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

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

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Question No 18 Chapter No 18

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18. From the following balances, prepare Trading and Profit and Loss Account and Balance Sheet:

Debit Balances: Debit Balances 
Machinery3,50,000Rent45,000
Debtors2,70,000Sundry Expenses20,000
Drawings90,000Carriage15,000
Purchases9,50,000Credit Balances: 
Wages5,00,000Capital10,00,000
Bank1,50,000Creditors1,40,000
Opening Stock2,00,000Sales14,50,000

Closing Stock was valued at 30,000

 

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The solution of Question No 18 Chapter No 18:-

 

Trading Account
Particular
AmountParticular
Amount
To Opening Stock 2,00,000By Sales 14,50,000
To Purchases 9,50,000By Closing Stock 2,00,000
To Wages 5,00,000   
To Carriage Inwards 15,000   
   By Gross Loss 1,85,000
  16,65,000  16,65,000

 

Profit and Loss Account
Particular
AmountParticular
Amount
To Gross Loss 60,000   
To Rent 20,000   
To Sundry Expenses 50,000   
      
   By Net Loss 2,50,000
  2,50,000  2,50,000

 

Balance Sheet
Particular
AmountParticular
Amount
Capital10,00,000 Machinery 3,50,000
Less: Drawings90, 000 Closing Stock 30,000
Less: Net Loss2, 50,0006,60,000Debtors 2,70,000
Creditors 1,40,000Bank 1,50,000
      
  8,00,000  8,00,000

 

 

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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 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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