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Question 7 Chapter 1 – Unimax Class 12 Part 1 – 2021

Question 7 Chapter 1 - Unimax Class 12 Part 1 - 2021
Question 7 Chapter 1 - Unimax Class 12 Part 1 - 2021

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Question 7 Chapter 1 – Unimax Class 12 Part 1

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7. Calculate the amount to be posted to Income and Expenditure Account for the year ending 31.12.2021 in respect of ‘Stationery’.

Stock of Stationery on Jan. 1, 2021300
Creditors for stationery on Jan. 1, 2021200
Advance paid for stationery carried forward from 202080
Amount paid for stationery during 20212,050
Stock of Stationery on Dec. 31, 2021 40
Advance paid for stationery on 31.12.202125

The solution of Question 7 Chapter 1 – Unimax Class 12 Part 1: 

ParticularsAmount
Opening Stock of Stationery as on Jan. 1, 2012 300
Add: – Advance paid for stationery carried forward from 2011 80
Add: – Amount paid for stationary during the year 2012 2050
  2430
Less: – Creditors for stationery as on Jan. 1, 2012200 
Less: – Stock of stationery as on Dec. 31, 201240 
Less: – Advance paid for stationery as on Dec. 31, 201225265
Amt. of stationery to be posted in income and Expenditure A/c2165

It is all about Question 7 Chapter 1 of Class 12 unimax, If you have any problem please comment below.

Read out the full article to know the meaning of Not for Profit Organisations

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Not-for-Profit Organisations – Meaning and Overview

Also, Check out the same article in Hindi from the following link

Not-for-Profit Organisations – Meaning and Overview

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

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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)

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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)

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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)

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