Question 21 Chapter 15 – Class 11 Unimax -

Question 21 Chapter 15 – Class 11 Unimax

The following is the trial balance on March 31,2020. You are required prepare Trading and Profit & Loss account and a Balance sheet as on that date:

Closing stock ₹ 2,000.

The solution of Question 21 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		10,000	By Sales	80,000
To Purchases	40,000		Less Returns	200	79,800
Less return	600	39,400	By Closing stock		2,000
To Dock and clearing charges		4,000
To Productive wages		6,000
To Royalty		4,000
To Gross profit c/d		18,400
(and transferred to P & L A/c)
		81,800			81,800
To Donation and charity		600	By Gross Profit b/d		18,400
To Delivery and expenses		6,000	By Misc. income		6,000
To Lighting		500	By Rent from Tenants		2,000
To Bad debts		600
To Net profit c/d		18,700
(and transferred to capital A/c)
		26,400			26,400