[CBSE] Q 7 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2023-24)
Solution of Question number 7 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2023-24?
From the following information, prepare Trading Account for the year ended 31st March, 2023:
Adjusted purchases ₹ 6,60,000; Sales ₹ 7,44,000; Closing Stock ₹ 50,400; Freight and Carriage Inwards ₹ 3,600; Wages ₹ 6,000; Freight and Cartage Outwards ₹ 2,000.
[Gross Profit – ₹ 74,400.]
[Hints: 1. Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock.
2. Closing Stock is not shown on the credit side of the Trading Account because it is already adjusted while calculating the adjusted purchases.
3. Freight and Cartage Outwards are indirect expenses and hence are not debited to Trading Account.
Solution:-
Here is the list of all Solutions.
| S.N | Solutions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
| S.N | Solutions |
| 11 | Question – 11 |
| 12 | Question – 12 |
| 13 | Question – 13 |
| 14 | Question – 14 |
| 15 | Question – 15 |
| 16 | Question – 16 |
| 17 | Question – 17 |
| 18 | Question – 18 |
| 19 | Question – 19 |
| 20 | Question – 20 |
| S.N | Questions |
| 21 | Question – 21 |
| 22 | Question – 22 |
| 23 | Question – 23 |
| 24 | Question – 24 |
| 25 | Question – 25 |
