[DK Goel] Q. 11 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 11 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

Give Journal entries for the following adjustments in final accounts:

(i) Salaries ₹ 5,000 are outstanding.

(ii) Insurance amounting to ₹ 2,000 is paid in advance.

(iii) ₹ 4,000 for rent have been received in advance.

(iv) Commission earned but not received ₹ 1,000.

(v) Interest on capital ₹ 1,500.

(vi) Interest on Drawings ₹ 300.

(vii) Write off ₹ 2,000 as further bad-debts.

(viii) Closing stock ₹ 3,000

Solution:-