{"id":331417,"date":"2021-02-03T00:37:48","date_gmt":"2021-02-02T19:07:48","guid":{"rendered":"https:\/\/leverageedu.com\/blog\/?p=331417"},"modified":"2025-11-24T16:11:03","modified_gmt":"2025-11-24T10:41:03","slug":"financial-statement","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/blog\/financial-statement\/","title":{"rendered":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements"},"content":{"rendered":"\n<p>Financial statements, as the word is self-explanatory, are those statements that show a clear picture of profitability (income statement) and financial position (balance sheet) of the business at the end of an accounting period. As we always say that though accountancy or accounts is a practical subject, its theory is equally important to understand. Hence, the theory of Accountancy can not be ignored for a better understanding and working. To understand the concepts and theory related to Financial Statement Class 11, both of which are chapters of Class 11, read this blog till the end so that you are thorough with the concepts.&nbsp;<\/p>\n\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-financial-statement\"><span id=\"what-is-a-financial-statement\">What is a Financial Statement?<\/span><\/h2>\n\n\n\n<p>In Class 11 Accountancy, the concept of financial statements is introduced to explain how a business reports its financial performance and position. A financial statement is essentially a formal record that summarises the financial activities of an organisation. It shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>What the business owns and owes on a particular date<\/strong>, and<\/li>\n\n\n\n<li><strong>How much profit or loss was earned over a specific period<\/strong><\/li>\n<\/ul>\n\n\n\n<p>According to accounting principles, financial statements present the results of business operations and the financial status of the firm in a structured and understandable manner.<\/p>\n\n\n\n<p>A complete set of financial statements mainly consists of three parts:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Income Statement (or Statement of Profit and Loss)<\/strong> \u2013 shows revenue, expenses, and the resulting profit or loss for a given time period.<\/li>\n\n\n\n<li><strong>Statement of Financial Position (or Balance Sheet)<\/strong> \u2013 presents the assets, liabilities, and owner\u2019s capital of the business on a specific date.<\/li>\n\n\n\n<li><strong>Schedules and Notes to Accounts<\/strong> \u2013 provide detailed explanations and additional information related to items shown in the Income Statement and Balance Sheet.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-objectives-of-preparing-financial-statements\"><span id=\"objectives-of-preparing-financial-statements\">Objectives Of Preparing Financial Statements<\/span><\/h2>\n\n\n\n<p>As per the Financial Statement class 11 chapters, the main objectives to prepare a financial statement at the end of an accounting period are as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To present a fair and true view of the financial performance of the business, i.e., the profits and the losses at the end of the financial period.<\/li>\n\n\n\n<li>To present a true and fair view of the financial position of the business, i.e., the assets and the liabilities at the end of the financial period.&nbsp;<\/li>\n\n\n\n<li>Management uses them to decide on expansion, cost-cutting, or investments.<\/li>\n\n\n\n<li>Financial statements make it easy to compare performance year-to-year or with other companies in the same industry.<\/li>\n\n\n\n<li>Investors and banks rely on these statements to check if the business is worth funding.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-capital-expenditure-vs-revenue-expenditure-vs-deferred-revenue-expenditure\"><span id=\"capital-expenditure-vs-revenue-expenditure-vs-deferred-revenue-expenditure\">Capital Expenditure vs Revenue Expenditure vs Deferred Revenue Expenditure<\/span><\/h2>\n\n\n\n<p>In Class 11 Financial Statements, it is important to distinguish between capital expenditure, revenue expenditure, and deferred revenue expenditure.<\/p>\n\n\n\n<p>Capital expenditures are costs incurred by a business that provide benefits for more than one year. These are recorded on the assets side of the balance sheet. Examples include purchasing fixed assets, acquiring goodwill, or reducing long-term liabilities.