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Question no 07 Chapter No 16 – Unimax Class 11

Question No 07 Chapter No 16 - UNIMAX Class 11
Question No 07 Chapter No 16 - UNIMAX Class 11

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Question No 07 Chapter No 16 – Unimax Class 11

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From the following, pass the journal entry to adjust the interest and show it will be recorded in final accounts assuming that accounts are closed on 31st March every year.

         Extracts of Trial Balance as at 31.3.2020 
ParticularsDebitCredit
Interest  9,000

Adjustment: interest earned but not received ₹ 1200

The solution of Question No 07 Chapter No 16 – UNIMAX Class 11

Journal
DateParticularsL.F.DebitCredit
31.3.2020 Accrued interest A/cDr. 1200 
  To Insurance A/c    1200
  (Being the amount of accrued interest)     

 

                                 Profit & Loss A/c
                                for the year ended 31st March,2020
 
ParticularsAmountParticularsAmount
   By Interest                    9000  
    Add: Accrued 1,200 10,200
                               Balance Sheet
                                    As at 31st March, 2020 
 
Liabilities AmountAssetsAmount
   Accrued interest6,000

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Comment if you have any Doubts .lance Sheet

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

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 

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Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

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

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

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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. 13 – Depreciation

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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