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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 2 Chapter 15 – Class 11 Unimax
From the following information, prepare the Trading account for the year ending on 31st March, 2020.
Opening stock ₹ 90,000 ; cash sales ₹ 36,000 ; Credit sales ₹ 7,20,000 ; Returns outwards ₹ 6,000 ; Wages & Salaries ₹ 2,400 ; Carriage inward ₹ 1,200 ; Freight inward ₹ 1,800 ; Cartage inwards ₹ 600 ; Cash purchases ₹ 30,000 ; Credit purchases ₹ 6,00,000 ; returns inward ₹ 12,000 ; closing stock as on 31st March ₹ 50,400 ; Freight outward ₹ 600.
Trading A/c, Profit & Loss A/c of MR.X for the year ended 31st March, 2020
| Particular |
Amount | Particular |
Amount | ||
|---|---|---|---|---|---|
| To Opening stock | 90,000 | By Sales (Cash) | 36,000 | ||
| To Purchases (Cash) | 30,000 | Add Sales (Credit) | 7,20,000 | ||
| Add Purchases (Credit) | 6,00,000 | 7,56,000 | |||
| 6,30,000 | Less returns | 12,000 | 7,44,000 | ||
| Less returns | 6,000 | 6,24,000 | By Closing stock | 50,400 | |
| To Wages & Salaries | 2,400 | ||||
| To Carriage inward (1,200+600) | 1,800 | ||||
| To Freight inward | 1,800 | ||||
| To Balance c/d | 74,400 | ||||
| 7,94,400 | 7,94,400 | ||||
| By Balance b/d | 74,400 | ||||
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 2 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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