<\/p>\n\n\n\n<p>In contrast, revenue expenditures are recurring expenses that are necessary for the day-to-day operations of a business and help maintain its earning capacity. These are recorded on the debit side of the income statement, including the Trading Account and Profit &amp; Loss Account. Examples include purchases of goods during the year, salaries, wages, postage, and carriage expenses.<\/p>\n\n\n\n<p>Deferred revenue expenditures are expenses that are revenue in nature, but are substantial in amount and provide benefits over several years. Examples include heavy spending on advertising, promotions, or launching a new product or service.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <a href=\"https:\/\/leverageedu.com\/discover\/school-education\/cbse-notes-and-ncert-solutions-class-10-mathematics\/\">CBSE Notes and NCERT Solutions Class 10 Mathematics<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-capital-receipts-vs-revenue-receipts\"><span id=\"capital-receipts-vs-revenue-receipts\">Capital Receipts vs Revenue Receipts<\/span><\/h2>\n\n\n\n<p>Capital receipts refer to funds received by a business that are non-recurring in nature and do not influence the Profit and Loss Account. Instead of affecting the business\u2019s income, they either increase the company\u2019s liabilities (for example, loans raised) or decrease its fixed assets (such as the sale of long-term assets). Therefore, capital receipts appear on the balance sheet, not in the income statement.<\/p>\n\n\n\n<p>In contrast, revenue receipts are amounts received during the normal and routine operations of a business. These include earnings from sales of goods and services, commission received, rent, and similar income sources. Since they arise from day-to-day business activities, revenue receipts are recorded in the Profit and Loss Account and contribute to the business\u2019s overall profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-types-of-expenses-nbsp\"><span id=\"types-of-expenses\">Types Of Expenses&nbsp;<\/span><\/h2>\n\n\n\n<p>As per the financial statement class 11, expenses can be categorised into 2 categories. These categories are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Direct expenses<\/strong>: Direct expenses are costs that are directly associated with the production or purchase of goods. These include expenses required to convert raw materials into finished products. Examples are manufacturing wages, production costs, and similar expenditures. Direct expenses are recorded on the debit side of the Trading Account.<\/li>\n\n\n\n<li><strong>Indirect expenses<\/strong>: Indirect expenses are costs that are not directly linked to the production or purchase of goods or services. Instead, they relate to administration, office operations, selling and distribution, and financial activities. These expenses are recorded on the debit side of the Profit and Loss Account.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-some-important-formulas-nbsp\"><span id=\"some-important-formulas\">Some Important Formulas&nbsp;<\/span><\/h2>\n\n\n\n<p>Mentioned below are some important formulas which are related to financial statements. You can have a look here:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gross Profit Net <\/strong><span style=\"margin: 0px;padding: 0px\"><strong>Sales<\/strong><\/span>= Cost of Goods Sold (COGS)<\/li>\n\n\n\n<li><strong>Net Sales Total Sales<\/strong>= Sales Return&nbsp;<\/li>\n\n\n\n<li><strong>Cost of Goods Sold (COGS)<\/strong>= Opening Stock + Net Purchases + Direct Expenses &#8211; Closing Stock<\/li>\n\n\n\n<li><strong>Net Purchases<\/strong>= Total Purchases- Purchases Return&nbsp;<\/li>\n\n\n\n<li><strong>Operating Profit<\/strong>=Net sales- Operating Cost<\/li>\n\n\n\n<li><strong>Operating Profit<\/strong>= Gross Profit- (office and administration expenses + selling and distribution expenses)<\/li>\n\n\n\n<li><strong>Net Profit<\/strong>= Operating Profit + Non-operating income &#8211; Non-operating expenses<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Note<\/strong>: Operating Profits are also known as EBIT (Earnings before interest and taxes)&nbsp;<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-income-statements\"><span id=\"what-are-income-statements\">What are Income Statements?<\/span><\/h2>\n\n\n\n<p>According to the financial statement class 11 chapters, the income statements are prepared by the organisation or a business to ascertain correct and accurate gross profits or losses and net profits or losses during an accounting period. The income statements are further divided into two accounts or parts:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trading Account:<\/strong> The trading account shows the gross profits earned or gross losses incurred by the business during a financial year.&nbsp;<\/li>\n\n\n\n<li><strong>Profit and Loss Account:<\/strong> The P\/L Account shows the net profits earned or net losses incurred by the business during a financial period.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-format-of-trading-account-nbsp\"><span id=\"format-of-trading-account\">Format Of Trading Account&nbsp;<\/span><\/h2>\n\n\n\n<p>There is a particular format which is followed in a trading account. It is mentioned in great detail in the Financial Statement class 11 chapters. You can check it out here.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Trading Account of XYZ Pvt. Ltd.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>For the year ending 31st March 2025<\/strong><\/p>\n\n\n\n<p>Dr.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Cr.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fcf0ef\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><td><strong>Particulars<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><\/tr><tr><td>To opening stock<\/td><td><\/td><td>By sales&nbsp;<\/td><td><\/td><\/tr><tr><td>To purchases&nbsp;<\/td><td><\/td><td>By closing stock&nbsp;<\/td><td><\/td><\/tr><tr><td>To wages&nbsp;<\/td><td><\/td><td>By scrap sales&nbsp;<\/td><td><\/td><\/tr><tr><td>To carriage inward&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To Freight inwards<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To cartage&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To fuel and power<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To octroi charges&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>Tio other direct expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To Gross Profit t\/f to P\/L A\/c<\/td><td>xxx<\/td><td>By loss t\/f to P\/L A\/c<\/td><td>xxx<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-format-of-trading-account-nbsp-0\"><span id=\"format-of-trading-account-2\">Format Of Trading Account&nbsp;<\/span><\/h2>\n\n\n\n<p>Tabulated below is the format of trading accounts related to profit and loss accounts. Have a look here.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Profit and Loss Account of XYZ Pvt. Ltd.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>For the year ending 31st March 2025<\/strong><\/p>\n\n\n\n<p>Dr. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Cr.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#e9fbe5\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><td><strong>Particulars<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><\/tr><tr><td>To gross loss t\/f from Trading A\/c<\/td><td><\/td><td>By gross profit t\/f from Trading A\/c<\/td><td><\/td><\/tr><tr><td>To salaries&nbsp;<\/td><td><\/td><td>By rent received<\/td><td><\/td><\/tr><tr><td>To rent&nbsp;<\/td><td><\/td><td>By discount received&nbsp;<\/td><td><\/td><\/tr><tr><td>To printing and stationery&nbsp;<\/td><td><\/td><td>By commission received&nbsp;<\/td><td><\/td><\/tr><tr><td>To postages and telephones<\/td><td><\/td><td>By interest received&nbsp;<\/td><td><\/td><\/tr><tr><td>To electricity bill<\/td><td><\/td><td>By dividend received&nbsp;<\/td><td><\/td><\/tr><tr><td>To insurance premium&nbsp;<\/td><td><\/td><td>By bad debts recovered&nbsp;<\/td><td><\/td><\/tr><tr><td>To legal expenses&nbsp;<\/td><td><\/td><td>By gain on sale of fixed assets&nbsp;<\/td><td><\/td><\/tr><tr><td>To establishment expenses&nbsp;<\/td><td><\/td><td>By miscellaneous receipts&nbsp;<\/td><td><\/td><\/tr><tr><td>To trade expenses&nbsp;<\/td><td><\/td><td>By Net Loss t\/f to Capital A\/c (if Dr. &gt; Cr. side)<\/td><td><\/td><\/tr><tr><td>To audit fee<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To travelling expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To general expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To carriage and freight outwards&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To commission&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To brokerage&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To advertisement&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To bad debts&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To export duty&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To export duty&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To packing expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To interest paid&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To discounts given&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To