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Question 22 Chapter 15 – Class 11 Unimax
The following is the Trial Balance of Mr. Deepak as on March,2020. You are required to prepare Trading Account, Profit & Loss account and a balance sheet as on that date:
| Account title | ₹ | Account title | ₹ |
| Drawings | 36,000 | Capital | 2,50,000 |
| Insurance | 3,000 | Bills payable | 3,600 |
| General expenses | 29,000 | Creditors | 50,000 |
| Rent & Taxes | 14,400 | Discount received | 10,400 |
| Lighting (factory) | 2,800 | Purchases returns | 8,000 |
| Travelling expenses | 7,400 | Sales | 4,40,000 |
| Cash in hand | 12,600 | ||
| Bills receivable | 5,000 | ||
| Sundry debtors | 1,04,000 | ||
| Furniture | 16,000 | ||
| Plant and machinery | 1,80,000 | ||
| Opening stock | 40,000 | ||
| Purchases | 1,60,000 | ||
| Sales return | 6,000 | ||
| Carriage inward | 7,200 | ||
| Carriage outward | 1,600 | ||
| Wages | 84,000 | ||
| Salaries | 53,000 |
Closing stock ₹ 35,000.
The solution of Question 22 Chapter 15 – Class 11 Unimax
| Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020 | |||||
| Particular | Amount | Particular | Amount | ||
| To Opening stock | 40,000 | By Sales | 4,40,000 | ||
| To Carriage inward | 7,200 | Less return | 6,000 | 4,34,000 | |
| To Lighting | 2,800 | By Closing stock | 35,000 | ||
| To Purchases | 1,60,000 | ||||
| Less returns | 8,000 | 1,52,000 | |||
| To wages | 84,000 | ||||
| To Gross profit c/d | 1,83,000 | ||||
| (and transferred to profit & loss A/c) | |||||
| 4,69,000 | 4,69,000 | ||||
| To Insurance | 3,000 | By Gross Profit b/d | 1,83,000 | ||
| To General expenses | 29,000 | By Discount received | 10,400 | ||
| To Rent & Taxes | 14,400 | ||||
| To Travelling expenses | 7,400 | ||||
| To Carriage outward | 1,600 | ||||
| To Salaries | 53,000 | ||||
| To Net profit c/d | 85,000 | ||||
| (and transferred to capital A/c) | |||||
| 1,93,400 | 1,93,400 | ||||
BALANCE SHEET AS ON 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 2,50,000 | Cash in hand | 4,40,000 | 12,600 | |
| Add net profit | 85,000 | Bill receivable | 6,000 | 5,000 | |
| Less Drawing | 36,000 | 2,99,000 | Sundry debtors | 1,04,000 | |
| Bills payable | 3,600 | Furniture | 16,000 | ||
| Creditors | 50,000 | Plant and machinery | 1,80,000 | ||
| Closing stock | 35,000 | ||||
| 3,52,600 | 3,52,600 | ||||
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