Question No 08 Chapter No 11 – USHA Publication 11 Class

Question No 08 Chapter No 11

Question No 08 Chapter No 11

Treatment of Closing stock

8. From the following , prepare trial balance as on March,31,2018

Ledger Account Balance Rs  Ledger Account Balance Rs
Coat of goods sold 1,50,000 Opening stock 60,000
Closing stock 40,000 Salaries 15,000
Debtors 60,000 Office expenses 5,000
Creditors 30,000 Sales 2,00,000
Fixed assets 50,000 Capital 90,000

The solution of Question No 08 Chapter No 11: –  

Trail Balance A/c  
Particulars
J.F. Debit Credit
Coat of goods sold   1,50,000  
Closing stock   40,000  
Debtors   60,000  
Creditor     30,000
Fixed assets   50,000  
Office expenses   20,000  
Sale     2,00,000
Capital     90,000
    3,20,000 3,20,000

(i) Opening stock is already adjusted in cost of goods sold .Hence, not taken in Trial balance.

(ii) Closing stock is taken in trial balance when adjusted purchases or cost of goods sod is given

 

Trial Balance | Explanation | Methods | Examples

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

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

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

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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