Question no 30 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 7, 2023
Question No 30 Chapter No 15 - UNIMAX Class 11
Question No 30 Chapter No 15 - UNIMAX Class 11

Question No 30 Chapter No 15 – Unimax Class 11

Prepare trading and profit and loss account and balance sheet from the following particulars as on march31,2020.

Particular Debit
(₹)		 Credit
(₹)
Purchases and sales 3,52,000 5,60,000
Return inward and return outwards 9,600 12,000
Carriage inwards 7,000  
Carriage outwards 3,360  
Fuel and power 24,800  
Opening stock 57,600  
Bad debts 9,950  
Debtors and creditors 1,31,200 48,000
Capital   3,48,000
Investment 32,000  
Interest on investment   3,200
Loan   16,000
Repairs 2,400  
General expenses 17,000  
Wages and salaries 28,800  
Land and buildings 2,88,000  
Cash in hand 32,000  
Miscellaneous receipts   160
Sales tax collected   8,350

Closing stock ₹ 30,000.

The solution of Question No 30 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   57,600 By Sales   5,50,400
To Purchases   3,40,000 By Closing stock   30,000
To Carriage   7,000    
To Fuel and power 24,800    
To wages & Salaries 28,800    
To Gross profit c/d   1,22,200      
(and transferred to profit & loss A/c)          
    5,80,400     5,80,400 
To Carriage outward   3,360 By Gross Profit b/d   1,22,200
To Bad debts   9,950 By Interest on investment   3,200
To Repairs   2,400 By Misc. Receipts   160
To General expenses   17,000      
To Net profit c/d   92,850      
(and transferred capital)          
    1,25,560     1,25,560

BALANCE SHEET AS ON 31st March, 2020

Liabilities

 Amount Assets Amount
Capital 3,48,000   Debtors   1,31,200
Add net profit 92,850 4,40,850 Investments   32,000
Creditors   48,000 Land & Building 2,88,000
Loan 16,000 Cash in hand 32,000
Sales Tax collected 8,350 Closing stock 30,000
Total   5,13,200     5,13,200

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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)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

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