Question no 12 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 8 Min Read April 6, 2023
Question No 12 Chapter No 15 - UNIMAX Class 11
Question No 12 Chapter No 15 - UNIMAX Class 11

Question No 12 Chapter No 15 – Unimax Class 11

From the following information, prepare the profit & loss account for the year ending on March 31,2020.

  ₹   ₹
Gross profit 37,200 Salaries & Wages 12,000
Discount received 600 Discount allowed 1,200
Interest on loan paid 1,500 Interest received 1,800
Commission received 1,200 Commission to sales men 900
Rent, Rate & Taxes paid 2,400 Rent received 600
Fire insurance premium 2,160 Carriage outward 600
Freight outward 300 Repairs & Maintenance 360
Printing & Stationery 360 Travelling expenses 960
Entertainment expenses 720 Water & electricity (indirect) 720
Postage & Telegram 300 Advertising & Publicity 2,400
Sales promotion expenses 240 Telephone expenses 600
Bad debts 600 Packing charges 300
Audit fees 1,200 Bank charges 240
Depreciation on furniture   Legal charges 600
Sales office 600 Miscellaneous expenses 600
Administrative office 1,200 Loss on sales of fixed assets 300
Miscellaneous incomes 1,200 Loss by theft 3,000
Profit on sales of fixed assets 5,100 Dividend received on shares 180
Loss by fire 600 Income from investments 120
Loss by embezzlement 600    

The solution of Question No 12 Chapter No 15 – UNIMAX Class 11

Particular
 Amount Particular
 Amount
To Interest on loan paid 1,500 By Gross Profit b/d 37,200
To Rent, Rate & Taxes 2,400 By Discount received 600
To Fire insurance premium  2,160 By Commission 1,200
To Printing & Stationery 360 By Miscellaneous incomes 1,200
To Entertainment expenses 720 By Profit on sales of fixed assets
 5,100
To Postage & Telegram 300 By Interest 1,800
To Sales promotion expenses 240 By Rent received 600
To Bad debts 600 By Dividend received on shares 180
To Audit fees 1,200 By Income from investments 120
To Depreciation on furniture sales office 600    
To Depreciation on furniture administrative office 1,200    
To Loss by fire 600    
To Loss by embezzlement 600    
To Salaries & Wages 12,000    
To Discount allowed 1,200    
To Commission 900    
To Carriage outward 600    
To Repairs & Maintenance 360    
To Travelling expenses 960    
To Water & electricity 720    
To Advertising & Publicity 2,400    
To Freight outward 300    
To Telephone expenses 600    
To Packing charges 300    
To Bank charges 240    
To Legal charges 600    
To Miscellaneous expenses 600    
To Loss on sales of fixed assets 300    
To Loss by theft 3,000    
To Net Profit c/d
(and transferred to capital a/c)		 10,440    
  48,000   48,000

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Also, Check out the solved question of all Chapters: –

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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. 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

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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)

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Chapter No. 18 – Financial Statements – (With Adjustments)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

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