Question 23 Chapter No 17 – Class 11 Unimax 

Question 23 Chapter No 17 – Class 11 Unimax 


Question 23 Chapter No 17 – Class 11 Unimax 

Rohit started business on 1st April, 2019, with a capital of ₹ 5,00,000. On the same day he purchased furniture for ₹ 60,000. From the following particulars obtained from his books, which do not confirm strictly to double entry principles, you are required to prepare Trading & Profit and Loss A/c for the year ended 31st March,2020 and a Balance Sheet as at that date:

Cash sales2,00,000
Credit sales1,50,000
Purchases (include cash purchases1,50,000)3,00,000
X’s Drawings30,000
Bad debts written off2,000
Trade expenses8,000

Rohit has used goods worth ₹ 20,000 for private purpose and paid ₹ 10,000 to his son, which is not recorded anywhere. On 31st March, 2020, his Debtors were worth ₹ 80,000 and Creditors ₹ 70,000.
Stock in trade on that date was worth ₹ 1,20,000, depreciation furniture by 10% outstanding salary is ₹ 4,000.

The solution of Question 23 Chapter No 17 – Class 11 Unimax 

Total Debtors A/c

Particulars AmountParticularsAmount
To Credit sales1,50,000By cash received from debtors68,000
  To Bad debts2,000
  By Balance c/d (31-3-2020)80,000
 1,50,000 1,50,000

Total Creditors A/c 

To Cash paid to creditors80,000To Creditors purchases (Balance figure)1,50,000
To Balance c/d (31-3-2020)70,000  
 1,50,000 1,50,000

Cash book

Receipts AmountPaymentsAmount
To Capital5,00,000By Furniture A/c60,000
To Sales A/c2,00,000To Purchases A/c1,50,000
To Received from debtors68,000By Drawings A/c (30,000+10,000)40,000
(transferred from debtors A/c) By Salaries A/c50,000
  By Trade expenses8,000
  By Payment creditors
(transferred to creditors A/c)
  By Balance c/d (balance figure on 31-3-2020)3,80,000
 7,68,000 7,68,000

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

To Purchases  By Sales:  
Cash Purchases1,50,000 Cash sales2,00,000 
Credit purchases1,50,000 Credit sales1,50,0003,50,000
Less: Drawings20,0002,80,000   
To Gross Profit c/d 1,90,000By Closing stock 1,20,000
  4,70,000  4,70,000
To Salaries50,000 By Gross Profit B/d 1,90,000
Add: outstanding salaries4,00054,000   
To Bad debts 2,000   
To trade expenses 8,000   
To Dep. On furniture 6,000   
To Net profit 1,20,000   
  1,90,000  1,90,000

Balance Sheet
As at 31st March, 2020

Liabilities AmountAssetsAmount
 Creditors 70,000Cash in hand 3,80,000
Outstanding salary 4,000Debtors 80,000
Capital5,00,000 Closing stock 1,20,000
Add: Net Profit1,20,000 Furniture60,000 
 6,20,000 Less: Depreciation6,00054,000
Less: Drawing (30,000+20,000+10,000)60,0005,60,000   
  6,34,000  6,34,000


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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