Question 2 Chapter 2 – Unimax Publications of Class 11

Q-2- CH-2 Solution

Question 2 Chapter 2 – Unimax

Free Accounting book Solution - Class 11 and Class 12

Taking the figures given in above Question, find out the net income according to Accrual Basis of Accounting.

The solution of Question 2 Chapter 2 – Unimax:

Total Sales = Cash Sales + Credit Sales
  = 90,000+60,000
  = Rs. 1,50,000

 

  Rs
Total Sales 1,50,000
Less: Total Expenses for the year  70,000
Net Income  80,000

Note: Rs. 30,000 expenses still to be paid belong to this year and hence to be changed to revenue of this year. Similarly, credit sales of Rs. 60,000 are taken in the year in which sales transact is done.

This is all about the Question 2 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

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

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: –

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