bank charges&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To repairs&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To depreciation on fixed assets&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To conveyance expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To donations and charity&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To loss on sale of fixed assets&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To entertainment expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To loss by fire&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To loss by theft&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To other miscellaneous expenses&nbsp;<\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td>To Net Profit t\/f to Capital A\/c (if Cr. &gt; Dr. side)<\/td><td><\/td><td><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <a href=\"https:\/\/leverageedu.com\/explore\/online-courses\/financial-accounting-online-courses\/\">10 Best Financial Accounting Online Courses to Apply Today<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-balance-sheet\"><span id=\"what-is-a-balance-sheet\">What is a Balance Sheet?<\/span><\/h2>\n\n\n\n<p>According to the financial statement class 11 chapters, a balance sheet is a summarised statement of assets and liabilities that is prepared at the end of the financial year. It is made to show the financial position of the business or the organisation. All the assets are placed on the right side of the balance sheet, and all the liabilities at the left side. Please remember these points:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The assets are arranged in order of liquidity in the balance sheet. This means that the most liquid asset, such as cash in hand, is shown first and the least liquid assets, such as the goodwill, are shown last.&nbsp;<\/li>\n\n\n\n<li>The liabilities are arranged in the order of timing. This means that the liabilities which are to be paid immediately or at first are shown first, such as the creditors and the liabilities which are to be paid later are shown last, such as long-term loans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-format-of-the-balance-sheet-nbsp\"><span id=\"format-of-the-balance-sheet\">Format of the Balance Sheet&nbsp;<\/span><\/h2>\n\n\n\n<p>Moving further in the financial statement chapters, class 11 chapters, we have the format of the balance sheet. It is tabulated below.&nbsp;<\/p>\n\n\n\n<p><strong>Balance Sheet of XYZ Pvt. Ltd.<\/strong><\/p>\n\n\n\n<p><strong>As at 31st March 2025<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fcf0ef\"><tbody><tr><td><strong>Liabilities&nbsp;<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><td><strong>Assets&nbsp;<\/strong><\/td><td><strong>Amount (INR)<\/strong><\/td><\/tr><tr><td>Bank overdraft&nbsp;<\/td><td><\/td><td>Cash in hand&nbsp;<\/td><td><\/td><\/tr><tr><td>Bills payable&nbsp;<\/td><td><\/td><td>Cash at bank&nbsp;<\/td><td><\/td><\/tr><tr><td>Sundry creditors&nbsp;<\/td><td><\/td><td>Bills receivable&nbsp;<\/td><td><\/td><\/tr><tr><td>Outstanding expenses&nbsp;<\/td><td><\/td><td>Short-term investment&nbsp;<\/td><td><\/td><\/tr><tr><td>Income received in advance&nbsp;<\/td><td><\/td><td>Sundry debtors&nbsp;<\/td><td><\/td><\/tr><tr><td>Long-term loans&nbsp;<\/td><td><\/td><td>Prepaid expenses&nbsp;<\/td><td><\/td><\/tr><tr><td>Capital&nbsp;<\/td><td><\/td><td>Accrued income&nbsp;<\/td><td><\/td><\/tr><tr><td>Add: Interest on capital&nbsp;<\/td><td><\/td><td>Closing stock&nbsp;<\/td><td><\/td><\/tr><tr><td>Add: net profit&nbsp;<\/td><td><\/td><td>Furniture and Fixtures<\/td><td><\/td><\/tr><tr><td>Less: drawings&nbsp;<\/td><td><\/td><td>Plant and Machinery&nbsp;<\/td><td><\/td><\/tr><tr><td>Less: net loss<\/td><td><\/td><td>Building&nbsp;<\/td><td><\/td><\/tr><tr><td>Less: income tax&nbsp;<\/td><td><\/td><td>Land&nbsp;<\/td><td><\/td><\/tr><tr><td><\/td><td><\/td><td>Goodwill&nbsp;<\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-important-adjustments-at-a-glance-nbsp\"><span id=\"important-adjustments-at-a-glance\">Important Adjustments At A Glance&nbsp;<\/span><\/h2>\n\n\n\n<p>The Financial Statements \u2013 I chapter in Class 11 focuses mainly on the theoretical aspects of financial statements. It explains the basic purpose and use of income statements and balance sheets (position statements) in a business or organisation. On the other hand, Financial Statements \u2013 II in Class 11 deals with the practical side of financial statements. This chapter highlights the important adjustments and their application in solving numerical problems, helping students learn how financial statements are prepared in real business situations.