Question no 31 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 8 Min Read April 7, 2023
Question No 31 Chapter No 15- Unimax Class 11
Question No 31 Chapter No 15- Unimax Class 11

Question No 31 Chapter No 15 – Unimax Class 11

From the following Trial Balance of Messrs. Ch Amar sons, prepare Trading and Profit & Loss Account for the half – year ending 30th sept. 2020 and a Balance sheet as at that date:

Particular Debit
(₹)		 Credit
(₹)
Capital 1st April,2019   15,750
Stock 1st April ,2019 4,500  
Purchases / sales 8,940 22,860
Returns 240 270
Duty on imported goods 1,560  
Carriage om purchases 840  
Carriage on sales 1,200  
Office salaries 1,440  
Drawings 2,400  
Rent paid 1,080  
General expenses 900  
Commission earned   1,200
Bank balance 1,800  
Cash 600  
Sundry debtors 6,000  
Bills payable   9,000
Sundry creditors   4,620
Buildings 12,000  
Machinery 6,000  
Bills receivable 1,500  
Depreciation 1,200  
Horses and carts 900  
Interest 540  
Discount allowed 60  
  53,700 53,700

Stock in hand on 30th sept. 2020 ₹ 5,910.

The solution of Question No 31 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   4,500 By Sales 22,860  
To Purchases 8,940   Less return  240 22,620
Less return  270 8,670 By Closing stock 5,910
To Import duty 1,560    
To Carriage on purchases 840    
To Gross profit c/d   12,960      
(and transferred to P & L A/c)          
    28,530      28,530 
To Carriage on Sales   1,200 By Gross Profit b/d   12,960
To Office salaries   1,440 By Commission   1,200
To Rent   1,080
      
To General expenses   900      
To Depreciation   1,200      
To Interest   540      
To discount   60      
To Net Profit c/d   7,740      
(and transferred capital)          
    14,160     14,160

BALANCE SHEET AS ON 31st March, 2020

Liabilities 

 Amount Assets Amount
Capital 15,750   Bank balance   1,800
Add net profit 7,740   Cash   600
Less Drawing 2,400 21,090 S. debtors 6,000
Bills payable 9,000 Building  12,000
Creditors 4,620 Machinery  6,000
      Bills receivable   1,500
      Horses & Carts   900
      Closing stock   5,910
TOTAL   34,710     34,710

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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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