Question No 11 Chapter No 17
11. From the following balance of Harjit Singh, prepare Trading and Profit & loss account and balance sheet for the year 2017-18
| Debit Balance | Rs | Debit Balance | Rs |
| Machinery | 35,000 | Rent | 4,500 |
| Debtors | 27,000 | Sundry expenses | 2,000 |
| Drawing | 9,000 | Carriage | 1,500 |
| Purchases | 95,000 | Credit Balance | |
| Wages | 50,000 | Capital account | 1,00,000 |
| Bank | 15,000 | Creditor | 14,000 |
| Opening stock | 20,000 | Sales | 145,000 |
Closing Stock Rs 6,000
The solution of Question No 11 Chapter No 17:-
| Trading Account |
|||||
| Particular |
Amount | Particular |
Amount | ||
| To opening Stock A/c | 20,000 | By Sales | 1,45,000 | ||
| To Purchases | 95,000 | ||||
| To Wages A/c | 50,000 | ByClosing Stock | 6,000 | ||
| To Carriage A/c | 1,500 | ||||
| By Gross Loss A/c | 15,500 | ||||
| 1,66,500 | 1,66,500 | ||||
| Profit & Loss Account |
|||||
| Particular |
Amount | Particular |
Amount | ||
| To Gross Loss A/c | 15,500 | ||||
| To Sundry Expenses A/c | 2,000 | ||||
| To Rent A/c | 4,500 | ||||
| By Net Loss A/c | 22,000 | ||||
| 22,000 | 22,000 | ||||
| Balance Sheet |
|||||
| Labilities |
Amount | Assets |
Amount | ||
| Capital A/c | 1,00,000 | Machinery | 35,000 | ||
| Less: Net Loss | 22,000 | Debtors | 27,000 | ||
| Less: Drawing | 9,000 | 69,000 | Closing Stock | 6,000 | |
| Creditors | 14,000 | Bank | 15,000 | ||
| 83,000 | 83,000 | ||||
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
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Balance Sheet: Meaning, Format & 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. 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
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Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)