Question No 11 Chapter No 18

Question No 11 Chapter No 18

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 AccountDebit BalanceCredit Balance
Opening stock of medicine1,80,000
Purchases of medicine5,00,000

Adjustments:
Closing stock of medicine was Rs 2,40,000 show how these items will be shown in financial statements of 2017-18

The Content covered in this article:

The solution of Question No 11 Chapter No 18:-

Trading Account
Particular
AmountParticular
Amount
To Opening Stock A/c1,80,000    
Add:Purchases 5,00,000    
Less: Closing Stock2,40,0004,40,000   
      
    

 

 

Balance Sheet
Labilities
AmountAssets
Amount
   Closing stock 2,40,000
      
    

 

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

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