[CBSE] Q 2 Adjustments in Preparation of Financial Statement Solution TS Grewal Class 11 (2023-24)

Solution of Question number 2 of the Adjustments in Preparation of Financial Statements of TS Grewal Book class 11, 2023-24?

Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2023:

Capital Creditors Returns Outward Sales Plant and Machinery Sundry Debtors Drawings Purchases Returns Inward

1,00,000 17,000 5,000 1,64,000 40,000 24,000 10,000 1,05,000 3,000

Wages Bank Repairs Stock on 1st April, 2021 Rent Manufacturing Expenses Trade Expenses Bad Debts Carriage Inwards Fuel and Power

50,000 10,000 500 20,000 4,000 8,000 7,000 2,000 1,500 1,000

Additional Information:

(i) Closing Stock was valued at ₹ 14,500.

(ii) Depreciate Plant and Machinery by ₹ 4,000.

(iii) Write off Bad Debts ₹ 5,000.

(iv) ₹ 400 is due for repairs.

[Gross Loss – ₹ 5,000; Net Loss – ₹ 27,900; Balance Sheet Total – ₹ 79,500.]

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
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