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Question No 19 Chapter No 18 – T.S. Grewal 11 Class

Question No 19 Chapter No 18
Question No.19 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

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Question No 19 Chapter No 18

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19.The following are the balances as on 31st March, 2018 extracted from the books of Dass:

    
Sales9,20,000Postage and Courier6,200
Purchases6,83,000Miscellaneous Expenses9,000
Returns Inward13,000Bad Debts4,000
Returns Outward22,000Debtors2,20,000
Stock on 1st April, 20171,76,000Creditors1,28,000
Carriage Inwards24,000Loan from Sahil50,000
Rent22,000Capital5,25,000
Discount37,500Drawings19,100
Printing7,200Business Premises3,90,000
Insurance5,000Office Furniture15,000
Travelling Expenses14,000  

The stock on 31st March, 2018 was valued at 2,40,000.
You are required to prepare Trading Account, Profit and Loss Account and Balance Sheet as at 31st March, 2018.

 

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The solution of Question No 19 Chapter No 18:-

Financial Statement of Bhagwan Das

Trading Account
for the year ended March 31, 2018
Particular
AmountParticular
Amount
To Stock 1,76,000By Sales9,20,000 
To Purchases6,83,000 Less : Return inward13, 0009,07,000
Less: Return Outwards22, 0006,61,000By Closing Stock 2,40,000
To Carriage Inwards 24,000   
To Gross Profit 2,86,000   
  11,47,000  11,47,000

 

Profit and Loss Account
for the year ended March 31, 2018
Particular
AmountParticular
Amount
To Rent, Rates and Taxes 22,000By Gross Profit 2,86,000
To Discount 37,500   
To Printing 7,200   
To Insurance 5,000   
To Travelling Expenses 14,000   
To Postage and Courier 6,200   
To Miscellaneous Expenses 9,000   
To Bad Debts 4,000   
To Net Profit 1,81,100   
  2,86,000  2,86,000

 

Balance Sheet
Particular
AmountParticular
Amount
Capital5,25,000 Business Premises 3,90,000
Less: Drawings19, 100 Office Furniture 15,000
Add: Net Profit1,81,1006,87,000Closing Stock 2,40,000
Loan from Sahil 50,000Debtors 2,20,000
Creditors 1,28,000   
  8,65,000  8,65,000

 

 

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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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