Question No 12 Chapter No 19

Question No 12 Chapter No 19

12.Prepare Profit and Loss Account for the year ended 31st March, 2017 from the following particulars:-

Particulars Particulars 
General expenses12,000Gross profit7,69,000
Charity3,000Carriage Outwards20,000
Office Lighting5,000Office Expenses16,000
Law Charges5,800Fire Insurance Premium18,000
Advertisement14,200Telephone Expenses13,500
Bank charges1,200Establishment expenses2,500
Commission7,000Miscellaneous Expenses7,100
Rent, Rates and Taxes30,000Discount Received6,200
Interest on investments12,000Traveler’s salary60,000
Sundry Receipts6,000Repair4,300
Indirect expenses2,100Commission Cr2,000
Printing and Stationery1,500  

The solution of Question No 12 Chapter No 19: –

Profit & Loss Account
To General Expenses 12,000By Gross Profit 7,69,000
To Charity 3,000By Interest on Investments 12,000
To Office Lighting 5,000By Sundry Receipts 6,000
To Law Charges 5,800By Discount Received 6,200
To Advertisement 14,200By Commission Received 2,000
To Bank Charges 1,200   
To Commission 7,000   
To Rent, Rates and Taxes 30,000   
To Indirect Expenses 2,100   
To Printing & Stationery 1,500   
To Carriage Outwards 20,000   
To Office Expenses 16,000   
To Fire Insurance Premium 18,000   
To Telephone Expenses 13,500   
To Establishment Expenses 2,500   
To Miscellaneous Expenses 7,100   
To Traveler’s Salary 60,000   
To Repair 4,300   
To Net Profit 5,72,000   
  7,95,200  7,95,200

Trading Account: Meaning, Format and Examples

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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ISC Accounts 11 20 Image min 197x300 - Question No 12 Chapter No 19 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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