<\/p>\n\n\n\n<p>To make learning simpler and avoid confusion, the revision notes for Financial Statements \u2013 I and Financial Statements \u2013 II of Class 11 have been combined. The table provided below offers a comprehensive summary of the important adjustments, adjustment entries, and their treatment in the Trading Account, Profit and Loss Account, and Balance Sheet. It serves as an excellent tool for quick revision, especially before exams.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#e9fbe5\"><tbody><tr><td><strong>Adjustment&nbsp;<\/strong><\/td><td><strong>Adjustment entry&nbsp;<\/strong><\/td><td><strong>Treatment in the Trading A\/c&nbsp;<\/strong><\/td><td><strong>Treatment in the Profit and Loss A\/c&nbsp;<\/strong><\/td><td><strong>Treatment in Balance Sheet&nbsp;<\/strong><\/td><\/tr><tr><td><strong>Closing stock&nbsp;<\/strong><\/td><td>Closing stock A\/c\u2026\u2026Dr.To Trading A\/c<\/td><td>Shown on the credit side&nbsp;<\/td><td><\/td><td>Shown on the assets side&nbsp;<\/td><\/tr><tr><td><strong>Outstanding expenses&nbsp;<\/strong><\/td><td>Expenses A\/c\u2026\u2026\u2026..Dr.To O\/s Expenses A\/c&nbsp;<\/td><td>Shown on the debit side&nbsp;<\/td><td>Shown on the debit side&nbsp;<\/td><td>Shown on the liabilities side&nbsp;<\/td><\/tr><tr><td><strong>Prepaid or unexpired expenses&nbsp;<\/strong><\/td><td>Prepaid expenses A\/cTo Expenses A\/c<\/td><td>Deducted from respective expenses on the debit side&nbsp;<\/td><td>Deducted from respective expenses on the debit side<\/td><td>Shown on the assets side&nbsp;<\/td><\/tr><tr><td><strong>Depreciation&nbsp;<\/strong><\/td><td>Depreciation A\/c\u2026\u2026.Dr.To assets A\/c&nbsp;<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Deducted from the asset on the asset side<\/td><\/tr><tr><td><strong>Accrued Income&nbsp;<\/strong><\/td><td>Accrued income A\/c&#8230;Dr.To income A\/c<\/td><td><\/td><td>Added to the respective income on the credit side&nbsp;&nbsp;<\/td><td>Shown on the assets side&nbsp;<\/td><\/tr><tr><td><strong>Unearned income&nbsp;<\/strong><\/td><td>Income A\/c\u2026\u2026\u2026\u2026&#8230;Dr.To unearned income A\/c&nbsp;<\/td><td><\/td><td>Deducted from the respective income on the credit side&nbsp;<\/td><td>Shown on the liabilities side&nbsp;<\/td><\/tr><tr><td><strong>Interest on capital&nbsp;<\/strong><\/td><td>Interest on Capital A\/cTo capital A\/c&nbsp;<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Added to the capital on the liabilities side<\/td><\/tr><tr><td><strong>Interest on drawings&nbsp;<\/strong><\/td><td>Interest on Drawings A\/cTo drawings A\/c<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Added to drawings and then deducted from the Capital on the liabilities side<\/td><\/tr><tr><td><strong>Interest on loan&nbsp;<\/strong><\/td><td>Interest on loan A\/c\u2026Dr.To loan A\/c&nbsp;<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Added to the loan on the liabilities side&nbsp;<\/td><\/tr><tr><td><strong>Further bad debts&nbsp;<\/strong><\/td><td>Bad debts A\/c\u2026\u2026\u2026.Dr.To sundry debtors A\/c<\/td><td><\/td><td>Added to bad debts on the debit side&nbsp;<\/td><td>Deducted from debtors on the assets side&nbsp;<\/td><\/tr><tr><td><strong>Provision for doubtful debts&nbsp;<\/strong><\/td><td>Profit &amp; Loss A\/c\u2026\u2026.Dr.To provision for doubtful debts A\/c<\/td><td><\/td><td>Added to bed debts on the debit side&nbsp;<\/td><td>Deducted from debtors on the asset side&nbsp;<\/td><\/tr><tr><td><strong>Provision for discount on debtors&nbsp;<\/strong><\/td><td>Profit &amp; Loss A\/c\u2026\u2026.Dr.To provision for discount on debtors A\/c<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Deducted from debtors on the asset side&nbsp;<\/td><\/tr><tr><td><strong>Abnormal loss of stock&nbsp;<\/strong><\/td><td>Insurance Co. A\/c\u2026&#8230;Dr.Profit &amp; Loss A\/c\u2026\u2026.Dr.<br>To purchases A\/c&nbsp;<\/td><td>Total amount of loss will be deducted from the purchases on the debit side&nbsp;<\/td><td>Amount recovered from the insurance company is shown on the debit side&nbsp;<\/td><td>Amount recovered from the insurance company is shown on the asset side&nbsp;<\/td><\/tr><tr><td><strong>Charity in the form of goods&nbsp;<\/strong><\/td><td>Insurance Co. A\/c\u2026&#8230;Dr.Profit &amp; Loss A\/c\u2026\u2026.Dr.