Question No 15 Chapter No 18 – T.S. Grewal 11 Class

Question No 15 Chapter No 18

Question No 15 Chapter No 18

15. From the following information, prepare Balance Sheet of a trader as at 31st March, 2018 arranging the assets and liabilities–i in order of permanence and ii in order of liquidity:

       
Goodwill 20,000 Bank 20,000
Capital 1,80,000 Sundry Creditors 63,000
Liabilities for Expenses 1,200 Bills Receivable 13,000
Cash in Hand 1,000 Plant and Machinery 40,000
Investment 20,000 Provision for Doubtful Debts 2,500
Bills Payable 10,700 Closing Stock 80,000
Net Profit 92,600 Furniture 16,000
Sundry Debtors 50,000 Drawing 30,000
Land and Building 60,000    

 

 

The solution of Question No 15 Chapter No 18:-

I Balance Sheet in Order of Permanence B

Balance Sheet
as on March 31, 2018
Liabilities
Amount Assets
Amount
Capital 1,80,000   Goodwill   20,000
Less: Drawings 30, 000   Land and Building   60,000
Add: Net Profit 92,600 2,42,600 Plant and Machinery   40,000
Sundry Creditors   63,000 Furniture   16,000
Bills Payable   10,700 Investment   20,000
Liabilities for Expenses   1,200 Closing Stock   80,000
      Sundry Debtors 50,000  
      Less: Provision for Doubtful Debts 2, 500 47,500
      Bill Receivable   13,000
      Bank   20,000
      Cash in Hand   1,000
    3,17,500     3,17,500



II Balance Sheet in Order of Liquidity

Balance Sheet
as on March 31, 2018
Liabilities
Amount Assets
Amount
Liabilities for Expenses   1,200 Cash in Hand   1,000
Bills Payable   10,700 Bank   20,000
Sundry Creditors   63,000 Bills Receivable   13,000
Capital 1,80,000   Sundry Debtor 50,000  
Less: Drawings 30, 000   Less: Provision for Doubtful Debts 2, 500 47,500
Add: Net Profit 92,600 2,42,600 Closing Stock   80,000
      Investment   20,000
      Furniture   16,000
      Plant and Machinery   40,000
      Land and Building   60,000
      Goodwill   20,000
    3,17,500     3,17,500

 

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 15 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.