[CBSE] Q 15, Q 16 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2025-26)

Solution of Question number 15 and 16 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2025-26?

Q. 15. From the following, prepare Profit & Loss Account of Gurman for the year ended 31st March, 2025:

	₹		₹
Salaries and Wages Commission Paid Postage and Courier Insurance Interest Paid Carriage Outwards	30,000 2,000 1,500 3,000 4,000 5,000	Advertising Discount Allowed Rent Received Interest on Investment Bad Debts Travelling Expenses	10,000 18,000 17,000 15,000 9,000 950

The Gross Profit was 45% of Sales. Which amounted to ₹ 6,50,000.

[Net Profit – ₹ 2,41,050.]

Also Pass the Journal entries.

Solution:-

Q. 16. From the following information, prepare Profit & Loss Account for the year ended 31st March, 2025:

	₹		₹
Gross Profit Rent Salary Commission Paid Interest on Loan Advertisement Interest Received Discount Allowed A/c	1,30,000 5,000 35,000 19,000 5,000 8,000 8,000 2,000	Discount Received Printing and Stationery Legal Charges Office Expenses Loss by Fire Depreciation Miscellaneous Income	6,000 14,000 10,000 2,000 6,000 4,000 2,000

[Net Profit – ₹ 36,000.]

Solution:-

Here is the list of all Solutions.

S.N	Solutions
1	Question – 1, 2
2	Question – 3, 4
3	Question – 5, 6
4	Question – 7, 8
5	Question – 9, 10
6	Question – 11, 12
7	Question – 13, 14
8	Question – 15, 16
9	Question – 17, 18
10	Question – 19, 20

S.N	Solutions
11	Question – 21, 22
12	Question – 23, 24
13	Question – 25, 26
14	Question – 27, 28
15	Question – 29, 30