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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:
| Particular | ₹ | Particular | ₹ |
| Debtors | 12,000 | Apprenticeship premium | 5,000 |
| Purchases | 50,000 | Loan | 10,000 |
| Coal, Gas and water | 6,000 | Bank overdraft | 1,000 |
| Factory wages | 11,000 | Sales | 80,000 |
| Salaries | 9,000 | Creditors | 13,000 |
| Rent | 4,000 | Capital | 20,000 |
| Discount | 3,000 | ||
| Advertisement | 500 | ||
| Drawings | 1,000 | ||
| Loan | 6,000 | ||
| Petty cash | 500 | ||
| Sales return | 1,000 | ||
| Machinery | 5,000 | ||
| Land and Building | 10,000 | ||
| Income tax | 100 | ||
| Furniture | 9,900 |
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 | Amount | Particular | Amount | ||
| To Purchases | 50,000 | By Sales | 80,000 | ||
| To Coal, Gas and water | 6,000 | Less sales return | 1,000 | 79,000 | |
| To Factory wages | 11,000 | ||||
| To Gross profit c/d | 12,000 | ||||
| (and transferred to P & L A/c) | |||||
| 79,000 | 79,000 | ||||
| To Salaries | 9,000 | By Gross Profit b/d | 12,000 | ||
| To Rent | 4,000 | By Apprenticeship premium | 5,000 | ||
| To Discount | 3,000 | ||||
| To Advertisement | 500 | ||||
| To Net profit c/d | 500 | ||||
| (and transferred to capital A/c) | |||||
| 17,000 | 17,000 | ||||
balance sheet as on 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 20,000 | Debtors | 12,000 | ||
| Add net profit | 500 | Petty cash | 500 | ||
| Less Income tax | 100 | Machinery | 5,000 | ||
| Less Drawing | 1,000 | 19,400 | Land and Building | 10,000 | |
| Loan | 10,000 | Loan | 6,000 | ||
| Bank overdraft | 1,000 | Furniture | 9,900 | ||
| Creditors | 13,000 | 9,000 | |||
| 43,400 | 43,400 | ||||
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Final Accounts: Meaning, Definition and Explanation
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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
- 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
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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
Chapter No. 4 – Vouchers and Transactions
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Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
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Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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)
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