Advertisement
Question No 19 Chapter No 15 – Unimax Class 11
Advertisement
From the following Trial Balance prepare a Trading and a Profit and Loss account for the year ending 31st March,2020 and a balance sheet as on that date:
| Particulars | ₹ | Particulars | ₹ |
| Debit balance | Rent, Rates and taxes | 4,800 | |
| Sundry debtors | 9,000 | Salaries | 12,000 |
| Stock 1st April,2019 | 30,000 | Drawings | 12,000 |
| Land and Buildings | 60,000 | Purchases | 60,000 |
| Cash in hand | 9,600 | Office expenses | 15,000 |
| Cash at bank | 24,000 | Plant & Machinery | 34,200 |
| Wages | 18,000 | Credit Balances | |
| Bills Receivable | 12,000 | Capital | 1,50,000 |
| Interest | 1,200 | Interest | 3,600 |
| Bad debts | 3,000 | Sundry creditors | 42,000 |
| Repairs | 1,800 | Sales | 1,02,000 |
| Furniture and fixtures | 9,000 | Bills Payable | 24,000 |
| Depreciation | 6,000 |
On 31st March,2020 the stock was valued at ₹ 60,000.
The solution of Question No 19 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 | 30,000 | By Sales | 1,02,000 |
| To wages | 18,000 | By Closing stock | 60,000 |
| To Purchases | 60,000 | ||
| To Gross profit c/d (and transferred to profit & loss A/c) | 54,000 | ||
| 1,62,000 | 1,62,000 | ||
| To interest | 1,200 | By Gross Profit b/d | 54,000 |
| To Bad debts | 3,000 | Interest | 3,600 |
| To Repairs | 1,800 | ||
| To Depreciation | 6,000 | ||
| To Rent, Rates and taxes | 4,800 | ||
| To Salaries | 12,000 | ||
| To Office expenses | 15,000 | ||
| To Net profit c/d (and transferred to capital A/c) | 13,800 | ||
| 57,600 | 57,600 | ||
| Balance sheet as on31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 1,50,000 | Sundry debtors | 9,000 | ||
| Add net profit | 13,800 | Land and Buildings | 60,000 | ||
| Less drawings | 12,000 | 1,51,800 | Cash in hand | 9,600 | |
| Sundry creditors | 42,000 | Cash at bank | 24,000 | ||
| Bill payable | 24,000 | Bills Receivable | 12,000 | ||
| Plant & Machinery | 34,200 | ||||
| Furniture and fixtures | 9,000 | ||||
| Closing stock | 60,000 | ||||
| Total | 2,17,800 | 2,17,800 | |||
Thanks, Please Like and share with your friends
Comment if you have any Doubts.
Advertisement-X
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: –
Advertisement-X
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
Advertisement-X
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Advertisement-X
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
Advertisement-X
Advertisement-Y
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication