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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question 10 Chapter 15 – Class 11 Unimax
From the following information, prepare profit and loss account for the year ended 31.03.2020.
| ₹ | |
| Gross profit | 3,00,000 |
| Office salary | 50,000 |
| Rent and Taxes | 30,000 |
| Advertisements | 12,500 |
| Selling expenses | 37,500 |
| Carriage outward | 10,000 |
| Interest and bank charges | 15,000 |
| Trade expenses | 20,000 |
| Depreciation | 7,500 |
| Other expenses | 12,50 |
Profit & Loss A/c of MR.X for the year ended 31st March, 2020
| Particular |
Amount | Particular |
Amount | ||
|---|---|---|---|---|---|
| To Office salary | 50,000 | By Gross Profit b/d | 3,00,000 | ||
| To Rent and Taxes | 30,000 | ||||
| To Advertisements | 12,500 | ||||
| To Selling expenses | 37,500 | ||||
| To Carriage outwards | 10,000 | ||||
| To Interest and bank charges | 15,000 | ||||
| To Trade expenses | 20,000 | ||||
| To Depreciation | 7,500 | ||||
| To Other expenses | 12,500 | ||||
| To Net Profit c/d (and transferred to capital a/c) |
1,05,000 | ||||
| 3,00,000 |
3,00,000 | ||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 10 Chapter 15 – Class 11 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 15 - Financial Statements (Without Adjustments) - Unimax.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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