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Problem No 05 Chapter No 15 – Unimax Class 11

Problem No 05 Chapter No 15 – Class 11 Unimax
Problem No 05 Chapter No 15 – Class 11 Unimax

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Problem No 05 Chapter No 15 – Unimax Class 11

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

ParticularsL.F.Debit (₹)Credit (₹)
Cash 32,600 
Bank 70,100 
Purchases/ Sales 2,10,0007,10,000
Investments 1,22,000 
Returns 70,00089,000
Carriage inwards 35,000 
Carriage outwards 40,000 
Salaries 1,44,000 
Commission 21,000500
Interest 20,0001,000
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 80,00077,000
Short term loan  15,000
Capital  3,00,000
Total 11,93,50011,93,500

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
AmountParticular
Amount
To Opening stock1,50,000By Sales7,10,000 
To Purchases2,10,000 Less return70,0006,40,000
Less return89,0001,21,000By Closing stock15,000
To Carriage inwards35,000  
To Wages25,000   
To Gross Profit A/c3,24,000   
  6,55,000  6,55,000
To Carriage outwards40,000By Gross profit b/d 3,24,000
To Salaries1,44,000By Commission 500
To commission21,000By interest 1,000
To Interest20,000   
To Printing & Stationery8,800   
To Carriage outwards12,000   
To Depreciation5,000   
To Net Profit A/c74,700   
  3,25,500  3,25,500

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

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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

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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

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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

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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)

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

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