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Question No 13 Chapter No 15 – Unimax Class 11
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The following is the Trial Balance of Raj & Co. as at 31st March,2020:
| Particular | L.F. | Debit (₹) | Credit (₹) |
| Cash | 12,000 | ||
| Bank | 90,100 | ||
| Purchases/ Sales | 2,10,000 | 7,10,000 | |
| Investments | 1,22,600 | ||
| Returns | 70,000 | 89,000 | |
| Carriage inward | 35,000 | ||
| Carriage outward | 40,000 | ||
| Salaries | 1,44,000 | ||
| Commission | 21,000 | 500 | |
| Interest | 20,000 | 1,000 | |
| Wages | 25,000 | ||
| Opening stock | 1,50,000 | ||
| Machinery | 1,00,000 | ||
| Stationery | 800 | ||
| Outstanding expenses | 1,000 | ||
| Drawings | 48,000 | ||
| Freight outward | 20,000 | ||
| Depreciation | 5,000 | ||
| Debtors/Creditors | 80,000 | 77,000 | |
| Loan(short term) | 15,000 | ||
| Capital | 3,00,000 | ||
| 11,93,500 | 11,93,600 |
Closing stock as on March 31, 2020 stood at ₹ 15,000. Prepare Trading and Profit & Loss A/c for the year ended March 31,2020.
The solution of Question No 13 Chapter No 15 – UNIMAX Class 11
| Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020 | |||||
| Particular | Amount | Particular | Amount | ||
| To Opening stock | 1,50,000 | By Sales | 70,10,000 | ||
| To Purchases | 2,10,00 | Less return | 70,000 | 6,40,000 | |
| Less return | 89,000 | 1,21,000 | By Closing stock | 15,000 | |
| To Carriage | 35,000 | ||||
| To Wages | 25,000 | ||||
| To Gross profit c/d (and transferred to P&L a/c) | 3,24,000 | ||||
| 6,55,000 | 6,55,000 | ||||
| To Carriage outwards | 40,000 | By Gross profit b/d | 3,24,000 | ||
| To Salaries | 1,44,000 | by Commission | 500 | ||
| To Commission | 21,000 | By Interest | 1,000 | ||
| To Interest | 20,000 | ||||
| To Freight outward | 20,000 | ||||
| To Depreciation | 5,000 | ||||
| To Stationery | 800 | ||||
| To Net profit (and transferred to capital) | 74,700 | ||||
| 3,25,500 | 3,25,500 | ||||
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Final Accounts: Meaning, 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: –
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
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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
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Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
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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