What is the main topic of "Question No 05 Chapter No 10 - USHA Publication 11 Class"?

This guide covers "Question No 05 Chapter No 10 - USHA Publication 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +1 Elements of Book-Keeping.

Who can benefit from this guide on "Question No 05 Chapter No 10 - USHA Publication 11 Class"?

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.

Where can I practice questions related to "Question No 05 Chapter No 10 - USHA Publication 11 Class"?

You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question No 05 Chapter No 10 - USHA Publication 11 Class" instantly.

Question No 05 Chapter No 10 - USHA Publication 11 Class

⚡

Quick Overview & Key Takeaways

Focus Topic:Question No 05 Chapter No 10 - USHA Publication 11 Class

Estimated Reading Time:3 mins

Comprehensive academic guide covering core concepts of Question No 05 Chapter No 10 - USHA Publication 11 Class.
Syllabus-aligned study material with detailed definitions, formats, and practical examples.
Interactive check: Includes a custom practice quiz at the bottom of the article to self-evaluate knowledge.

Question No 05 Chapter No 10

Opening Entry

5. From the following trial balance of Bhardwaj Electrical as on 31st March 2017 pass the closing entries:

Ledger A/c	(Dr)Rs	Ledger A/c	(Cr)Rs
Purchases (net)	2,10,000	Sale	2,7,0000
Carriage inward	4,000	Capital	2,99,000
Excise duty	6,000	Creditors	60,000
Stock (1.4.2016)	32,000	Salaries outstanding	15,000
Machinery	3,00,000	Interest on deposits	1,500
Deprecation on machinery	24,000	Commission received	2,500
Salaries	35,000
Advertisement	16,000
Interest on loan	2,300
Bank balance	8,700
Drawing	10,000
	6,48,000		6,48,000

The solution of Question No 05 Chapter No 10: -

In the Books of Deepti Walia

Date	Particulars		Debit	Credit
2019
Mar.31	Trading A/c	Dr.	2,52,000
	To opening Stock A/c			32,000
	To Purchases A/c			2,10,000
	To Carriage inward A/c			4,000
	To Excise Duty A/c			6,000
	(Being the direct expenses charged to Trading A/c)

Mar.31	Sale A/c	Dr.	2,70,000
	Closing Stock A/c	Dr.	55,000
	To Trading A/c			3,25,000
	(Being Sale and closing stock transferred to Trading A/c)

Mar.31	Profit & Loss A/c	Dr.	77,300
	To Deprecation A/c			24,000
	To Salaries A/c			35,000
	To Advertisement A/c			16,000
	To Interest on loan A/c			2,300
	(Being indirect expenses charged to P&L A/c)

Mar.31	Interest on Deposited A/c	Dr.	1,500
	Commission received A/c	Dr.	2,500
	To Profit & Loss A/c			3,000
	(Being income credited to P&L A/c)

Mar.31	Capital A/c	Dr.	300
	To Profit and loss A/c			300
	(Being loss transferred to capital A/c)

Mar.31	Capital A/c	Dr.	10,000
	To Drawing A/c			10,000
	(Being drawing transfer to capital A/c)