Question 21 Chapter No 17 – Class 11 Unimax 

Question 21 Chapter No 17 – Class 11 Unimax 


Question 21 Chapter No 17 – Class 11 Unimax 

Mandeep maintain incomplete records. An analysis of his cash book for the year ended 31st March,2020 is as follows:

Cash Receipts: 
From sundry debtors60,000
From cash sales50,000
From Sharma, as additional capital 1st Oct.,201915,000
Total cash receipts1,25,000
Cash Payments: 
Cash purchases30,000
Paid to creditors25,000
Productive expenses9,000
Salary paid2,000
Sundry expenses3,000
New furniture purchases14,000
Private payments5,000
Total cash payments88,000


Assets and Liabilities  
Sundry Debtors20,000 
Sundry creditors9,000 

Other information:

(1) Credit sales during the year were ₹ 60,000.
(2) Sales returns ₹ 4,000.
(3) Creditors purchases during the year were ₹ 35,000.
(4) Discount allowed to debtors ₹ 1,000.
(5) Discount received from creditors ₹ 300.
(6) Bad debts written off during the year were ₹ 2,000.


(1) Write off further bad debts ₹ 2,000.
(2) Provide 10% from doubtful debt and 3% for discount on debtors.
(3) Allow interest on capital @ 15% p.a.
Prepare Trading and Profit and Loss A/c for the year ended 31st March, 2020 and Balance Sheet as at that date.

The solution of Question 21 Chapter No 17 – Class 11 Unimax 

Total Debtors A/c

To Balance b/d (1-4-2019)20,000By cash received from debtors60,000
To Credit sales60,000By Sales returns4,000
  By Discount allowed1,000
  By Bad debts2,000
  By Balance c/d (Balance figure)13,000
 80,000 80,000

Note: Only the amount of ‘Bad debts’ is recorded in total debtors account. The amount of ‘Further bad debts’ shown in adjustments is not recorded in it.

Total Creditors A/c

Particulars AmountParticulars Amount
To Cash paid to creditors25,000By Balance b/d (1-4-2019)9,000
To Discount received300To Creditors purchase35,000
To Balance c/d (31-3-2020) (Balance figure)18,700  
 44,000 44,000

Opening Balance Sheet
As at 1st April 2019


Liabilities AmountAssetsAmount
Sundry creditors9,000Cash in hand12,000
Capital (Balance figure)62,000Sundry debtors20,000
 71,000 71,000


Trading and Profit and Loss A/c
For the year ending 31st March, 2020

To Opening stock 30,000By Sales:  
To Purchases: 5,50,000Cash sales50,000 
Cash purchases30,000 Credit sales60,000 
Credit purchases35,00065,000Less: Sales returns4,0001,06,000
To Productive expenses 9,000By Closing stock 30,000
To Gross Profit c/d 32,000   
  1,36,000  1,36,000
To Salary 2,000By Gross Profit B/d 32,000
To Sundry expenses 3,000By Discount received 300
To Dep. on Furniture
To Discount allowed 1,000   
To Bad debts2,000    
Add: Further bad debt2,000    
Add: New provision1,1005,100   
To Provision for discount 297   
To Interest on capital     
15% on 62,0009,300    
15% on 15,000 for 6 months1,12510,425   
To Net profit 2,478   
  32,300  32,300

Balance Sheet
As at 31st March, 2020

Liabilities AmountAssetsAmount
Sundry Creditors 18,700Cash in hand  
Capital62,000 Opening balance12,000 
Add: Additional capital15,000 Add: Total receipts1,25,000 
Add: Interest on capital10,425 Less: Total payments88,00049,000
Add: Net Profit2,478 Sundry debtors:13,000 
Less: Drawings5,00084,904Less: Further bad debts2,000 
   Less: New provision for doubtful debts @ 10% on 11,0001,100 
   Less: Provision for discount @ 3% on 9,0002979,603
   Closing stock 30,000
   Furniture 15,000
  1,03,603  1,03,603


End of Solution

Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter 17 – Accounts from Incomplete Records – Single Entry System 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 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.

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.


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