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Financial Statements — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements3 Marks
Question
Calculate Closing Stock from the following:
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Answer

Cost Of Gold Sold = Net Sales + Gross Loss
= (3,60,000 - 5,000) + 20,000
= ₹ 3,75,000
Cost of Good Sold = Opening Stock + Net Purchase + Direct Expenses - Closing Stock
3,75,000 = 38,000 + (3,40,000 - 4,000) + 26,000 - Closing Stock
Closing Stock = 4,00,000 - 3,75,000
= ₹ 25,000

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