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Question No 29 Chapter No 15 – Unimax Class 11
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From the following trail balance, prepare the Trading and profit and loss account for the year ended 31st march,2020.
| Particular | Debit (₹) | Credit (₹) |
| Capital and drawings | 4,560 | 1,74,000 |
| Purchases and sales | 53,400 | 90,000 |
| Sales and purchases returns | 1,680 | 2,700 |
| Stock (1-4-2019) | 7,200 | |
| Wages | 4,800 | |
| Building | 1,32,000 | |
| Freight and carriage | 12,000 | |
| Trade expenses | 1,200 | |
| Advertisement | 1,440 | |
| Interest | 400 | 2,500 |
| Taxes and insurance | 780 | |
| Debtors and creditors | 39,000 | 7,200 |
| Bills receivable and bills payable | 9,000 | 4,200 |
| Cash in hand | 1,140 | |
| Cash at bank | 7,200 | |
| Salaries | 4,800 | |
| 2,80,600 | 2,80,600 |
Adjustment (1) stock on 31st March,2020 was valued at ₹ 9,000.
The solution of Question No 29 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 | 7,200 | By Sales | 90,000 | ||
| To Purchases | 53,400 | Less return | 1,680 | 88,320 | |
| Less Returns | 2,700 | 50,700 | By Closing stock | 9,000 | |
| To wages | 4,800 | ||||
| To fright and carriage | 12,000 | ||||
| To Gross profit c/d | 22,620 | ||||
| (and transferred to P & L A/c) | |||||
| 97,320 | 97,320 | ||||
| To trade expenses | 1,200 | By Gross Profit b/d | 22,620 | ||
| To Advertisement | 1,440 | By Interest | 2,00 | ||
| To Interest | 400 | ||||
| To Taxes & Insurance | 780 | ||||
| To Salaries | 4,800 | ||||
| To Net Profit c/d | 16,500 | ||||
| (and transferred capital) | |||||
| 25,120 | 25,120 | ||||
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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)
Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication
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