Question No 12 Chapter No 16 – Unimax Class 11
At the end for the financial year the capital a/c of Shri Ram Chander is ₹ 20,000 and this drawings are ₹ 2,000. Allow 10% interest on capital and 4% . interest on drawings.
Make Journal entries and show P and L A/c & Balance sheet.
The solution of Question No 12 Chapter No 16 – UNIMAX Class 11
| Journal | ||||||
| Date | Particulars | L.F. | Debit | Credit | ||
| Interest A/c | Dr. | 2,000 | ||||
| To Capital A/c | 2,000 | |||||
| (Being interest allowed on capital) | ||||||
| Drawing A/c | Dr. | 80 | ||||
| To Interest A/c | 80 | |||||
| (Being for interest charged on drawings) | ||||||
| Profit & Loss A/c | |||||
| Particulars | Amount | Particulars | Amount | ||
| To interest on Capital | 2,000 | By Interest on Drawing | 80 | ||
| BALANCE SHEET | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 20,000 | ||||
| Add: interest | 2,000 | ||||
| Less: Drawings | 2,000 | ||||
| Less: Interest | 80 | 19,920 | |||
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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
- 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
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. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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)
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