Question 13 Chapter 1 – Unimax Class 12 Part 1 – 2021

Question 13 Chapter 1 - Unimax Class 12 Part 1 - 2021

Question 13 Chapter 1 – Unimax Class 12 Part 1

Free Accounting book Solution - Class 11 and Class 12

13. The following figures (all in Rs.) relate to a non-trading concern :

1st January, 2021 stock of medicines 5000
1st January, 2021 outstanding creditors for medicines 3000
Amount paid for medicines during the year 15000
Value of medicines spoiled during the year 400
Stock of medicines on 31st December, 2021 3500

The solution of Question 13 Chapter 1 – Unimax Class 12 Part 1: 

Amount to be debited to income and Expenditure account for the year ended Dec. 31, 2006.

Particulars
Amount
Particulars Amount
To Bank a/c 15,000 By Balance b/d 3,000
    By Purchase of Medicines
(Balancing Figure)
12,000
  15,000   15,000

Amount to be debited to income and Expenditure account for the year ended Dec. 31, 2006.

Stock of Medicines As on 1-1-2012 5000
Add: Purchases Made during 2012 12000
  17000
Less: Stock of Medicines As on 31-12-2012 3500
Less: Stock of Medicines As on 31-12-2012 13500

This is all about the Question 13 Chapter 1 – Unimax. You can check out the following article to better understand:

Not-for-Profit Organisations – Meaning and Overview

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

Not-for-Profit Organisations – Meaning and Overview – In Hindi

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

Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.

Chapter No. 1 – Accounts of Non-Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Basic Concepts)

Chapter No. 3 – Partnership Accounts – II (Goodwill)

Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)