DK Goel Solutions Chapter 21 Financial Statements

DK Goel Accountancy Class 11 Solutions Chapter 21 Financial Statements which is outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy books. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required.

DK Goel Accountancy Class 11 Solutions – Chapter 21

Question 1

Prepare a Trading a/c for the year ended 31st March 2017 from the following balances:

Particulars

₹.

Particulars

₹.

Opening stock

2,00,000

Purchases Return

60,000

Purchases

10,00,000

Sales Return

1,00,000

Sales

25,00,000

Carriage on Purchase

40,000

Freight

32,500

Carriage on Sales

50,000

Wages

1,50,000

Factory Rent

2,20,000

Factory Lighting

54,000

Office Rent

37,500

Coal, Gas and Water

11,000

Closing stock: ₹. 3,00,000/-

Solution:

Dr. Trading a/c Cr.

Particulars

₹.

Particulars

₹.

To Opening Stock

2,00,000

By Sales 25,00,000

(-) Sales Returns 1,00,000

24,00,000

To purchases 10,00,000

(-) Purchase Return 60,000

9,40,000

By Closing Stock

3,00,000

To Freight

32,500

To Wages

1,50,000

To Factory Lighting

54,000

To Coal, Gas and Water

11,000

To Carriage on Purchase

40,000

To Factory Rent

2,20,000

To Gross profit transferred to P & L a/c

10,52,500

27,00,000

27,00,000

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