sold from the following information: Net Sales 12,000 Gross Profit 33 1/3 % on Sales
The solution of Question No 06 B Chapter No 19: -

Gross Profit
=
33 1/3% on Sale

=
100
X
12,00,000

3 x 100

=
Rs 4,00,000

Cost of goods Sold
=
Sale – Gross Profit

=
12,00,000 – 4,00,000

=
Rs 8,00,000

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Question 8

Question No 07 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 07 Chapter No 19
07. Calculate the gross profit and cost of goods sold from the following information: Net Sales 9,00,000 Gross Profit is 20% on cost.
The solution of Question No 07 Chapter No 19: -

Gross Profit
=
20% on Cost Or 1/5 on the cost

=
1/5 on cost = 1/6 on Sale

=
1
X
9,00,000

6

=
Rs 1,50,000

Cost of goods Sold
=
Sale – Gross Profit

=
9,00,000 – 1,50,000

=
Rs 7,50,000

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Question 9

Question No 08 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 08 Chapter No 19
08.Ascertain the value of closing stock from the following:

Opening Stock
1,20,000

Purchases during the year
9,30,000

Sales during the year
15,60,000

Rate of Gross Profit
40% on Sales

The solution of Question No 08 Chapter No 19: -

Gross Profit
=
40% on Sale

=
40
X
15,60,000

100

=
Rs 6,24,000

Cost of goods Sold
=
Sale – Gross Profit

=
15,60,000 – 6,24,000

=
Rs 9,36,000

Cos

Question 10

Question No 10 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 10 Chapter No 19
10. Ascertain the value of closing stock from the following

Opening Stock
4,80,000

Purchase
13,60,000

Sales
19,50,000

G.P. is 30% on Cost.

The solution of Question No 10 Chapter No 19: -

Gross Profit
=
30% on Cost

Let the Cost of Goods sold be 'x'

Gross Profit
=
30/100 x

Cost of Good Sold
=
Cost of Good Sold

=
30
X
19,50,000

100x

=
100x +30x
x
19,50,000

100

=
19,50,000 x 100

130

Question 11

Question No 11 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 11 Chapter No 19
11.Calculate Net Sales and G.P. from the following:

Cost of Goods Sold
4,50,000

G.P.
25% on Sales

The solution of Question No 11 Chapter No 19: -

Gross Profit
=
25% on Sales or 1/4 on Sales 1/4 on Sales = 1/3rd on Cost

=
1
X
4,50,000

3

=
Rs 1,50,000

Cost of goods Sold
=
Sales − Gross Profit

4,50,000
=
Sales − 1,50,000

=
Rs 6,00,000

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Question 12

Question No 12 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 12 Chapter No 19
12.Prepare Profit and Loss Account for the year ended 31st March, 2017 from the following particulars:-

Particulars
 
Particulars

General expenses
12,000
Gross profit
7,69,000

Charity
3,000
Carriage Outwards
20,000

Office Lighting
5,000
Office Expenses
16,000

Law Charges
5,800
Fire Insurance Premium
18,000

Advertisement
14,200
Telephone Expenses
13,500

Bank charges
1,200
Establishment expenses
2,500

Commission
7,000
Miscellaneous Expenses
7,100

Question 13

Question No 13 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 13 Chapter No 19
13. Calculate the amount of gross profit, operating profit and net profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.

Opening Stock
50,000

Net Sales
11,00,000

Net Purchases
6,00,000

Direct Expenses
60,000

Administration Expenses
45,000

Selling and Distribution Expenses
65,000

Loss due to Fire
20,000

Closing Stock
70,000

The solution of Question No 13 Chapter No 19: -
T

Question 14

Question No 14 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 14 Chapter No 19
14. Calculate operating profit from the following:

Net Profit
5,00,000

Dividend Received
6,000

Loss on sale of Furniture
12,000

Loss by Fire
50,000

Salaries
1,20,000

Interest on Loan from Bank
10,000

Rent Received
24,000

Donation
5,100

The solution of Question No 14 Chapter No 19: -

Operating Profit
=
Net Profit − Non-Operating Income + Non-Operating Expenses

Non-Operating Income
=
Dividend Received + Rent Received

=
6,000 + 24,0

Question 15

Question No 15 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 15 Chapter No 19
15.Following is the Trial Balance of Sh. Damodar Parshad as at 31st March, 2020:-

Dr. Balances
 
Cr. Balances

Stock 1-4-2019
10,000
Discount Received
750

Purchases
58,000
Return Outwards
2,600

Wages
4,700
Sales
98,650

Returns Inwards
3,520
B/P
3,000

Carriage on Purchases
2,360
Sundry Creditors
5,600

Carriage on Sales
710
Creditors for Rent
500

Office Salaries
4,800
Capital
40,000

Rent and Taxes
2,400
Loan from X
10,000

Cash
1,100
Commission
1,

Question 16

Question No 16 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 16 Chapter No 19
16. From the following balances extracted from the books of Sh. Badri Vishal on 31st March, 2017, prepare a Trading Account, P & L A/c and a Balance Sheet. Closing Stock valued on that date was 15,000.

