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Question no 20 Chapter No 15 – Unimax Class 11

Question No 20 Chapter No 15- Unimax Class 11
Question No 20 Chapter No 15- Unimax Class 11

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Question no 20 Chapter No 15 – Unimax Class 11

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20. The following trial balance is extracted from the books on March 31, 2020. You are required to prepare the Trading and profit and loss account and the balance sheet as on date:

ParticularParticular
Debtors12,000Apprenticeship premium5,000
Purchases50,000Loan10,000
Coal, Gas and water6,000Bank overdraft1,000
Factory wages11,000Sales80,000
Salaries9,000Creditors13,000
Rent4,000Capital20,000
Discount3,000  
Advertisement500  
Drawings1,000  
Loan6,000  
Petty cash500  
Sales return1,000  
Machinery5,000  
Land and Building10,000  
Income tax100  
Furniture9,900  

The solution of Question no 20 Chapter No 15 – Unimax Class 11

Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020
Particular
AmountParticular
Amount
To Purchases 50,000By Sales80,000 
To Coal, Gas and water 6,000Less sales return1,00079,000
To Factory wages 11,000  
To Gross profit c/d12,000  
(and transferred to P & L A/c)   
 79,000 79,000
To Salaries9,000By Gross Profit b/d12,000
To Rent4,000By Apprenticeship premium5,000
To Discount3,000  
To Advertisement500  
To Net profit c/d500  
(and transferred to capital A/c)   
  17,000  17,000

balance sheet as on 31st March, 2020

Liabilities AmountAssets Amount
Capital20,000 Debtors 12,000
Add net profit500 Petty cash 500
Less Income tax100 Machinery5,000
Less Drawing1,00019,400 Land and Building 10,000
Loan10,000 Loan6,000
Bank overdraft1,000 Furniture 9,900
Creditors13,000 9,000
  43,400  43,400

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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: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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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

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Chapter No. 4 – Vouchers and Transactions

Chapter No. 5 – Journal

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

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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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