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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 10 Chapter No 15 - Unimax Class 11
From the following information, prepare profit and loss account for the year ended 31.03.2020.
| ₹ | |
| Gross profit | 3,00,000 |
| Office salary | 50,000 |
| Rent and Taxes | 30,000 |
| Advertisements | 12,500 |
| Selling expenses | 37,500 |
| Carriage outward | 10,000 |
| Interest and bank charges | 15,000 |
| Trade expenses | 20,000 |
| Depreciation | 7,500 |
| Other expenses | 12,50 |
Profit & Loss A/c of MR.X for the year ended 31st March, 2020
| Particular |
Amount | Particular |
Amount | ||
|---|---|---|---|---|---|
| To Office salary | 50,000 | By Gross Profit b/d | 3,00,000 | ||
| To Rent and Taxes | 30,000 | ||||
| To Advertisements | 12,500 | ||||
| To Selling expenses | 37,500 | ||||
| To Carriage outwards | 10,000 | ||||
| To Interest and bank charges | 15,000 | ||||
| To Trade expenses | 20,000 | ||||
| To Depreciation | 7,500 | ||||
| To Other expenses | 12,500 | ||||
| To Net Profit c/d (and transferred to capital a/c) |
1,05,000 | ||||
| 3,00,000 |
3,00,000 | ||||
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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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