What is the main topic of "Question no 22 Chapter No 17 - Unimax Class 11"?

This guide covers "Question no 22 Chapter No 17 - Unimax Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax class 11 - 2021.

Who can benefit from this guide on "Question no 22 Chapter No 17 - Unimax Class 11"?

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 22 Chapter No 17 - Unimax Class 11"?

You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question no 22 Chapter No 17 - Unimax Class 11" instantly.

Question no 22 Chapter No 17 - Unimax Class 11

⚡

Quick Overview & Key Takeaways

Focus Topic:Question no 22 Chapter No 17 - Unimax Class 11

Estimated Reading Time:5 mins

Comprehensive academic guide covering core concepts of Question no 22 Chapter No 17 - Unimax Class 11.
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 22 Chapter No 17 - Unimax Class 11

Gaurav maintains incomplete records. He supplies you the following information:

	31-3-2019	31-3-2020
Cash balance	20,000	40,000
Sundry Debtors	40,000
Sundry creditors	20,000	20,000
Stock	45,000	60,000
Unpaid expenses	4,000	6,000
Prepaid expenses	2,000	5,000
Office equipment	30,000	40,000

Receipts and payments during the year were:

	₹
Receipts from Debtors	2,00,000
Payments to Creditors	1,00,000
Carriage	6,000
Sundry expenses	35,000
Drawings	30,000
Office equipment purchases for cash	10,000

Other information:

There was a considerable amount of cash sales.
(2) Credit sales during the year amounted to ₹ 2,50,000.
(3) Depreciation office equipment by 5%.
(4) Provide for doubtful debts @ 5% on debtors

Prepare a Trading & Profit and Loss A/c for the year ended 31st March 2020 and Balance sheet as at that date

The solution of Question No 22 Chapter No 17 - UNIMAX Class 11

Cash book

Receipts	Amount	Payments	Amount
Balance Sheet As at 31st March, 2020	20,000	By Payments to Creditors	1,00,000
To Receipts from debtors	2,00,000	By Carriage	6,000
To Cash sales (Balance figure)	1,000	By Sundry expenses	35,000
		By Drawings	30,000
		By office equipment	10,000
		By Balance c/d (balance figure on 31-3-2020)	40,000
	2,21,000		2,21,000

Total Debtors A/c

Particulars	Amount	Particulars	Amount
To Balance b/d (1-4-2019)	40,000	By cash received from debtors	2,00,000
To Credit sales	2,50,000	By Balance c/d (31-3-2020)	90,000
	2,90,000		2,90,000

Total Creditors A/c

Particulars	Amount	Particulars	Amount
To Cash paid to creditors	1,00,000	By Balance b/d (1-4-2019)	20,000
To Balance c/d (31-3-2020)	20,000	To Creditors purchases (Balance figure)	1,00,000
	1,20,000		1,20,000

Opening Balance Sheet
As at 1st April 2019

Liabilities	Amount	Assets	Amount
Sundry Creditors	20,000	Cash	20,000
Unpaid expenses	4,000	Sundry Debtors	40,000
Capital (Balance figure)	1,13,000	Stock	45,000
		Prepaid expenses	2,000
		Office equipment	30,000
	1,37,000		1,37,000

Trading and Profit and Loss A/c
For the year ending 31st March, 2020

Particulars		Amount	Particulars		Amount
To Opening stock		45,000	By Sales:
To Purchases:		1,00,000	Cash sales	1,000
To Carriage		6,000	Credit sales	2,50,000	2,51,000
To Gross Profit c/d		1,60,000	By Closing stock		60,000
		3,11,000			3,11,000
To sundry expenses	35,000		By Gross Profit B/d		1,60,000
Less: Unpaid expenses of last year	4,000
Add: Unpaid expenses of this year	6,000
Add: Prepaid expenses of last year	2,000
Less: Prepaid expenses of this year	5,000	34,000
To Depreciation		2,000
To Provision for doubtful debts		4,500
To Net profit		1,19,500
		1,60,000			1,60,000

Balance Sheet
As at 31st March, 2020

Liabilities		Amount	Assets		Amount
Sundry Creditors		20,000	Cash		40,000
Unpaid expenses		6,000	Sundry Debtors	90,000
Capital	1,13,000		Less: provision for doubtful debts	4,500	85,500
Add: Net Profit	1,19,500		Stock		60,000
Less: Drawing	30,000	2,02,500	Prepaid expenses		5,000
		2,23,650	Office equipment	40,000
			Less: Depreciation	2,000	38,000
		2,28,500			2,28,500