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Question No 26 Chapter No 15 – Unimax Class 11
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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 | |||
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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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