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Question no 12 Chapter No 15 – Unimax Class 11

By Rajwinder Kaur 8 Min Read April 6, 2023

Question No 12 Chapter No 15 - UNIMAX Class 11

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Question No 12 Chapter No 15 – Unimax Class 11

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Table of Contents

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

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

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Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Chapter No. 1 – Introduction of Accounting
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and Transactions
Chapter No. 4 – Journal
Chapter No. 5 – Goods and Services Tax (GST): An Introduction
Chapter No. 6 – Ledger
Chapter No. 7 – Special Purpose Book – Cash Book
Chapter No. 8 – Other Subsidiary Books
Chapter No. 9 – Trial Balance
Chapter No. 10 – Rectification of Errors
Chapter No. 11 – Depreciation
Chapter No. 12 – Provision and Reserves
Chapter No. 13 – Bank Reconciliation Statement
Chapter No. 14 – Bills of Exchange

Students may choose only one part from the Part II and Part III

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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

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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

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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

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Chapter No. 17 – Financial Statements – (Without Adjustments)

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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Rajwinder Kaur April 9, 2023

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