Question no 23 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 6, 2023
Question No 23 Chapter No 15 - Unimax Class 11
Question No 23 Chapter No 15 - Unimax Class 11

Question No 23 Chapter No 15 – Unimax Class 11

The following is the Trial Balance of Rishi Trading Co. on 31st March, 2020.

Particular Debit
(₹)		 Credit
(₹)
Machinery 1,02,000  
Land and building 8,60,000  
Investment 70,000  
Bad debts 3,000  
Sundry debtors 40,000  
Purchases 3,09,800  
Stock on 1st April 2019 23,000  
Interest 3,500  
Bills payable   6,750
Sundry creditors   80,000
Travelling expenses 700  
Trade expenses 5,000  
Discount 1,250 2,625
Purchases returns   9,850
Sales returns 6,775  
Bills receivable 2,275  
Capital   10,25,000
Sales   3,75,775
Mobile phone bills 6,000  
Postage 1,200  
Wages and salaries 12,000  
Salaries and wages 51,000  
Carriage 2,500  
  15,00,000 15,00,000

The closing stock was valued at ₹ 9,000. You are required to prepare Trading and Profit & Loss account and the balance sheet as 31st March,2020.

The solution of Question No 23 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   23,000 By Sales 3,75,775  
To Purchases 3,09,800   Less return  6,775 3,69,000
Less return  9,850  2,99,950 By Closing stock 9,000
To Wages and salaries 12,000    
To Carriage 2,500    
To Gross profit c/d   40,550      
(and transferred to P & L A/c)          
    3,78,000     3,78,000
To Bad debts   3,000 By Gross Profit b/d   40,550
To Interest   3,500 By Discount   2,625
To Travelling expenses   700 By Net Loss c/d   28,475
To Trade expenses   5,000 (and transferred to Capital)    
To Discount   1,250      
To Mobile phone bills   6,000      
To Postage   1,200      
To Salaries and wages   51,000      
    71,650     71,650

 

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

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Balance Sheet: Meaning, Format & Examples

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

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Chapter No. 6 – Accounting for Goods and Services Tax(GST)

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

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Chapter No. 16 – Rectification of Errors 

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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