Advertisement
Question 20 Chapter 15 – Class 11 Unimax
20. The following trial balance is extracted from the books on March 31, 2020. You are required to prepare the Trading and profit and loss account and the balance sheet as on date:
| Particular | ₹ | Particular | ₹ |
| Debtors | 12,000 | Apprenticeship premium | 5,000 |
| Purchases | 50,000 | Loan | 10,000 |
| Coal, Gas and water | 6,000 | Bank overdraft | 1,000 |
| Factory wages | 11,000 | Sales | 80,000 |
| Salaries | 9,000 | Creditors | 13,000 |
| Rent | 4,000 | Capital | 20,000 |
| Discount | 3,000 | ||
| Advertisement | 500 | ||
| Drawings | 1,000 | ||
| Loan | 6,000 | ||
| Petty cash | 500 | ||
| Sales return | 1,000 | ||
| Machinery | 5,000 | ||
| Land and Building | 10,000 | ||
| Income tax | 100 | ||
| Furniture | 9,900 |
The solution of Question 20 Chapter 15 – Class 11 Unimax
| Trading A/c, Profit & Loss A/c for the year ended 31st March, 2020 | |||||
| Particular | Amount | Particular | Amount | ||
| To Purchases | 50,000 | By Sales | 80,000 | ||
| To Coal, Gas and water | 6,000 | Less sales return | 1,000 | 79,000 | |
| To Factory wages | 11,000 | ||||
| To Gross profit c/d | 12,000 | ||||
| (and transferred to P & L A/c) | |||||
| 79,000 | 79,000 | ||||
| To Salaries | 9,000 | By Gross Profit b/d | 12,000 | ||
| To Rent | 4,000 | By Apprenticeship premium | 5,000 | ||
| To Discount | 3,000 | ||||
| To Advertisement | 500 | ||||
| To Net profit c/d | 500 | ||||
| (and transferred to capital A/c) | |||||
| 17,000 | 17,000 | ||||
balance sheet as on 31st March, 2020 | |||||
| Liabilities | Amount | Assets | Amount | ||
| Capital | 20,000 | Debtors | 12,000 | ||
| Add net profit | 500 | Petty cash | 500 | ||
| Less Income tax | 100 | Machinery | 5,000 | ||
| Less Drawing | 1,000 | 19,400 | Land and Building | 10,000 | |
| Loan | 10,000 | Loan | 6,000 | ||
| Bank overdraft | 1,000 | Furniture | 9,900 | ||
| Creditors | 13,000 | 9,000 | |||
| 43,400 | 43,400 | ||||
Advertisement