Chapter No. 1 – Introduction of Accounting -Unimax Publications Class 11 – 2021

In this post, we have provided the Question wise solution of all Questions of Chapter No. 1 – Introduction of Accounting -Unimax Publications Class 11 – 2021. So first we will discuss the meaning of financial accounting and solved all problems:

What is Financial Accounting:

Financial Accounting is measurement, processing, and communication of financial information about a business or organization.it is basic accounting or initial level accounting in which we are recording, summarising and analyzing day to day transactions of the particular business. and at the end, we will get to know about the financial position of a business or an organization by preparing Profit/loss and balance sheet of business in the particular financial year.

Definition : –

-(AAA) The American Accounting Association.
“The process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information.”

-AICPA The American Institute of Certified Public Accountants.
“Accounting is the art of recording, classifying and summarising, in a significant manner, and in terms of money, transactions and events which are, in part at least of a financial character, and interpreting the results thereof.”

Chapter No. 1 – Introduction of Accounting -Unimax Publications Class 11 – 2021

Question wise solution of the all Questions of Chapter No. 1 – Introduction of Accounting -Unimax Publications Class 11 – 2021 Problem 1 Chapter 1 - Unimax From the following calculate the cost of goods sold :   Rs. Opening Stock 27,000 ... Problem 2 Chapter 1 - Unimax From the following calculate:(i) Cost of goods sold(ii) Gross Profit   Rs. Opening Stock 12,000 ... Problem 3 Chapter 1 - Unimax PROBLEM From the following calculate Gross Profit/Gross Loss.   Rs. Opening Stock 20,000 Net Purchases ... Problem 4 Chapter 1 - Unimax PROBLEMFrom the following calculate(i) Gross Profit and (ii) Net Profit   Rs. Opening Stock 2,500 ... Question 1 Chapter 1 - Unimax 1. The value of opening stock is Rs. 20,000, Purchases are Rs. 2,00,000 and the ... Question 2 Chapter 1 - Unimax 2. From the information given below, calculate cost of goods sold.   Rs. Opening Stock ... Question 3 Chapter 1 - Unimax 3. Find out the Net Income from the following figures relating to the year 2021 ... Question 4 Chapter 1 - Unimax 4. From the following data, calculate the profits made by a trader in 2021.   ... Question 5 Chapter 1 - Unimax 5. Calculate Profit if: Cash Sales =Rs. 40.000 Credit Sales Returns = Rs. 3,000 Credit ... Question 6 Chapter 1 - Unimax 6. Calculate Net Profit from the given data: Credit Sales – Rs. 40,000 Cash Sales- ... Question 7 Chapter 1 - Unimax 7. From the following information, calculate:(i) Gross Profit(ii) Net Income   Rs. Opening Stock 12,000 ... Question 8 Chapter 1 - Unimax 8. Calculate Merchandise Cost, gross profit and net income from the following:   Rs. Purchases ... Question 9 Chapter 1 - Unimax 9. From the following data of Nagma. Find out the cost of good sold and ... Question 10 Chapter 1 - Unimax 10. From the following data of ManjuL , Find out the cost of goods sold ... Question 11 Chapter 1 - Unimax 11. From the following data of Mr. Manav, Find out the cost of goods sold ... Question 12 Chapter 1 - Unimax 12. From the following data of Avneet. Find out the cost of goods sold and ...