Problem No 05 Chapter No 15 – Unimax Class 11

Problem No 05 Chapter No 15 – Class 11 Unimax

Problem No 05 Chapter No 15 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12

The following is the Trial Balance of X & Co. as on 31st March,2020.

Particulars L.F. Debit (₹) Credit (₹)
Cash   32,600  
Bank   70,100  
Purchases/ Sales   2,10,000 7,10,000
Investments   1,22,000  
Returns   70,000 89,000
Carriage inwards   35,000  
Carriage outwards   40,000  
Salaries   1,44,000  
Commission   21,000 500
Interest   20,000 1,000
Wages   25,000  
Opening stock   1,50,000  
Plant & Machinery   1,00,000  
Printing & Stationery   8,800  
Outstanding expenses     1,000
Drawings   48,000  
Carriage outwards   12,000  
Depreciation   5,000  
Debtors/ creditors   80,000 77,000
Short term loan     15,000
Capital     3,00,000
Total   11,93,500 11,93,500

Closing stock as on march 31,2020 stood at ₹ 15,000.

Prepare Trading and Profit & Loss A/c for the year ended March 31, 2020.

The solution of Problem No 05 Chapter No 15 – UNIMAX Class 11

Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020
Particular
Amount Particular
Amount
To Opening stock 1,50,000 By Sales 7,10,000  
To Purchases 2,10,000   Less return 70,000 6,40,000
Less return 89,000 1,21,000 By Closing stock 15,000
To Carriage inwards 35,000    
To Wages 25,000      
To Gross Profit A/c 3,24,000      
    6,55,000     6,55,000
To Carriage outwards 40,000 By Gross profit b/d   3,24,000
To Salaries 1,44,000 By Commission   500
To commission 21,000 By interest   1,000
To Interest 20,000      
To Printing & Stationery 8,800      
To Carriage outwards 12,000      
To Depreciation 5,000      
To Net Profit A/c 74,700      
    3,25,500     3,25,500

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Students may choose only one part from the 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 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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)

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