Question No 11 Chapter No 15 – Unimax Class 11
Following is the Trial Balance as on 31.03.2020.
| Particular | Debit (₹) |
Credit (₹) |
| Drawing and capital | 10,000 | 1,10,000 |
| Closing stock | 12,000 | |
| Salaries | 20,000 | |
| Carriage outwards | 4,000 | |
| Discount | 1,000 | 4,000 |
| Commission | 4,000 | 3,000 |
| Interest | 7,000 | 2,000 |
| Debtors & creditors | 52,000 | 18,000 |
| Bad debts | 3,000 | |
| Recovery of bad debts | 1,000 | |
| Plant and Machinery | 83,000 | |
| Cash and Bank | 6,000 | 9,000 |
| Gross and profit | 55,000 | |
| Total | 2,02,000 | 2,02,000 |
Prepare profit & loss account for the year ended 31.03.2020.
The solution of Question No 11 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 Salaries | 20,000 | By Gross Profit b/d | 55,000 | ||
| To Carriage outwards | 4,000 | By Discount | 4,000 | ||
| To Discount | 1,000 | By Commission | 3,000 | ||
| To Commission | 4,000 | By Interest | 2,000 | ||
| To Interest | 7,000 | By Recovery of bad debts | 1,000 | ||
| To Bad debts | 3,000 | ||||
| To Net Profit c/d (and transferred to capital a/c) |
26,000 | ||||
| 65,000 | 65,000 | ||||
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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
- 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
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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
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Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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