Question No 10 Chapter No 19 - T.S. Grewal 11 Class

The solution of Question No 10 Chapter No 19:-

 

Working Notes

Statements of Affairs as on April 01, 2017

Liabilities	Amount	Assets		Amount
Sundry Creditors	17,500	Furniture		2,000
		Stock		28,000
Capital	35,000	Sundry Debtors		21,000
		Cash		1,500
	52,500			52,500

 

Closing Statement of Affairs

Liabilities	Amount	Assets		Amount
Sundry Creditors	19,000	Furniture	2,000
Loan	5,000	Less: 10% Depreciation	200	1,800
		Stock		30,500
		Sundry Debtors	34,000
		Less: 10% Reserve for Doubtful Debts	3,400	30,600
		Cash		2,000
		Bills Receivables		3,000
		Investments		10,000
Capital	53,900
	77,900			77,900

 

Statement of Profit or Loss for the year and March 31, 2018

Particular		Amount
Capital as on March 31, 2018		53,900
Add: Drawings		5,000
		58,900
Less: Capital as on April 01, 2017		35, 000
Profit made during the year 2017-18		23,900

 

https://tutorstips.com/final-accounts/

https://tutorstips.com/profit-and-loss-account/

 

https://tutorstips.com/balance-sheet/

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: -

• • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 - Accounting Equation
  • Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 - Journal
  • Chapter No. 9 - Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication