Question no 27 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 6, 2023
Question No 27 Chapter No 15 - Unimax Class 11
Question No 27 Chapter No 15 - Unimax Class 11

Question No 27 Chapter No 15 – Unimax Class 11

From the following trial balance, prepare Trading, Profit & Loss account and Balance sheet as on March 31,2020:

Particular Debit
(₹)		 Credit
(₹)
Stock as on April 1,2019 16,000  
Purchases and sales 67,600 1,12,000
Returns inwards and outwards 4,600 3,200
Carriage inwards 1,400  
General expenses 2,400  
Bad debts 600  
Discount received   1,400
Bank overdraft   10,000
Interest on bank overdraft 600  
Commission received   1,800
Insurance and taxes 4,000  
Scooter expenses 200  
Salaries 8,800  
Cash in hand 4,000  
Scooter 8,000  
Furniture 5,200  
Building 65,000  
Debtors and creditors 6,000 16,000
Capital   50,000

Closing stock ₹ 15,000.

The solution of Question No 27 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   16,000 By Sales 1,12,000  
To Purchases 67,600   Less return  4,600 1,07,400
Less return  3,200 64,400 By Closing stock 15,000
To Carriage  1,400    
To Gross profit c/d 40,600    
(Transferred to P & L A/c)      
    1,22,400     1,22,400 
To general expenses   2,400 By Gross Profit b/d   40,600
To Bad debts   600 By Discount   1,400
To Interest on bank overdraft   600 By Commission   1,800
To Insurance & Taxes   4,000      
To Scooter expenses   200      
To Salaries   8,800 (and transferred to capital a/c)    
To Net Profit c/d   24,200      
(and transferred capital)          
    43,800     43,800

BALANCE SHEETAS ON 31st March, 2020
Liabilities Amount Assets Amount
Capital 50,000   Cash in hand   4,000
Add Net Profit 27,200 77,200 Scooter 8,000
Bank overdraft 10,000 Furniture 5,200
Creditors 16,000 Building  65,000
    Closing stock  6,000
    Debtors
 
total   1,03,200     1,03,200

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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)

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