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

Question No 15 Chapter No 18
Question No.15 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

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Question No 15 Chapter No 18

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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:

    
Goodwill20,000Bank20,000
Capital1,80,000Sundry Creditors63,000
Liabilities for Expenses1,200Bills Receivable13,000
Cash in Hand1,000Plant and Machinery40,000
Investment20,000Provision for Doubtful Debts2,500
Bills Payable10,700Closing Stock80,000
Net Profit92,600Furniture16,000
Sundry Debtors50,000Drawing30,000
Land and Building60,000  

 

 

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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
AmountAssets
Amount
Capital1,80,000 Goodwill 20,000
Less: Drawings30, 000 Land and Building 60,000
Add: Net Profit92,6002,42,600Plant and Machinery 40,000
Sundry Creditors 63,000Furniture 16,000
Bills Payable 10,700Investment 20,000
Liabilities for Expenses 1,200Closing Stock 80,000
   Sundry Debtors50,000 
   Less: Provision for Doubtful Debts2, 50047,500
   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
AmountAssets
Amount
Liabilities for Expenses 1,200Cash in Hand 1,000
Bills Payable 10,700Bank 20,000
Sundry Creditors 63,000Bills Receivable 13,000
Capital1,80,000 Sundry Debtor50,000 
Less: Drawings30, 000 Less: Provision for Doubtful Debts2, 50047,500
Add: Net Profit92,6002,42,600Closing 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: 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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