Dr.
Cr.

Capital 
 
1,28,200

Household Expenses
10,000

Sales
 
1,80,000

Return inwards
4,000

Return outwards
 
6,000

Purchases
1,50,000

Cash at Shop
1,600

Bank Overdraft
 
15,000

Interest on Overdraft
1,500

Creditors
 
17,800

St

Question 17

Question No 17 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 17 Chapter No 19
17.From the following balances of the Ledger of Sh. Akhileshwar Singh, prepare Trading and Profit & Loss Account and Balance Sheet :-

Dr.
Cr.

Stock on 1-4-2017
30,000

Stock on 31-3-2018
46,200

Purchases and Sales
2,30,000
3,45,800

Returns
12,500
15,200

Commission on Purchases
1,200

Freight and Carriage
26,000

Wages and Salary 
10,800

Fire Insurance Premium
820

Business Premises
40,000

Sundry Debtors
26,100

Sundry Credi

Question 18

Question No 18 Chapter No 19 - D.K Goal 11 Class

Sarbjit Singh · Accepted Answer

Question No 18 Chapter No 19
18. Arrange assets in the order of permanence: Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.
The solution of Question No 18 Chapter No 19: -

1.
Goodwill

2.
Land and Building

3.
Plant and Machinery

4.
Motor Vehicle

5.
Loose Tools

6.
Furniture

7.
Investment Long −term

8.
Stock

9.
Sundry Debtors

10.
Marketable Securities

Particular		Amount	Particular		Amount
To opening Stock A/c		2,50,000	By Sales	18,00,000
To Purchases	7,00,000		Less: Return	36,000	17,64,000
Less: Return	22,000	6,78,000	To Closing Stock		6,00,000
To Carriage inwards		34,000
To Wages		2,06,000
To Custom Duty		15,000
To Gas, Fuel & Power		60,000
To Dock Charges		8,000
To Manufacturing Expenses		2,48,000
To Factory Lighting		96,000
To Gross Profit		7,69,000
		23,64,000			23,64,000

D.K Goal +1 New ISC Accountancy Solutions Chapter No. 19 Final Account

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Topics & Questions Solved:

Table of Contents

Question No 01 Chapter No 19 - D.K Goal 11 Class

The solution of Question No 01 Chapter No 19: -

D K Goel – New ISC Accountancy -(Class 11 - ICSE)- Solution

Question No 02 Chapter No 19 - D.K Goal 11 Class

Question No 03 Chapter No 19 - D.K Goal 11 Class

Question No 04 Chapter No 19 - D.K Goal 11 Class

Question No 05 Chapter No 19 - D.K Goal 11 Class

Question No 06 A Chapter No 19 - D.K Goal 11 Class

Question No 06 B Chapter No 19 - D.K Goal 11 Class

Question No 07 Chapter No 19 - D.K Goal 11 Class

Question No 08 Chapter No 19 - D.K Goal 11 Class

Question No 10 Chapter No 19 - D.K Goal 11 Class

Question No 11 Chapter No 19 - D.K Goal 11 Class

Question No 12 Chapter No 19 - D.K Goal 11 Class

Question No 13 Chapter No 19 - D.K Goal 11 Class

Question No 14 Chapter No 19 - D.K Goal 11 Class

Question No 15 Chapter No 19 - D.K Goal 11 Class

Question No 16 Chapter No 19 - D.K Goal 11 Class

Question No 17 Chapter No 19 - D.K Goal 11 Class

Question No 18 Chapter No 19 - D.K Goal 11 Class

Sarbjit SinghB.Com and M.Com

Particular	Rs	Particular	Rs
Opening stock	2,50,000	Purchases Returns	22,000
Purchases	7,00,000	Sales Return	36,000
Sales	18,00,000	Gas, Fuel and Power	75,000
Wages	2,06,000	Dock Charges	8,000
Carriage Inward	34,000	Factory Lighting	96,000
Carriage Outward	20,000	Office Lighting	5,000
Manufacturing Expenses	2,48,000