Chapter No. 16 – Financial Statements (With Adjustments) – Unimax Publications Class 11 – 2021 – Solution

In this article, we have provided the Question wise solution to all Chapter No. 16 – Financial Statements (With Adjustments) – Unimax Publications Class 11 – 2021 – Solution, But first of all, we have explained the meaning of Depreciation: –

Meaning of Final Accounts

Final Accounts gives an idea about the profitability and financial position of a business to its management, owners, and other interested parties. It is a combination of the following statement: –

1. Trading Account
2. Profit and loss account
3. Balance Sheet

Every businessman started a business to earn some income from it. Profit is the net income that the owner gets from the business. To calculate profit or loss, An accountant has made the final accounts for the business for a particular accounting period(i.e. One year starting from 1st April and ending 31st March).

On the basis of the Trial balance, An accountant prepares the final accounts or financial statements for the particular period of time for reporting the management of the business. The final accounts are prepared to throw light on the financial results of the operation of the business during the particular accounting period of time and the financial position of the business at that period of time.

Check out the full article: –

Final Accounts: Meaning, Definition and Explanation

Chapter No. 16 – Financial Statements (With Adjustments) – Unimax Publications Class 11 – 2021 – Solution

The question-wise solution to all Questions of Chapter No. 16 – Financial Statements (With Adjustments) – Unimax Publications Class 11 – 2021 – Solutions are shown below: –

Unimax Publications – Advanced Accountancy-I- Class 11 – 2021 – Solution

Part-I

Chapter No. 1 – Introduction of Accounting

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and Transactions

Chapter No. 4 – Journal

Chapter No. 5 – Goods and Services Tax (GST): An Introduction

Chapter No. 6 – Ledger

Chapter No. 7 – Special Purpose Book –  Cash Book

Chapter No. 8 – Other Subsidiary Books 

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Rectification of Errors

Chapter No. 11 – Depreciation

Chapter No. 12 – Provision and Reserves

Chapter No. 13 – Bank Reconciliation Statement

Chapter No. 14 – Bills of Exchange 

Students may choose only one part from Part II and Part III

Part-II

Chapter No. 15 – Financial Statements (Without Adjustments)

Chapter No. 16 – Financial Statements (With Adjustments)

Chapter No. 17 – Accounts from Incomplete Records –  Single Entry System

Part-III

Chapter No. 18 – Introduction to Computers and Accounting Information System

Chapter No. 19 – Computerised Accounting

Chapter No. 20 – Accounting Software: Tally 

Chapter No. 21 – Data Base System

Chapter No. 22 – Concept of Entity and Relationship