Question No 17 Chapter No 15 – Unimax Class 11
Prepare Trading Profit and Loss Account and Balance Sheet as on March 31,2020
| Account Title | ₹ | Account Title | ₹ |
| Machinery | 27,000 | Capital | 60,000 |
| Sundry debtors | 21,600 | Bills payable | 2,800 |
| Drawing | 2,700 | Sundry creditors | 1,400 |
| Purchases | 58,500 | Sales | 73,500 |
| Wages | 15,000 | ||
| Rent and Taxes | 1,350 | ||
| Carriage inwards | 450 | ||
| Bank | 4,500 | ||
| Opening stock | 6,000 |
Closing stock as on 31st March, 2020 ₹ 22,400.
The solution of Question No 17 Chapter No 15 – UNIMAX Class 11
| Trading A/c, Profit & Loss A/c as on 31st March, 2020 | |||||
| Particular |
Amount | Particular |
Amount | ||
| To Opening stock | 6,000 | By Sales | 73,500 | ||
| To Purchases | 58,500 | By Closing stock | 22,400 | ||
| To Wages | 15,000 | ||||
| To Carriage inwards | 450 | ||||
| To Factory Lighting | 20,000 | ||||
| To Gross profit c/d | 15,950 | ||||
| (Transferred to P & L A/c) | |||||
| 95,900 | 95,900 | ||||
| To Sundry expenses | 600 | By Gross Profit b/d | 15,950 | ||
| To Rent and Taxes | 1,350 | ||||
| To Net profit c/d (and transferred to capital A/c) |
14,000 | ||||
| 15,950 | 15,950 | ||||
| balance sheet as on 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 60,000 | Machinery | 27,000 | ||
| Add net profit | 14,000 | Sundry debtors | 21,600 | ||
| Less drawings | 2,700 | 71,300 | Bank | 4,500 | |
| Bill payable | 2,800 | Closing stock | 22,400 | ||
| Sundry creditors | 1,400 | Closing stock | 51,000 | ||
| Total | 75,500 | 75,500 | |||
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Final Accounts: Meaning, Definition and Explanation
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
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Balance Sheet: Meaning, Format & Examples
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
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Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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
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Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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