<br>To purchase A\/c&nbsp;<\/td><td>Deducted from purchases on the debit side&nbsp;<\/td><td>Shown on the debit side&nbsp;<\/td><td><\/td><\/tr><tr><td><strong>Goods distributed as free samples&nbsp;<\/strong><\/td><td>Charity A\/c\u2026\u2026\u2026\u2026&#8230;Dr.To purchase A\/c<\/td><td>Deducted from purchases on the debit side&nbsp;<\/td><td>Shown on the debit side&nbsp;<\/td><td><\/td><\/tr><tr><td><strong>Drawings in goods&nbsp;<\/strong><\/td><td>Free samples A\/c\u2026\u2026Dr.To purchase A\/c<\/td><td>Deducted from purchases on the debit side&nbsp;<\/td><td><\/td><td>Deducted from the capital on the liabilities side&nbsp;<\/td><\/tr><tr><td><strong>Manager\u2019s commission&nbsp;<\/strong><\/td><td>Manager&#8217;s commission A\/cTo o\/s commission A\/c&nbsp;<\/td><td><\/td><td>Shown on the debit side&nbsp;<\/td><td>Shown on the liabilities side&nbsp;<\/td><\/tr><tr><td><strong>Goods sold but omitted to be recorded&nbsp;<\/strong><\/td><td>Debtors A\/c\u2026\u2026.\u2026\u2026.Dr.To sales A\/c<\/td><td>Added to the sales on the credit side&nbsp;<\/td><td><\/td><td>Added to the debtors on the assets side&nbsp;<\/td><\/tr><tr><td><strong>Goods purchased but omitted to be recorded&nbsp;<\/strong><\/td><td>Purchases A\/c\u2026\u2026\u2026.Dr.To creditors A\/c<\/td><td>Added to purchases on the debit side&nbsp;<\/td><td><\/td><td>Added to creditors on the liabilities side&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1756725172049\"><strong class=\"schema-faq-question\">What are the financial statements in class 11?<\/strong> <p class=\"schema-faq-answer\">In class 11, the main financial statements are the Trading Account, Profit and Loss Account, and Balance Sheet. These show the business\u2019s performance and financial position in a simple way.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756725175049\"><strong class=\"schema-faq-question\">What is the syllabus of NCERT class 11?<\/strong> <p class=\"schema-faq-answer\">The NCERT class 11 syllabus includes Accountancy, Economics, Business Studies, English, and optional subjects like Mathematics or Informatics Practices. Each subject builds a strong base for higher studies and competitive exams.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756725176652\"><strong class=\"schema-faq-question\">Which is the hardest chapter in class 11 accountancy?<\/strong> <p class=\"schema-faq-answer\">Many students find Depreciation Accounting and Financial Statements challenging because they involve calculations and adjustments. But with practice and examples, these chapters become much easier to handle.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756725178876\"><strong class=\"schema-faq-question\">What are the limitations of financial statement analysis?<\/strong> <p class=\"schema-faq-answer\">Financial statement analysis has limitations like ignoring non-financial factors, inflation effects, and future uncertainties. It shows past performance only, so it cannot predict exact future results.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756725184881\"><strong class=\"schema-faq-question\">Why is class 11 important for commerce students?<\/strong> <p class=\"schema-faq-answer\">Class 11 is important because it builds the foundation of commerce subjects like Accountancy, Economics, and Business Studies, which are crucial for class 12, college, and professional courses like CA or MBA.<\/p> <\/div> <\/div>\n\n\n\n<p><strong>Related Reads:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><a href=\"https:\/\/leverageedu.com\/learn\/accounting-management\/\"><strong>Accounting Management: Meaning, Courses, Salary &amp; Scope<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/learn\/corporate-accounting\/\"><strong>Corporate Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/learn\/msc-finance-in-ireland\/\"><strong>MSc Finance in Ireland<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/learn\/masters-in-accounting-analytics\/\"><strong>Master&#8217;s in Accounting Analytics Abroad<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/learn\/mba-in-financial-management\/\"><strong>MBA in Financial Management<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/learn\/student-visa\/\"><strong>Student Visa: Cost, Requirements, Application Process<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>This brings us to the end of this blog on the financial statement class 11 study and revision notes. Even though both chapters are lengthy, notes help us memorise the important parts. Are you worried about selecting the right stream after class 12th? If you are looking for a career that perfectly suits you, get in touch with our<a href=\"https:\/\/leverageedu.com\/\"><strong> Leverage Edu<\/strong> <\/a>experts and sign up for a free session today!