# 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: –

## 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)