Question No 11 Chapter No 18
Table of Contents
Computation of value of items consumed
11. The following balance has been extracted from the trial balance of Miss Radhika as on 31st March 2018:
Ledger Account | Debit Balance | Credit Balance |
Opening stock of medicine | 1,80,000 | – |
Purchases of medicine | 5,00,000 | – |
Adjustments:
Closing stock of medicine was Rs 2,40,000 show how these items will be shown in financial statements of 2017-18
The solution of Question No 11 Chapter No 18:-
Trading Account |
|||||
Particular |
Amount | Particular |
Amount | ||
To Opening Stock A/c | 1,80,000 | ||||
Add:Purchases | 5,00,000 | ||||
Less: Closing Stock | 2,40,000 | 4,40,000 | |||
– | – |
Balance Sheet | |||||
Labilities |
Amount | Assets |
Amount | ||
Closing stock | 2,40,000 | ||||
– | – |
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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- https://tutorstips.in/final-accounts/
- https://tutorstips.in/trading-account/
- https://tutorstips.in/profit-and-loss-account/
- https://tutorstips.in/balance-sheet/
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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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