[ISC] Q 15 Sub Division Journal Solutions TS Grewal Class 11 (2023-24)

Solution of Question number 15 of Sub Division Journal TS Grewal class 11 ISC 2023-24?

(Adjustment Entries). From the following information available on 31st March, 2022, pass the necessary Adjustment Entries in the Journal for the year ending on that date:

(i) Interest accrued ₹ 2,500.

(ii) Wages for March, 2022 outstanding ₹ 10,000.

(iii) Insurance prepaid ₹ 1,500.

(iv) Commission due to manager 5% on net profit after charging such commission. The profit before charging such commission was ₹ 1,06,000.

(v) Depreciate motor car with book value ₹ 1,00,000 @ 10% p.a. for one year.

Solution:-

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