Question no 21 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 6, 2023
Question No 21 Chapter No 15 - Unimax Class 11
Question No 21 Chapter No 15 - Unimax Class 11

Question No 21 Chapter No 15 – Unimax Class 11

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

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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

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)

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Chapter No. 7 – Ledger

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

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

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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

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