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Question No 06 Chapter No 16 – Unimax Class 11
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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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Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
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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
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Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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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
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Chapter No. 15 – Bills of Exchange
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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