Question No 16 Chapter No 15 – Unimax Class 11
From the following information, prepare a balance sheet of Mr. X as at 31st March, 2020 (a) in order of Liquidity, and (b) in order of permanence.
| Particular | ₹ | Particular | ₹ |
| Plant & Machinery | 60,000 | Furniture and fixtures | 12,000 |
| Prepaid expenses | 600 | Accrued income | 1,200 |
| Income received in advance | 1,200 | Outstanding expenses | 600 |
| Bills payable | 1,800 | Bills receivable | 1,200 |
| Sundry debtors | 60,000 | Sundry creditors | 59,400 |
| Bank overdraft | 6,000 | Investment in shares of X Ltd. | 6,000 |
| Loan form bank | 60,000 | Closing stock | 51,000 |
| Capital | 1,20,000 | Building | 6,000 |
| Land | 6,000 | Good will | 6,000 |
| Drawings | 6,000 | Net profit | 30,000 |
| Cash in hand | 3,000 | Cash at bank | 6,000 |
The solution of Question No 16 Chapter No 15 – UNIMAX Class 11
| BALANCE SHEET OF MR.X AS ON 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Pre-received income | 1,200 | Plant & Machinery | 60,000 | ||
| Bills payable | 1,800 | Prepaid expense | 600 | ||
| Bank overdraft | 6,000 | Sundry debtors | 60,000 | ||
| Long term loan from bank | 60,000 | Land | 6,000 | ||
| Capital | 1,20,000 | Cash in hand | 3,000 | ||
| Add net profit | 30,000 | Furniture & Fixture | 12,000 | ||
| Less drawings | 6,000 | 1,44,000 | Bills receivable | 1,200 | |
| Outstanding expenses | 600 | Investment in shares of X ltd | 6,000 | ||
| Sundry creditors | 59,400 | Closing stock | 51,000 | ||
| Building | 60,000 | ||||
| Goodwill | 6,000 | ||||
| Cash at bank | 6,000 | ||||
| Accrued income | 1,200 | ||||
| TOTAL | 2,73,000 | 2,73,000 | |||
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Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
Also, Check out the solved question of all Chapters: –
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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
Chapter No. 17 – Financial Statements – (Without Adjustments)
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Chapter No. 18 – Financial Statements – (With Adjustments)
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