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Problem 2 Chapter 1 – Unimax Publications of Class 11

Problem 2 Chapter 1 - Unimax Publications of Class 11

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Problem 2 Chapter 1 – Unimax Publications of Class 11

From the following calculate:
(i) Cost of goods sold
(ii) Gross Profit

 Rs.
Opening Stock12,000
Purchases1,17,000
Direct Expenses2,200
Closing Stock7,500
Sales1,42,000
Return outwards7,500

The solution of Problem 2 Chapter 1 – Unimax Publications of Class 11

(i) Cost of goods sold = Opening Stock + Net Purchases + Direct Expenses-Closing Stock
 = Rs. 12,000 + [1,17,000 – 7,500] + 2,200 – 7,500
 = Rs. 1,16,200

 

(ii) Gross Profit=Net Sales – Cost of goods sold
 = Rs. (1,42,000-1,16,200)
 = Rs. 25,800

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 1 – Introduction of Accounting Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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