Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Commerce: Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

The document Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course DK Goel Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

Page No 21.43:
Question 17:
Following is the Trial Balance of Sh. Damodar Parshad as at 31st March, 2016:-
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Prepare a Trading and Profit and Loss Account for the year ended on 31-3-2016 and the Balance Sheet as at that date. The Stock on 31st March, 2016 was ₹ 22,000.
ANSWER:
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 21.44:
Question 18:
From the following balances extracted from the books of Sh. Badri Vishal on 31st March, 2017, prepare a Trading Account, P & L A/c and a Balance Sheet. Closing Stock valued on that date was ₹ 15,000.
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
ANSWER:
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
*Drawings = Household Expenses + Life Insurance Premium = 10,000 + 1,800 = Rs 11,800

Page No 21.45:
Question 19:
From the following balances of the Ledger of Sh. Akhileshwar Singh, prepare Trading and Profit & Loss Account and Balance Sheet:-
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

 ANSWER:Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 21.46:
Question 20:
From the following balances prepare Final Accounts as at 31st March 2017:-
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Value of Closing Stock was ₹ 36,500 on 31st March, 2017.
ANSWER:
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Question 21:
Arrange assets in order of permanence:
Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.
ANSWER:
Assets in the order of Permanence:
1. Goodwill
2. Land and Building
3. Plant and Machinery
4. Motor Vehicle
5. Loose Tools
6. Furniture
7. Investment (Long-term)
8. Stock
9. Sundry Debtors
10. Marketable Securities (Short-term)
11. Cash at Bank
12. Cash in Hand

The document Financial Statements (Part - 2) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course DK Goel Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

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