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

Question No 03 Chapter No 19

03. Ascertain cost of Goods Sold and Gross Profit from the following

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 – 50,000
	=	Rs 2,82,000

Net Sale	=	Sale – Sale return
	=	4,00,000 – 8,000
	=	Rs 3,92,000

Gross Profit	=	Net Sale – Cost of Goods Sold
	=	3,92,000 – 2,82,000
	=	Rs 1,10,000

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Also, Check out the solved question of all Chapters: –

Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.