Question no 26 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 6, 2023
Question No 26 Chapter No 15- Unimax Class 11
Question No 26 Chapter No 15- Unimax Class 11

Question No 26 Chapter No 15 – Unimax Class 11

Prepare Trading and profit and loss account from the following Particulars of M/s Neema Traders as on March 31,2020:

Particular Debit
(₹)		 Credit
(₹)
Buildings 23,000  
Sales   1,80,000
Plant 16,930  
Loan   8,000
Carriage inwards 1,000  
Bill payable   2,520
Wages 3,300  
Bank overdraft   4,720
Purchases 1,64,000  
Creditors   8,000
Sales returns 1,820  
Capital   2,36,000
Opening stock 9,000  
Purchases returns   1,910
Machinery 2,10,940  
Insurance 1,610  
Interest 1,100  
Bad debts 250  
Postage 300  
Discount 1,000  
Salaries 3,000  
Debtors 3,900  

Stock on March 31, 2020 ₹ 16,000.

The solution of Question No 26 Chapter No 15 – UNIMAX Class 11

Trading A/c, Profit & Loss A/C of M/S Neema traders as on  31st March, 2020
Particular
 Amount Particular
 Amount
To Opening stock   9,000 By Sales 1,80,000  
To Purchases 1,64,000   Less return  1,820 1,78,180
Less return  1,910  1,62,090 By Closing stock 16,000
To Carriage inwards 1,000    
To wages 3,300    
To Gross profit c/d   18,790      
(and transferred to P & L A/c)          
    1,94,180     1,94,180
To Insurance   1,610 By Gross Profit b/d   18,790
To Interest   1,100      
To Bad debts   250      
To Postage   300      
To Discount   1,000      
To salaries   3,000      
To Net Profit c/d   11,530      
(and transferred to Capital a/c)          
    18,790     18,790

Balance sheet AS ON31st March, 2020
Liabilities Amount Assets Amount
Capital 2,36,000   S. Debtors   3,900
Add Net Profit 11,530 2,47,530 Building   23,000
S. Creditors   8,000 Plant 16,930
Bank overdraft   4,720 Machinery   2,10,940
Loan   8,000 Closing stock   16,000
Bills Payable   2,520      
TOTAL   2,70,770     2,70,770

Thanks, Please Like and share with your friends  

Comment if you have any Doubts.

Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Advertisement-X

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)

Advertisement-X

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 

Advertisement-X

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

Advertisement

error: Content is protected !!