Question No 12 Chapter No 19 – D.K Goal 11 Class

Question No 12 Chapter No 19

12.Prepare Profit and Loss Account for the year ended 31st March, 2017 from the following particulars:-

Particulars		Particulars
General expenses	12,000	Gross profit	7,69,000
Charity	3,000	Carriage Outwards	20,000
Office Lighting	5,000	Office Expenses	16,000
Law Charges	5,800	Fire Insurance Premium	18,000
Advertisement	14,200	Telephone Expenses	13,500
Bank charges	1,200	Establishment expenses	2,500
Commission	7,000	Miscellaneous Expenses	7,100
Rent, Rates and Taxes	30,000	Discount Received	6,200
Interest on investments	12,000	Traveler’s salary	60,000
Sundry Receipts	6,000	Repair	4,300
Indirect expenses	2,100	Commission Cr	2,000
Printing and Stationery	1,500

The solution of Question No 12 Chapter No 19: –

Profit & Loss Account
Particular		Amount	Particular		Amount
To General Expenses		12,000	By Gross Profit		7,69,000
To Charity		3,000	By Interest on Investments		12,000
To Office Lighting		5,000	By Sundry Receipts		6,000
To Law Charges		5,800	By Discount Received		6,200
To Advertisement		14,200	By Commission Received		2,000
To Bank Charges		1,200
To Commission		7,000
To Rent, Rates and Taxes		30,000
To Indirect Expenses		2,100
To Printing & Stationery		1,500
To Carriage Outwards		20,000
To Office Expenses		16,000
To Fire Insurance Premium		18,000
To Telephone Expenses		13,500
To Establishment Expenses		2,500
To Miscellaneous Expenses		7,100
To Traveler’s Salary		60,000
To Repair		4,300
To Net Profit		5,72,000
		7,95,200			7,95,200

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Also, Check out the solved question of all Chapters: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• Chapter 1 Evolution of Accounting & Basic Accounting Terms
• Chapter 2 Accounting Equations
• Chapter 3 Meaning and Objectives of Accounting
• Chapter 4 Double Entry System
• Chapter 5 Books of Original Entry – Journal 
• Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
• Chapter 7 Books of Original Entry – Cash Book (Coming soon)
• Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
• Chapter 9 Ledger (Coming soon)
• Chapter 10 Trial Balance and Errors (Coming soon)
• Chapter 11 Bank Reconciliation Statement (Coming soon)
• Chapter 12 Depreciation (Coming soon)
• Chapter 13 Bills of Exchange (Coming soon)
• Chapter 14 Generally Accepted Accounting Principles(GAAP) 
• Chapter 15 Bases of Accounting
• Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
• Chapter 17 Capital and Revenue 
• Chapter 18 Provisions and Reserves 
• Chapter 19 Final Accounts (Coming soon)
• Chapter 20 Final Accounts – With Adjustments (Coming soon)
• Chapter 21 Errors and their Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

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