Problem No 08 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 6 Min Read August 24, 2023
Problem No 08 Chapter No 15 - Unimax Class 11
Problem No 08 Chapter No 15 - Unimax Class 11

Problem No 08 Chapter No 15 – Unimax Class 11

From the following balances, prepare final accounts of M/s Mangal and Sons for the year ending 31st March,2020: Salary ₹ 5,400; Insurance ₹ 2,500; Cash ₹ 400; Purchases ₹ 84,170; Rent received ₹ 3,150; Drawings ₹ 2,100; Bills payable ₹ 3,900; Debtors ₹ 38,080; Stock 91-4-19) ₹ 29,500; Bank overdraft ₹ 9,700; Carriage ₹ 2,200; Creditors ₹ 4,200; Trade expenses ₹ 4,900; Sales return ₹ 4,700; Machinery ₹ 12,000; Wages ₹ 45,000; Sales ₹ 1,47,200; purchases return ₹ 3,900; Capital ₹ 58,900’ Closing stock ₹ 36,200

The solution of Problem No 08 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   29,500 By Sales 1,47,200  
To Purchases 84,170   Less return 4,700 1,42,500
Less return 3,900 80,270 By closing stock 36,200
To Carriage 2,200    
To Wages 45,000    
To Gross profit c/d 21,730    
    1,78,700     1,78,700
To Salary 5,400 By Gross profit b/d   21,730
To Insurance 2,500 By Rent   3,150
To Taxes and expenses 4,900      
To Net profit c/d 12,080      
    24,880     24,880
Balance sheet of MANGAL SONS. as on 31st March, 2020
Liabilities Amount Assets Amount
Capital 58,900   Cash 400
Add :net profit 12,080   Debtors 38,080
Less Drawings 2,100 68,880 Machinery 12,000
Bills payable 3,900 Closing stock 36,200
Bank overdraft 9,700    
Creditors 4,200    
    86,680   86,680

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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: –

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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

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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

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)

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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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