Question 26 Chapter 15 – Class 11 Unimax -

Question 26 Chapter 15 – Class 11 Unimax

Prepare Trading and profit and loss account from the following Particulars of M/s Neema Traders as on March 31,2020:

Stock on March 31, 2020 ₹ 16,000.

The solution of Question 26 Chapter 15 – Class 11 Unimax

Trading A/c, Profit & Loss A/C of M/S Neema traders as on 31^st March, 2020
Particular		Amount	Particular		Amount
To Opening stock		9,000	By Sales	1,80,000
To Purchases	1,64,000		Less return	1,820	1,78,180
Less return	1,910	1,62,090	By Closing stock		16,000
To Carriage inwards		1,000
To wages		3,300
To Gross profit c/d		18,790
(and transferred to P & L A/c)
		1,94,180			1,94,180
To Insurance		1,610	By Gross Profit b/d		18,790
To Interest		1,100
To Bad debts		250
To Postage		300
To Discount		1,000
To salaries		3,000
To Net Profit c/d		11,530
(and transferred to Capital a/c)
		18,790			18,790

Balance sheet as on 31st March, 2020