Question 30 Chapter 15 – Class 11 Unimax -

Question 30 Chapter 15 – Class 11 Unimax

Prepare trading and profit and loss account and balance sheet from the following particulars as on march31,2020.

Particular	Debit (₹)	Credit (₹)
Purchases and sales	3,52,000	5,60,000
Return inward and return outwards	9,600	12,000
Carriage inwards	7,000
Carriage outwards	3,360
Fuel and power	24,800
Opening stock	57,600
Bad debts	9,950
Debtors and creditors	1,31,200	48,000
Capital		3,48,000
Investment	32,000
Interest on investment		3,200
Loan		16,000
Repairs	2,400
General expenses	17,000
Wages and salaries	28,800
Land and buildings	2,88,000
Cash in hand	32,000
Miscellaneous receipts		160
Sales tax collected		8,350

Closing stock ₹ 30,000.

The solution of Question 30 Chapter 15 – Class 11 Unimax

Trading A/c, Profit & Loss A/c for the year ended 31^st March, 2020
Particular	Amount	Particular	Amount
To Opening stock	57,600	By Sales	5,50,400
To Purchases	3,40,000	By Closing stock	30,000
To Carriage	7,000
To Fuel and power	24,800
To wages & Salaries	28,800
To Gross profit c/d	1,22,200
(and transferred to profit & loss A/c)
	5,80,400		5,80,400
To Carriage outward	3,360	By Gross Profit b/d	1,22,200
To Bad debts	9,950	By Interest on investment	3,200
To Repairs	2,400	By Misc. Receipts	160
To General expenses	17,000
To Net profit c/d	92,850
(and transferred capital)
	1,25,560		1,25,560