Question no 06 Chapter No 16 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 15, 2023
Question No 0 6 Chapter No 16 - UNIMAX Class 11
Question No 0 6 Chapter No 16 - UNIMAX Class 11

Question No 06 Chapter No 16 – Unimax Class 11

The following Trial Balance has been extracted from the books of M/s Ram Parsad & Sons on 31st December, 2019.

Debit balance ₹ Credit balance ₹
Machinery 4,000 Capital 9,000
Cash at bank 1,000 Sales 16,000
Cash in hand 500 Sundry creditors 4,500
Wages 1,000    
Purchases 8,000    
Stock on 1st Jan.2018 6,000    
Sundry debtors 4,400    
Bills receivable 2,900    
Rent 450    
Commission 250    
General expenses 800    
Salaries 500    
  29,800     29,800

Wages outstanding amount to ₹ 5; rent prepaid amount to ₹ 100, stock on 31st December, 2019 amount of ₹ 8,000.

Prepare trading and profit & loss account for the year ending 31st December, 2019 and Balance sheet as on last date of the year.

The solution of Question No 06 Chapter No 16 – UNIMAX Class 11

TRADING AND PROFIT & LOSS M/SRAM PRASAD & SONS.

FOR THE YEAR ENDED 31 st DEC.2019
Particulars
 Amount Particulars Amount
To Opening stock   6,000 By sales 16,000
To purchase   8,000 By Closing stock  8,000
To Wages 1,000      
Add: Outstanding wages 50 1,050    
To Gross Profi
(transferred to P & L A/c)		   8,950    
    24,000   24,000
To Rent 450   By Gross Profit b/d 8,950
Less: Prepaid rent 100 350 By Interest received 300
To Commission   250    
To General expenses   800    
To salaries   500    
To Net Profit   7,350    
(transferred to capital A/c)        
    9,250     9,250

BALANCE SHEET of M/S Ram prasad & sons. 

As on 31st Dec.,2019
Liabilities Amount Assets Amount
Capital 9,000   Machinery   4,000
Add: Net Profit 7,350 16,350 Cash at bank 1,000
Sundry creditors   4,500 Cash in hand 500
Outstanding wages 50 Sundry debtors  4,400
      Bill receivable   2,900
      Closing stock   8,000
      Prepaid rent   100 
    20,900     20,900

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Comment if you have any Doubts.alance Sheet

Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

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Balance Sheet: Meaning, Format & Examples

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

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Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

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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

 

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