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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question No 02 Chapter No 15 - Unimax Class 11
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) | 39,000 | ||
| 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 | ||||
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Also, Check out the solved question of all Chapters: –
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication
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.
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