&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"Financial statements, as the word is self-explanatory, are those statements that show a clear picture of profitability (income&hellip;\n","protected":false},"author":14,"featured_media":822558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[5597,18298,29523],"tags":[],"class_list":{"0":"post-331417","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-accountancy","8":"category-cbse-guide","9":"category-class-11th"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements<\/title>\n<meta name=\"description\" content=\"Financial Statement: Types Of Financial Statements, Of A Company, Format, PDF, Examples, Analysis, Template, What Are The Four Basic Types?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leverageedu.com\/blog\/financial-statement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements\" \/>\n<meta property=\"og:description\" content=\"Financial Statement: Types Of Financial Statements, Of A Company, Format, PDF, Examples, Analysis, Template, What Are The Four Basic Types?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leverageedu.com\/blog\/financial-statement\/\" \/>\n<meta property=\"og:site_name\" content=\"Leverage Edu\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-02T19:07:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-24T10:41:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Team Leverage Edu\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements","description":"Financial Statement: Types Of Financial Statements, Of A Company, Format, PDF, Examples, Analysis, Template, What Are The Four Basic Types?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/leverageedu.com\/blog\/financial-statement\/","og_locale":"en_US","og_type":"article","og_title":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements","og_description":"Financial Statement: Types Of Financial Statements, Of A Company, Format, PDF, Examples, Analysis, Template, What Are The Four Basic Types?","og_url":"https:\/\/leverageedu.com\/blog\/financial-statement\/","og_site_name":"Leverage Edu","article_published_time":"2021-02-02T19:07:48+00:00","article_modified_time":"2025-11-24T10:41:03+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp","type":"image\/webp"}],"author":"Team Leverage Edu","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#article","isPartOf":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/"},"author":{"name":"Team Leverage Edu","@id":"https:\/\/leverageedu.com\/blog\/#\/schema\/person\/2ff73e58c003b112c432ff6dd6ee01cb"},"headline":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements","datePublished":"2021-02-02T19:07:48+00:00","dateModified":"2025-11-24T10:41:03+00:00","mainEntityOfPage":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/"},"wordCount":2906,"commentCount":6,"image":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#primaryimage"},"thumbnailUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp","articleSection":["Accountancy","CBSE Guide","Class 11th"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/leverageedu.com\/blog\/financial-statement\/#respond"]}]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/","url":"https:\/\/leverageedu.com\/blog\/financial-statement\/","name":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements","isPartOf":{"@id":"https:\/\/leverageedu.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#primaryimage"},"image":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#primaryimage"},"thumbnailUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp","datePublished":"2021-02-02T19:07:48+00:00","dateModified":"2025-11-24T10:41:03+00:00","author":{"@id":"https:\/\/leverageedu.com\/blog\/#\/schema\/person\/2ff73e58c003b112c432ff6dd6ee01cb"},"description":"Financial Statement: Types Of Financial Statements, Of A Company, Format, PDF, Examples, Analysis, Template, What Are The Four Basic Types?","breadcrumb":{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725172049"},{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725175049"},{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725176652"},{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725178876"},{"@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725184881"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/leverageedu.com\/blog\/financial-statement\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#primaryimage","url":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp","contentUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/2021\/02\/01163732\/NCERT-Notes-Class-11-Accountancy-Chapter-8-9-Financial-Statements-1.webp","width":1024,"height":640,"caption":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9 