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

Question No 19 Chapter No 18

Question No 19 Chapter No 18

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

       
Sales 9,20,000 Postage and Courier 6,200
Purchases 6,83,000 Miscellaneous Expenses 9,000
Returns Inward 13,000 Bad Debts 4,000
Returns Outward 22,000 Debtors 2,20,000
Stock on 1st April, 2017 1,76,000 Creditors 1,28,000
Carriage Inwards 24,000 Loan from Sahil 50,000
Rent 22,000 Capital 5,25,000
Discount 37,500 Drawings 19,100
Printing 7,200 Business Premises 3,90,000
Insurance 5,000 Office Furniture 15,000
Travelling Expenses 14,000    

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.

 

The solution of Question No 19 Chapter No 18:-

Financial Statement of Bhagwan Das

Trading Account
for the year ended March 31, 2018
Particular
Amount Particular
Amount
To Stock   1,76,000 By Sales 9,20,000  
To Purchases 6,83,000   Less : Return inward 13, 000 9,07,000
Less: Return Outwards 22, 000 6,61,000 By 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
Amount Particular
Amount
To Rent, Rates and Taxes   22,000 By 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
Amount Particular
Amount
Capital 5,25,000   Business Premises   3,90,000
Less: Drawings 19, 100   Office Furniture   15,000
Add: Net Profit 1,81,100 6,87,000 Closing Stock   2,40,000
Loan from Sahil   50,000 Debtors   2,20,000
Creditors   1,28,000      
    8,65,000     8,65,000

 

 

Final Accounts: 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. Grewals Double Entry Book Keeping - Question No 19 Chapter No 18 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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