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Question No 21 Chapter No 18 – T.S. Grewal 11 Class

Question No 21 Chapter No 18
Question No.21 - Chapter No.18- T.S. Grewal +1 Book 2019-Solution

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Question No 21 Chapter No 18

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21. From the following balances, prepare Final Accounts of M./s. Raja & Sons for the year ended 31st March, 2018:
Salary 5,400; Insurance 2,500; Cash 400; Purchases 84,170; Rent Received 3,150; Drawings 2,100; Bills Payable 3,900; Debtors 38,080; Stock 1stApril, 2017 29,500; Bank Overdraft 9,700; Carriage 2,200; Creditors 4,200; Trade Expenses 4,900; Sales Return 4,700; Machinery 12,000; Wages 45,000; Sales 1,47,200; Purchases Return 3,900; Capital 58,900; Closing Stock 31stMarch, 2018 36,200

 

The solution of Question No 21 Chapter No 18:-

Financial Statement of M/s. Raja & Sons

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Trading Account
for the year ended March 31, 2018
Particular
AmountParticular
Amount
To Opening Stock 29,500By Sales1,47,200 
To Purchases84,170 Less : Return inward4,7001,42,500
Less: Return Outwards3, 90080,270By Closing Stock 36,200
To Carriage 2,200   
To Wages 45,000   
To Gross Profit 21,730   
  1,78,700  1,78,700

Profit and Loss Account
for the year ended March 31, 2018
Particular
AmountParticular
Amount
To Salaries 5,400By Gross Profit 21,730
To Insurance 2,500By Rent Received 3,150
To Trade Expenses 4,900   
To Net Profit 12,080   
  24,880  24,880

 

Balance Sheet
Particular
AmountParticular
Amount
Capital58,900 Machinery 12,000
Add: Net Profit12,080 Closing Stock 36,200
Less: Drawings2, 10068,880Debtors 38,080
Creditors 4,200Cash 400
Bank Overdraft 9,700   
Bills Payable 3,900   
  86,680  86,680

 

 

Final Accounts: Meaning, Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

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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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