Question No 15 Chapter No 15 – Unimax Class 11
Following is the Trial Balance of Venkat on 31st March,2020. Prepare Trading and Profit & Loss account for the year ended 31st March,2020.
| Particular | Debit (₹) |
Credit (₹) |
| Capital A/c | 10,00,000 | |
| Stock A/c (1.04.2019) | 2,00,000 | |
| Cash in bank | 1,00,000 | |
| Cash in hand | 44,000 | |
| Furniture and Fitting A/c | 1,36,000 | |
| Machinery A/c | 6,00,000 | |
| Purchases A/c | 15,00,000 | |
| Power and Fuel A/c | 3,00,000 | |
| Wages A/c | 10,00,000 | |
| Factory lighting A/c | 20,000 | |
| Advertising A/c | 5,00,000 | |
| Discount allowed | 50,000 | |
| Discount received A/c | 30,000 | |
| Salaries A/c | 7,00,000 | |
| Sundry office expense A/c | 4,00,000 | |
| Sales A/c | 50,00,000 | |
| Sundry debtors | 11,00,000 | |
| Sundry creditors | 3,70,000 | |
| Input IGST A/c | 4,50,000 | |
| Input CGST A/c | 1,50,000 | |
| Input SGST A/c | 1,50,000 | |
| Output IGST A/c | 5,00,000 | |
| Output CGST A/c | 2,50,000 | |
| Output SGST A/c | 2,50,000 | |
| TOTAL | 74,00,000 | 74,00,000 |
Value of closing stock as on 31st March,2020 was ₹ 2,70,000.
The solution of Question No 15 Chapter No 15 – UNIMAX Class 11
| Trading A/c VENKAT for the year ended 31st March, 2020 | |||||
| Particular |
Amount | Particular |
Amount | ||
| To Stock | 20,00,000 | By Sales | 50,00,000 | ||
| To Purchases | 15,00,000 | By Closing stock | 2,70,000 | ||
| To Wages | 10,00,000 | ||||
| To Power and fuel | 3,00,000 | ||||
| To Factory Lighting | 20,000 | ||||
| To Gross profit c/d | 22,50,000 | ||||
| (and transferred to profit & loss A/c) | |||||
| 52,70,000 | 52,70,000 | ||||
| To Salaries | 7,00,000 | By Gross Profit b/d | 22,50,000 | ||
| To Discount allowed | 50,000 | By Discount received | 30,000 | ||
| To advertising | 5,00,000 | ||||
| To Sundry office expenses | 4,00,000 | ||||
| To Net profit c/d | 6,30,000 | ||||
| (and transferred to capital A/c) | |||||
| 22,80,000 | 22,80,000 | ||||
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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
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
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
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Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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