Question No 03 Chapter No 15 – Unimax Class 11
(Without GST). Prepare Trading account for the year ended 31st March,2020 from the following balances:
| Particular | ₹ | Particular | ₹ |
| Stock (1st April,2019) | 1,00,000 | Purchases | 10,00,000 |
| Wages | 50,000 | Carriage inwards | 10,000 |
| Sales | 15,50,000 | Returns inward | 50,000 |
| Returns outward | 80,000 | ||
| Freight | 5,000 |
Closing stock as on 31st March, 2020 was value at ₹ 2,00,000.
Also, pass the closing entries.
The solution of Question No 03 Chapter No 15 – UNIMAX Class 11
| Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020 | |||||
| Particular |
Amount | Particular |
Amount | ||
| To Opening stock | 1,00,000 | By Sales | 15,50,000 | ||
| To Purchases | 10,00,000 | Less return inward | 50,000 | 15,00,000 | |
| Less return outward | 80,000 | 9,20,000 | By Closing stock | 2,00,000 | |
| To Wages | 50,000 | ||||
| To Carriage inwards | 10,000 | ||||
| To Freight | 5,000 | ||||
| To Gross profit c/d | 6,15,000 | ||||
| (Transferred to P & L A/c) | |||||
| 17,00,000 | 17,00,000 | ||||
Thanks, Please Like and share with your friends
Comment if you have any Doubts.
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Advertisement-X
Balance Sheet: Meaning, Format & Examples
Also, Check out the solved question of all 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 Reconciliation 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 Computers 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
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Advertisement-X
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Advertisement-X
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication