Question No 11 Chapter No 17 – USHA Publication 11 Class

Question No 11 Chapter No 17

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: 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: –

 

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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