Question 30 Chapter No 16 – Class 11 Unimax 

Question 30 Chapter No 16 – Class 11 Unimax 

30. (with GST). Following is the Trial Balance of Sanjiv as 31st March, 2020:

You are required to prepare Trading and Profit & Loss A/c for the year ending 31st March,2020 and balance sheet as on that date, after considering the following adjustments:
(1) Stock at Hand on 31st March,2020 is ₹ 15,000.
(2) Machinery is to depreciation @ 15% and patents @ 20%.
(3) Salaries for the month of March, 2020 amounted to ₹ 3,000 were unpaid.
(4) Insurance included a premium of ₹170 for next year.
(5) Wages include a sum of ₹ 4,000, spent on constructing a cycle shed for employees and customers.
(6) A Provision for Doubtful debtors is to be created to the extent of 5% on Sundry debtors.

The solution of Question 30 Chapter No 16 – Class 11 Unimax 

 note:

1. Wages paid for constructing a cycle shed being capital expenditure should be debited to the building account.
2. Input CGST (₹ 2,500) and Input SGST (₹ 2,500 are set off against Output IGST (₹ 5,000).

End of Solution

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The solutions to all questions of Chapter 16 – Financial Statements (With Adjustments) Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

• 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
• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.