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Question no 13 Chapter No 16 – Unimax Class 11

Question No 13 Chapter No 16 - UNIMAX Class 11
Question No 13 Chapter No 16 - UNIMAX Class 11

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Question No 13 Chapter No 16 – Unimax Class 11

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                Extracts of Trial Balance as at 31.3.2020  
ParticularsDebitCredit
Interest on loan40,000 
Loan from Punjab National Bank 10% p.a. 6,00,000

Adjustment: loan was taken on 1.4.2019. give necessary entry and show how it will appear in final accounts.

The solution of Question No 13 Chapter No 16 – UNIMAX Class 11

Journal
DateParticulars
L.F.DebitCredit
31.3.2020Interest on loan A/cDr. 20,000 
  To outstanding interest A/c   20,000
 (Being interest due to loan)     

 

            Profit & Loss A/c
              for the year ended 31st March,2020
 
Particulars
AmountParticularsAmount
To Interest on loan40,000    
Add: Outstanding interest20,000 60,000  
          Balance Sheet
         As at 31st March, 2020 
 
Liabilities AmountAssetsAmount
Loan from Punjab National Bank @ 10% p.a. 6,00,000  
Outstanding interest 20,000  

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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

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Chapter No. 4 – Vouchers and transactions

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

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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

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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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