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Question no 19 Chapter No 17 – Unimax Class 11

Question no 19 Chapter no 17 unimax class11
Question no 19 Chapter no 17 unimax class11

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Question No 19 Chapter No 17 – Unimax Class 11

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Jiya keeps in complete records. During the year 2019-20 he kept a cash book of which the following is an analysis:
Receipts: Received from Debtors ₹ 60,000; Cash sales ₹ 30,000; Additional capital introduced ₹ 60,000; Interest on investments ₹ 4,000.
Payments: Paid to Creditors ₹ 40,000; Salaries ₹ 10,000; Rent ₹ 7,000; General expenses ₹ 6,000; Wages ₹ 20,000; Drawings ₹ 9,000; Cash purchases ₹ 15,000.
His other Assets and Liabilities:

 31-3-201931-3-2020
Debtors10,00012,000
Creditors10,0005,000
Stock22,00030,000
Machinery90,00090,000
Furniture12,00012,000
Cash in hand9,000 
Investments30,00030,000

Adjustments:

(1) Provide 5% on debtors for doubtful debts.
(2) Outstanding salary ₹ 750.
From the above information, prepare the Trading & Profit and Loss A/c for the year ended 31st March, 2020 and Balance Sheet as at that date.

The solution of Question No 19 Chapter No 17 – UNIMAX Class 11

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Cash book

Receipts AmountPaymentsAmount
To Balance b/d (1-4-2019)9,000By Payments to Creditors40,000
To Receipts from debtors60,000By Salaries10,000
To Cash sales30,000By Rent7,000
To Additional capital60,000By General expenses6,000
To Interest on Investments4,000By Wages20,000
  By Drawings9,000
  By Cash Purchases15,000
  By Balance c/d (balance figure on 31-3-2020)56,000
 1,63,000 1,63,000

Total Debtors A/c

Particulars AmountParticulars Amount
To Balance b/d (1-4-2019)10,000By cash received from debtors60,000
To Credit sales (Balance figure)62,000By Balance c/d (31-3-2020)12,000
 72,000 72,000

Total Creditors A/c

Particulars AmountParticularsAmount
To Cash paid to creditors40,000By Balance b/d (1-4-2019)10,000
To Balance c/d (31-3-2020)5,0000To Creditors purchases (Balance figure)35,000
 45,000 45,000

Opening Balance Sheet
As at 1st April 2019

Liabilities AmountAssetsAmount
Creditors10,000Cash in hand9,000
Capital (Balance figure)1,63,000Debtors10,000
  Stock22,000
  Investments30,000
  Furniture12,000
  Machinery90,000
 1,73,000 1,73,000

Trading and Profit and Loss A/c
For the year ending 31st March, 2020 

Particulars
AmountParticulars
Amount
To Opening stock 22,000By Sales:  
To Purchases:  Cash sales30,000 
Cash purchases15,000 Credit sales62,00092,000
Credit purchases35,00050,000By Closing stock 30,000
To Wages 20,000   
To Gross Profit c/d 30,000   
  1,22,000  1,22,000
To Salaries10,000 By Gross Profit B/d 30,000
Add: Outstanding75010,750By Interest on Investments 4,000
To Rent 7,000   
To General expenses 6,000   
To Provision for doubtful debts 600   
To Net profit 9,650   
  34,000  34,000

Balance Sheet
As at 31st March, 2020

Liabilities AmountAssetsAmount
Creditors 5,000Cash in hand 56,000
Outstanding salary 750Debtors12,000 
Capital1,63,000 Less: provision for doubtful debts60011,400
Add: Additional capital60,000 Stock 30,000
Add: Net Profit9,650 Investments 30,000
Less: Drawing9,0002,23,650Furniture 12,000
   Machinery 90,000
  2,29,400  2,29,400

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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

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. 1 – Introduction

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Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

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Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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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)

Chapter No. 18 – Financial Statements – (With Adjustments)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication4

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