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Question 10 Chapter 15 – Class 11 Unimax

Question 10 Chapter 15 – Class 11 Unimax

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Question 10 Chapter 15 – Class 11 Unimax

From the following information, prepare profit and loss account for the year ended 31.03.2020.

 
Gross profit3,00,000
Office salary50,000
Rent and Taxes30,000
Advertisements12,500
Selling expenses37,500
Carriage outward10,000
Interest and bank charges15,000
Trade expenses20,000
Depreciation7,500
Other expenses12,50

 

The solution of Question 10 Chapter 15 – Class 11 Unimax

 Profit & Loss A/c of MR.X for the year ended 31st March, 2020
Particular
AmountParticular
Amount
To Office salary 50,000By Gross Profit b/d 3,00,000
To Rent and Taxes 30,000   
To Advertisements 12,500  
To Selling expenses37,500  
To Carriage outwards10,000  
To Interest and bank charges 15,000   
To Trade expenses 20,000   
To Depreciation 7,500    
To Other expenses 12,500   
To Net Profit c/d
(and transferred to capital a/c)
 1,05,000   
  3,00,000
  3,00,000

 

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter 15 – Financial Statements (Without Adjustments) Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

Question 5 Chapter 15 – Class 11 Unimax

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Question 17 Chapter 15 – Class 11 Unimax

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Question 29 Chapter 15 – Class 11 Unimax

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

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