[CBSE] Q 28 Adjustments in Preparation of Financial Statement Solution TS Grewal Class 11 (2025-26)

Solution of Question number 28 of the Adjustments in Preparation of Financial Statements of TS Grewal Book class 11, 2025-26?

Trial Balance of a business as at 31st March, 2025 is given below:

Particulars	Dr. (₹)	Particulars	Cr. (₹)
Stock on 1st April, 2024	2,50,000	Sales	22,78,000
Furniture	80,000	Commission	5,000
Plant and Machinery	15,00,000	Returns Outward	10,000
Debtors	3,00,000	Creditors	4,00,000
Wages	1,20,000	Capital	15,00,000
Salaries	2,00,000
Bad Debts	10,000
Purchases	12,00,000
Electricity Charges	12,000
Telephone Charges	24,000
General Expenses	30,000
Postage Expenses	18,000
Returns Inward	9,000
Insurance Premium	15,000
Cash in Hand	25,000
Cash at Bank	4,00,000
	41,93,000		41,93,000

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2025 and Balance Sheet as at that after taking into account the following adjustments:

(i) Closing Stock was valued at ₹ 70,000.

(ii) Outstanding liabilities for wages were ₹ 6,000 and salaries ₹ 14,000.

(iii) Depreciation is to be provided @ 5% p.a. on all fixed assets.

(iv) Plant and Machinery includes a machine purchased for ₹ 1,00,000 on 1st October, 2024.

(v) Insurance premium paid in advance ₹ 2,000.

[Ans.: Gross Profit – ₹ 7,73,000; Net Profit – ₹ 3,80,500; Balance Sheet Total – ₹ 23,00,500.]

Solution:-

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