Financial Statements"},{"@type":"BreadcrumbList","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/leverageedu.com\/blog\/"},{"@type":"ListItem","position":2,"name":"NCERT Notes Class 11 Accountancy Chapter 8 &amp; 9: Financial Statements"}]},{"@type":"WebSite","@id":"https:\/\/leverageedu.com\/blog\/#website","url":"https:\/\/leverageedu.com\/blog\/","name":"Leverage Edu","description":"We Help Build Awesome Careers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/leverageedu.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/leverageedu.com\/blog\/#\/schema\/person\/2ff73e58c003b112c432ff6dd6ee01cb","name":"Team Leverage Edu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/983552bac71f3399788c36183b7463c46a949abb3f22384efb7f79d62d60cfb3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/983552bac71f3399788c36183b7463c46a949abb3f22384efb7f79d62d60cfb3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/983552bac71f3399788c36183b7463c46a949abb3f22384efb7f79d62d60cfb3?s=96&d=mm&r=g","caption":"Team Leverage Edu"},"url":"https:\/\/leverageedu.com\/blog\/author\/leverageedu\/"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725172049","position":1,"url":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725172049","name":"What are the financial statements in class 11?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"In class 11, the main financial statements are the Trading Account, Profit and Loss Account, and Balance Sheet. These show the business\u2019s performance and financial position in a simple way.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725175049","position":2,"url":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725175049","name":"What is the syllabus of NCERT class 11?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The NCERT class 11 syllabus includes Accountancy, Economics, Business Studies, English, and optional subjects like Mathematics or Informatics Practices. Each subject builds a strong base for higher studies and competitive exams.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725176652","position":3,"url":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725176652","name":"Which is the hardest chapter in class 11 accountancy?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Many students find Depreciation Accounting and Financial Statements challenging because they involve calculations and adjustments. But with practice and examples, these chapters become much easier to handle.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725178876","position":4,"url":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725178876","name":"What are the limitations of financial statement analysis?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Financial statement analysis has limitations like ignoring non-financial factors, inflation effects, and future uncertainties. It shows past performance only, so it cannot predict exact future results.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725184881","position":5,"url":"https:\/\/leverageedu.com\/blog\/financial-statement\/#faq-question-1756725184881","name":"Why is class 11 important for commerce students?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Class 11 is important because it builds the foundation of commerce subjects like Accountancy, Economics, and Business Studies, which are crucial for class 12, college, and professional courses like CA or MBA.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"acf":[],"_links":{"self":[{"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/posts\/331417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/comments?post=331417"}],"version-history":[{"count":16,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/posts\/331417\/revisions"}],"predecessor-version":[{"id":828364,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/posts\/331417\/revisions\/828364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/media\/822558"}],"wp:attachment":[{"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/media?parent=331417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/categories?post=331417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leverageedu.com\/blog\/wp-json\/wp\/v2\/tags?post=331417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}