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Question No 21 Chapter No 15 – Unimax Class 11
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The following is the trial balance on March 31,2020. You are required prepare Trading and Profit & Loss account and a Balance sheet as on that date:
| Account title | Debit (₹) | Credit (₹) |
| Opening stock | 10,000 | |
| Purchases and Sales | 40,000 | 80,000 |
| Return | 200 | 600 |
| Productive wages | 6,000 | |
| Dock and clearing charges | 4,000 | |
| Donation and charity | 600 | |
| Delivery and expenses | 6,000 | |
| Lighting | 500 | |
| Sales tax collected | 1000 | |
| Bad debts | 600 | |
| Misc. income | 6,000 | |
| Rent from Tenants | 2,000 | |
| Royalty | 4,000 | |
| Capital | 40,000 | |
| Drawings | 2,000 | |
| Cash | 3,700 | |
| Investment | 6,000 | |
| Patents | 4,000 | |
| Land and Machinery | 43,000 | |
| 1,36,600 | 1,36,600 |
Closing stock ₹ 2,000.
The solution of Question No 21 Chapter No 15 – UNIMAX Class 11
| Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020 | |||||
| Particular | Amount | Particular | Amount | ||
| To Opening stock | 10,000 | By Sales | 80,000 | ||
| To Purchases | 40,000 | Less Returns | 200 | 79,800 | |
| Less return | 600 | 39,400 | By Closing stock | 2,000 | |
| To Dock and clearing charges | 4,000 | ||||
| To Productive wages | 6,000 | ||||
| To Royalty | 4,000 | ||||
| To Gross profit c/d | 18,400 | ||||
| (and transferred to P & L A/c) | |||||
| 81,800 | 81,800 | ||||
| To Donation and charity | 600 | By Gross Profit b/d | 18,400 | ||
| To Delivery and expenses | 6,000 | By Misc. income | 6,000 | ||
| To Lighting | 500 | By Rent from Tenants | 2,000 | ||
| To Bad debts | 600 | ||||
| To Net profit c/d | 18,700 | ||||
| (and transferred to capital A/c) | |||||
| 26,400 | 26,400 | ||||
BALANCE SHEET AS ON 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 40,000 | Debtors | 6,000 | ||
| Add net profit | 18,700 | Cash | 3,700 | ||
| Less Drawing | 2,000 | 56,700 | Investments | 6,000 | |
| Creditors | 7,000 | Patents | 4,000 | ||
| Sales Tax collected | 1,000 | Land & Machinery | 43,000 | ||
| Closing stock | 2,000 | ||||
| 64,700 | 64,700 | ||||
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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: –
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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
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Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
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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
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Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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