Question 1 Chapter 2 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 4 Min Read May 12, 2022
Q-1- CH-2 Solution
Q-1- CH-2 Solution

Question 1 Chapter 2 – Unimax

During the financial year 2019-20, Sumit had cash sales of Rs. 90,000 and credit sales of Rs. 60,000. His expenses for the year were Rs. 70,000 out of which Rs. 30,000 is still to be paid. Find out Sumit’s income for 2019-20 following the cash basis of accounting.

The solution of Question 1 Chapter 2 – Unimax: 

  Rs
Revenues (Inflow of Cash i.e. Cash Sales)  90,000
Less: Expenses (Outflow of Cash) (70,000-30,000)  40,000
Net Income  50,000

Note: Credit Sales and Outstanding expenses will not be considered under Cash basis of accounting.

This is all about the Question 1 Chapter 2 – Unimax. You can check out the following article to better understand:

Financial Accounting Terminology

You Can also read all above articles in Hindi on our Hindi Website

Financial Accounting Terminology – Explained in Hindi

Thanks, Please Like and share with your friends  

Comment if you have any doubt in the Question 1 Chapter 2 – Unimax.

You can also Check out the solved question of other Chapters: –

Advertisement-X

Advanced Accountancy – Unimax 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 Reconlciliation Statement
  • Chapter No. 14 – Bills of Exchange

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 Compurters 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

You can also Check out the other Books’ Solution: –

Advertisement

error: Content is protected !!