Question No 9 Chapter No 12 – Unimax Class 11
Table of Contents
9. For the year 2019 opening balance in provision for taxation is ₹ 6,00,000. Net profit for the year amounted to ₹ 18,00,000 and rate if income tax payable is 40%. Prepare provision for taxation account and income tax payable A/c.
The solution of Question No 9 Chapter No 12 – Unimax Class 11:
| Dr. | Provision for taxation A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 2015 | 2015 | ||||||
| Dec.31 | To income tax payable A/c | 7,20,000 | Jan.1 | By Balance c/d | 6,00,000 | ||
| Dec.31 | By P & L A/c | 1,20,000 | |||||
| 7,20,000 | 7,20,000 | ||||||
| Dr. | Income tax payable A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 2015 | 2015 | ||||||
| Dec.31 | To Bank A/c | 7,20,000 | Dec.31 | By Provision for Taxation A/c | 7,20,000 | ||
| 7,20,000 | 7,20,000 | ||||||
It is all about Question No 9 Chapter 12 of Class 11 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Depreciation
Provisions and Reserves | Meaning | Methods | Examples
Provision and Reserve: Differences with example
Also, Check out the same article in Hindi from the following link
Depreciation | Meaning | Methods | Examples-in Hindi
Also, Check out the solved question of all Chapters: –
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 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
- 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