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Question No 13 Chapter No 18 – T.S. Grewal 11 Class

Question No 13 Chapter No 18
Question No.13 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

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Question No 13 Chapter No 18

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13. From the following information, prepare Profit and Loss Account for the year ended 31st March, 2018:

    
Gross Profit1,20,000Discount Received6,000
Rent5,000Printing and Stationery4,000
Salary35,000Legal Charges10,000
Commission Paid19,000Bad Debts2,000
Interest on Loan5,000Loss by Fire6,000
Advertisement8,000Depreciation4,000
Interest Received8,000  

 

 

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The solution of Question No 13 Chapter No 18:-

 

Profit and Loss Account
for the year ended March 31, 2018
Particulars
AmountParticulars
Amount
To Rent 5,000By Gross Profit 1,20,000
To Salary 35,000By Interest Received 8,000
To Commission Paid 19,000By Discount Received 6,000
To Interest on Loan 5,000   
To Advertisement 8,000   
To Printing and Stationer 4,000   
To Legal Charges 10,000   
To Bad Debts 2,000   
To Loss by Fire 6,000   
To Depreciation 4,000   
To Net Profit 36,000   
  1,34,000  1,34,000



Final Accounts: Meaning, Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

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

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication

T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

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