Question no 33 Chapter No 15 – Unimax Class 11

Posted by By Rajwinder Kaur 7 Min Read April 7, 2023
Question No 33 Chapter No 15- Unimax Class 11
Question No 33 Chapter No 15- Unimax Class 11

Question No 33 Chapter No 15 – Unimax Class 11

(with GST). Following is the Trial Balance of at 31st March, 2020. Draw the final accounts from the balance therefore:

Particular Debit
(₹)		 Credit
(₹
Capital   1,50,000
Stock on 1st April,2019 30,000  
Cash in hand 10,000  
Cash at bank 5,000  
Furniture 13,000  
Machinery 1,00,000  
Purchases 2,00,000  
Carriage 33,000  
Wages 50,000  
Discount allowed 4,000  
Salaries 70,000  
Discount received   5,000
Office expenses 40,000  
Advertising 50,000  
Sales   5,00,000
Sundry debtors 90,000  
Sundry creditors   47,000
Input CGST A/c 10,000  
Input SGST A/C 10,000  
Input IGST A/C 15,000  
Output CGST A/C   8,000
Output SGST A/C   8,000
Output IGST A/c   12,000
total 7,30,000 7,30,000;

Value of closing stock on 31st March, 2020 was ₹ 50,000.

The solution of Question No 33 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   30,000 By Sales   5,00,000
To Purchases   2,00,000 By Closing stock   50,000
To Wages   50,000    
To Carriage 33,000    
To Gross Profit c/d 2,37,000    
    5,50,000     5,50,000
To Salaries   70,000 By Gross profit b/d   2,37,000
To Discount allowed   4,000  By Discount received   5,000
To Advertising   50,000      
To Office expenses   40,000      
To Net profit transferred to capital A/c   78,000      
    2,42,000     2,42,000

BALANCE SHEET AS ON 31st March, 2020
Liabilities Amount Assets Amount
Sundry creditors   47,000 Cash in hand   10,000
Capital:     Cash at bank   5,000
Opening balance 1,50,000   Sundry debtors 90,000
Add: Net profit 78,000 2,28,000 Closing stock 50,000
    Input CGST  2,000
      Input SGST   2,000
      Input IGST   3,000 
      Furniture   13,000 
      Machinery   1,00,000
    2,75,000     2,75,000

Note : setting-off GST:

  Input(₹) Output(₹) Balance(₹) (carriage forward)
IGST 15,000 12,000 3,000(Dr.)
CGST 10,000 8,000 2,000(Dr.)
SGST 10,000 8,000 2,000(Dr.)

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

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Balance Sheet: Meaning, Format & Examples

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

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Chapter No. 6 – Accounting for Goods and Services Tax(GST)

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

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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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