Accounts from Incomplete Records Single Entry System - 2 | Accountancy Class 11 - Commerce PDF Download

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Q.23 Calculate the Stock at the end: 
  ? 
Stock in the beginning 20,000 
Cash Sales 60,000 
Credit Sales 40,000 
Purchases 70,000 
Rate of Gross Profit on Cost 1/3 
 
 
 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
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Q.23 Calculate the Stock at the end: 
  ? 
Stock in the beginning 20,000 
Cash Sales 60,000 
Credit Sales 40,000 
Purchases 70,000 
Rate of Gross Profit on Cost 1/3 
 
 
 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
 
 
 
Q.24 Calculate the value of Closing Stock from the following information: 
  ? 
Purchases 93,000 
Wages 20,000 
Sales 1,20,000 
Carriage Outwards 3,200 
Opening Stock 16,000 
Rate of Gross Profit 25% on Cost.   
 
The solution can be presented as follows 
 
Q.25 Calculate Purchases: 
                           ? 
Cost of Goods Sold  65,000 
Stock in the beginning 4,000 
Closing Stock 5,000 
 
 
 
 
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Q.23 Calculate the Stock at the end: 
  ? 
Stock in the beginning 20,000 
Cash Sales 60,000 
Credit Sales 40,000 
Purchases 70,000 
Rate of Gross Profit on Cost 1/3 
 
 
 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
 
 
 
Q.24 Calculate the value of Closing Stock from the following information: 
  ? 
Purchases 93,000 
Wages 20,000 
Sales 1,20,000 
Carriage Outwards 3,200 
Opening Stock 16,000 
Rate of Gross Profit 25% on Cost.   
 
The solution can be presented as follows 
 
Q.25 Calculate Purchases: 
                           ? 
Cost of Goods Sold  65,000 
Stock in the beginning 4,000 
Closing Stock 5,000 
 
 
 
 
 
 
 
 
Q.26 Calculate Sales: 
Cost of goods sold ? 2,00,000 
Rate of Gross Profit 20% on Sales 
 
 
Q.27 Debtors in the beginning of the year were ? 30,000, Sales on credit during the year were ? 75,000, 
Cash received from the Debtors during the year was ? 35,000, Returns Inward (regarding credit sales) 
were ? 5,000 and Bills Receivable drawn during the year were ? 25,000. Find the balance of Debtors at the 
end of the year, assuming that there were Bad Debts during the year of ? 2,000. 
The solution can be presented as follows 
 
 
 
 
 
 
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Q.23 Calculate the Stock at the end: 
  ? 
Stock in the beginning 20,000 
Cash Sales 60,000 
Credit Sales 40,000 
Purchases 70,000 
Rate of Gross Profit on Cost 1/3 
 
 
 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
 
 
 
Q.24 Calculate the value of Closing Stock from the following information: 
  ? 
Purchases 93,000 
Wages 20,000 
Sales 1,20,000 
Carriage Outwards 3,200 
Opening Stock 16,000 
Rate of Gross Profit 25% on Cost.   
 
The solution can be presented as follows 
 
Q.25 Calculate Purchases: 
                           ? 
Cost of Goods Sold  65,000 
Stock in the beginning 4,000 
Closing Stock 5,000 
 
 
 
 
 
 
 
 
Q.26 Calculate Sales: 
Cost of goods sold ? 2,00,000 
Rate of Gross Profit 20% on Sales 
 
 
Q.27 Debtors in the beginning of the year were ? 30,000, Sales on credit during the year were ? 75,000, 
Cash received from the Debtors during the year was ? 35,000, Returns Inward (regarding credit sales) 
were ? 5,000 and Bills Receivable drawn during the year were ? 25,000. Find the balance of Debtors at the 
end of the year, assuming that there were Bad Debts during the year of ? 2,000. 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
Q.28 Creditors on 1st April, 2018 were ? 15,000, Purchases on credit were ? 30,000, Cash paid to Creditors 
during 2018-19 was ? 20,000, Returns Outward (regarding credit purchases) were ? 1,000 and Bills 
Payable accepted during the year were ? 10,000. Find the balance of Creditors on 31st March, 2019. 
The solution can be presented as follows 
 
 
Q.29 Following information is given of an accounting year: 
Opening Creditors ? 15,000; Cash paid to creditors ? 15,000; Returns Outward ? 1,000 and Closing 
creditors ? 12,000. 
Calculate Credit Purchases during the year. 
The solution can be presented as follows 
 
 
 
 
 
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Q.23 Calculate the Stock at the end: 
  ? 
Stock in the beginning 20,000 
Cash Sales 60,000 
Credit Sales 40,000 
Purchases 70,000 
Rate of Gross Profit on Cost 1/3 
 
 
 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
 
 
 
Q.24 Calculate the value of Closing Stock from the following information: 
  ? 
Purchases 93,000 
Wages 20,000 
Sales 1,20,000 
Carriage Outwards 3,200 
Opening Stock 16,000 
Rate of Gross Profit 25% on Cost.   
 
The solution can be presented as follows 
 
Q.25 Calculate Purchases: 
                           ? 
Cost of Goods Sold  65,000 
Stock in the beginning 4,000 
Closing Stock 5,000 
 
 
 
 
 
 
 
 
Q.26 Calculate Sales: 
Cost of goods sold ? 2,00,000 
Rate of Gross Profit 20% on Sales 
 
 
Q.27 Debtors in the beginning of the year were ? 30,000, Sales on credit during the year were ? 75,000, 
Cash received from the Debtors during the year was ? 35,000, Returns Inward (regarding credit sales) 
were ? 5,000 and Bills Receivable drawn during the year were ? 25,000. Find the balance of Debtors at the 
end of the year, assuming that there were Bad Debts during the year of ? 2,000. 
The solution can be presented as follows 
 
 
 
 
 
 
 
 
 
Q.28 Creditors on 1st April, 2018 were ? 15,000, Purchases on credit were ? 30,000, Cash paid to Creditors 
during 2018-19 was ? 20,000, Returns Outward (regarding credit purchases) were ? 1,000 and Bills 
Payable accepted during the year were ? 10,000. Find the balance of Creditors on 31st March, 2019. 
The solution can be presented as follows 
 
 
Q.29 Following information is given of an accounting year: 
Opening Creditors ? 15,000; Cash paid to creditors ? 15,000; Returns Outward ? 1,000 and Closing 
creditors ? 12,000. 
Calculate Credit Purchases during the year. 
The solution can be presented as follows 
 
 
 
 
 
 
 
Q.30 From the following information supplied by Rohit, who keeps his books on Single Entry System, you 
are required to calculate Total Purchases: 
  ? 
Opening balance of Bills Payable 5,000 
Opening balance of Creditors 6,000 
Closing balance of Bills Payable 7,000 
Closing balance of Creditors 4,000 
Cash paid to Creditors during the year 30,200 
Bills Payable discharged during the year 8,900 
Returns Outward 1,200 
Cash Purchases 25,800 
 
 
The solution can be presented as follows 
 
 
 
 
Total Purchases = Cash Purchases + Credit Purchases 
 
Total Purchases = 25,800 + 40,300  
 
                           = ? 66,100