Question No 24 Chapter No 18 - T.S. Grewal 11 Class

The solution of Question No 24 Chapter No 18:-

 

Trading Account

Particular		Amount	Particular		Amount
To Opening Stock		1,65,000	By Sales	6,35,000
To Purchases	4,68,500		Less : Return inward	4, 500	6,30,500
Less: Return Outwards	1, 100	37,000	By Closing Stock		1,82,100
To Wages		25,000
To Carriage		8,500
To Gross Profit		1,46,700
		8,12,600			8,12,600

 

Profit and Loss Account

Particular		Amount	Particular		Amount
To General Expenses		8,000	By Gross Profit		1,46,700
To Rent Paid		37,100	By Interest on Investments		1,000
To Electricity Charges		1,900
To Salaries		11,100
To Discount Allowed		3,000
To Net Profit		86,600
		1,47,700			1,47,700

 

Balance Sheet

Particular		Amount	Particular		Amount
Capital	3,50,000		Building		1,87,500
Add: Net Profit	86,600		Machinery		92,500
Less: Drawings	6, 500	4,30,100	Investments		35,000
Sundry Creditors		1,00,000	Closing Stock		1,82,100
Bills Payable		50,000	Debtors		35,000
			Cash at bank		30,000
			Cash in Hand		18,000
		5,80,100			5,80,100

 

 

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

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

 

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

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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

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