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Question 19 Chapter 15 – Class 11 Unimax
From the following Trial Balance prepare a Trading and a Profit and Loss account for the year ending 31st March,2020 and a balance sheet as on that date:
| Particulars | ₹ | Particulars | ₹ |
| Debit balance | Rent, Rates and taxes | 4,800 | |
| Sundry debtors | 9,000 | Salaries | 12,000 |
| Stock 1st April,2019 | 30,000 | Drawings | 12,000 |
| Land and Buildings | 60,000 | Purchases | 60,000 |
| Cash in hand | 9,600 | Office expenses | 15,000 |
| Cash at bank | 24,000 | Plant & Machinery | 34,200 |
| Wages | 18,000 | Credit Balances | |
| Bills Receivable | 12,000 | Capital | 1,50,000 |
| Interest | 1,200 | Interest | 3,600 |
| Bad debts | 3,000 | Sundry creditors | 42,000 |
| Repairs | 1,800 | Sales | 1,02,000 |
| Furniture and fixtures | 9,000 | Bills Payable | 24,000 |
| Depreciation | 6,000 |
On 31st March,2020 the stock was valued at ₹ 60,000.
The solution of Question 19 Chapter 15 – Class 11 Unimax
Trading A/c, Profit & Loss A/c , As On 31st March, 2020 | |||
| Particular | Amount | Particular | Amount |
| To Opening stock | 30,000 | By Sales | 1,02,000 |
| To wages | 18,000 | By Closing stock | 60,000 |
| To Purchases | 60,000 | ||
| To Gross profit c/d (and transferred to profit & loss A/c) | 54,000 | ||
| 1,62,000 | 1,62,000 | ||
| To interest | 1,200 | By Gross Profit b/d | 54,000 |
| To Bad debts | 3,000 | Interest | 3,600 |
| To Repairs | 1,800 | ||
| To Depreciation | 6,000 | ||
| To Rent, Rates and taxes | 4,800 | ||
| To Salaries | 12,000 | ||
| To Office expenses | 15,000 | ||
| To Net profit c/d (and transferred to capital A/c) | 13,800 | ||
| 57,600 | 57,600 | ||
| Balance sheet as on31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 1,50,000 | Sundry debtors | 9,000 | ||
| Add net profit | 13,800 | Land and Buildings | 60,000 | ||
| Less drawings | 12,000 | 1,51,800 | Cash in hand | 9,600 | |
| Sundry creditors | 42,000 | Cash at bank | 24,000 | ||
| Bill payable | 24,000 | Bills Receivable | 12,000 | ||
| Plant & Machinery | 34,200 | ||||
| Furniture and fixtures | 9,000 | ||||
| Closing stock | 60,000 | ||||
| Total | 2,17,800 | 2,17,800 | |||
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