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

Question No 13 Chapter No 18

Question No 13 Chapter No 18

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

       
Gross Profit 1,20,000 Discount Received 6,000
Rent 5,000 Printing and Stationery 4,000
Salary 35,000 Legal Charges 10,000
Commission Paid 19,000 Bad Debts 2,000
Interest on Loan 5,000 Loss by Fire 6,000
Advertisement 8,000 Depreciation 4,000
Interest Received 8,000    

 

 

The solution of Question No 13 Chapter No 18:-

 

Profit and Loss Account
for the year ended March 31, 2018
Particulars
Amount Particulars
Amount
To Rent   5,000 By Gross Profit   1,20,000
To Salary   35,000 By Interest Received   8,000
To Commission Paid   19,000 By 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: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

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. Grewals Double Entry Book Keeping - Question No 13 Chapter No 18 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.