Question 19 Chapter 15 – Class 11 Unimax

Question 19 Chapter 15 – Class 11 Unimax

From the following Trial Balance prepare a Trading and a Profit and Loss account for the year ending 31st March,2020 and a balance sheet as on that date:

Particulars	₹	Particulars	₹
Debit balance		Rent, Rates and taxes	4,800
Sundry debtors	9,000	Salaries	12,000
Stock 1st April,2019	30,000	Drawings	12,000
Land and Buildings	60,000	Purchases	60,000
Cash in hand	9,600	Office expenses	15,000
Cash at bank	24,000	Plant & Machinery	34,200
Wages	18,000	Credit Balances
Bills Receivable	12,000	Capital	1,50,000
Interest	1,200	Interest	3,600
Bad debts	3,000	Sundry creditors	42,000
Repairs	1,800	Sales	1,02,000
Furniture and fixtures	9,000	Bills Payable	24,000
Depreciation	6,000

On 31st March,2020 the stock was valued at ₹ 60,000.

The solution of Question 19 Chapter 15 – Class 11 Unimax

Trading A/c, Profit & Loss A/c , As On 31st March, 2020

Particular	Amount	Particular	Amount
To Opening stock	30,000	By Sales	1,02,000
To wages	18,000	By Closing stock	60,000
To Purchases	60,000
To Gross profit c/d (and transferred to profit & loss A/c)	54,000
	1,62,000		1,62,000
To interest	1,200	By Gross Profit b/d	54,000
To Bad debts	3,000	Interest	3,600
To Repairs	1,800
To Depreciation	6,000
To Rent, Rates and taxes	4,800
To Salaries	12,000
To Office expenses	15,000
To Net profit c/d (and transferred to capital A/c)	13,800
	57,600		57,600

Balance sheet as on31st March, 2020

Liabilities		Amount	Assets		Amount
Capital	1,50,000		Sundry debtors		9,000
Add net profit	13,800		Land and Buildings		60,000
Less drawings	12,000	1,51,800	Cash in hand		9,600
Sundry creditors		42,000	Cash at bank		24,000
Bill payable		24,000	Bills Receivable		12,000
			Plant & Machinery		34,200
			Furniture and fixtures		9,000
			Closing stock		60,000
Total		2,17,800			2,17,800