Question 29 Chapter 15 – Class 11 Unimax

Question 29 Chapter 15 – Class 11 Unimax

From the following trail balance, prepare the Trading and profit and loss account for the year ended 31st march,2020.

Particular	Debit (₹)	Credit (₹)
Capital and drawings	4,560	1,74,000
Purchases and sales	53,400	90,000
Sales and purchases returns	1,680	2,700
Stock (1-4-2019)	7,200
Wages	4,800
Building	1,32,000
Freight and carriage	12,000
Trade expenses	1,200
Advertisement	1,440
Interest	400	2,500
Taxes and insurance	780
Debtors and creditors	39,000	7,200
Bills receivable and bills payable	9,000	4,200
Cash in hand	1,140
Cash at bank	7,200
Salaries	4,800
	2,80,600	2,80,600

Adjustment (1) stock on 31st March,2020 was valued at ₹ 9,000.

The solution of Question 29 Chapter 15 – Class 11 Unimax

Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020

Particular		Amount	Particular		Amount
To Opening stock		7,200	By Sales	90,000
To Purchases	53,400		Less return	1,680	88,320
Less Returns	2,700	50,700	By Closing stock		9,000
To wages		4,800
To fright and carriage		12,000
To Gross profit c/d		22,620
(and transferred to P & L A/c)
		97,320			97,320
To trade expenses		1,200	By Gross Profit b/d		22,620
To Advertisement		1,440	By Interest		2,500
To Interest		400
To Taxes & Insurance		780
To Salaries		4,800
To Net Profit c/d		16,500
(and transferred capital)
		25,120			25,120