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Question No 31 Chapter No 15 – Unimax Class 11
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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
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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