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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 - 2021

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Question 13 Chapter 1 – Unimax Class 12 Part 1

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

1st January, 2021 stock of medicines5000
1st January, 2021 outstanding creditors for medicines3000
Amount paid for medicines during the year15000
Value of medicines spoiled during the year400
Stock of medicines on 31st December, 20213500

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
ParticularsAmount
To Bank a/c15,000By Balance b/d3,000
  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 1-1-20125000
Add: Purchases Made during 201212000
 17000
Less: Stock of Medicines As on 31-12-20123500
Less: Stock of Medicines As on 31-12-201213500

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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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Comment if you have any doubt in Question 13 Chapter 1 – Unimax.

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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)

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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)

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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)

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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)

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