Question 29 Chapter No 16 – Class 11 Unimax 

Question 29 Chapter No 16 – Class 11 Unimax 

29. Prepare trading and profit and loss account of M/s Plastic ltd. from the following trial balance and a balance sheet as at March 31 ,2019:

Adjustments:
(1) Depreciation on loan and building @ 5% and Motor Vehicle @ 15%.
(2) Interest on loan 5% taken on April, 01,2019.
(3) Goods costing ₹ 1,200 were sent to a customer on sales or return basis for ₹ 1,400 on March 30,2020 and has been recorded in the books as actual sales.
(4) Salaries amounting to ₹ 1,400 and rates amounting to ₹ 800 are due.
(5) The bad debts provision is to be brought up to 5% on sundry debtors.
(6) Closing stock was ₹ 13,700.
(7) Goods costing ₹ 1,000 were taken away by the proprietor for his personal us but no entry has been made in the books of account.
(8) Insurance prepaid ₹ 350.
(9) Provide the manager’s commission @ 5% on Net Profit before charging such commission.

The solution of Question 29 Chapter No 16 – Class 11 Unimax 

End of Solution

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The solutions to all questions of Chapter 16 – Financial Statements (With Adjustments) 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

UnimaxSolutions.in 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.

• Chapter No. 1 – Introduction of Accounting
• Chapter No. 2 – Theory Base of Accounting
• Chapter No. 3 – Vouchers and Transactions
• Chapter No. 4 – Journal
• Chapter No. 5 – Goods and Services Tax (GST): An Introduction
• Chapter No. 6 – Ledger
• Chapter No. 7 – Special Purpose Book – Cash Book
• Chapter No. 8 – Other Subsidiary Books
• Chapter No. 9 – Trial Balance
• Chapter No. 10 – Rectification of Errors
• Chapter No. 11 – Depreciation
• Chapter No. 12 – Provision and Reserves
• Chapter No. 13 – Bank Reconciliation Statement
• Chapter No. 14 – Bills of Exchange
• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

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.