[DK Goel] Q. 30 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)
Solutions of Question number 30 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)
Prepare a trading and profit & loss account of M/s Green Club Ltd. for the year and a Balance Sheet as at that date from the following figures taken from their trial balance:
| Debit Balances | ₹ | Credit Balances | ₹ |
| Opening Stock | 1,25,000 | Sales | 2,50,000 |
| Purchases | 35,000 | Purchase Return | 6,000 |
| Return Inward | 25,000 | Creditors | 55,000 |
| Postage | 600 | Capital | 3,30,000 |
| Salary | 12,300 | Discount Received | 1,000 |
| Wages | 3,000 | Provision for bad debts | 4,500 |
| Rent and rates | 1,000 | Commission received | 5,400 |
| Packing and transport | 500 | ||
| General Expenses | 400 | ||
| Insurnace | 4,000 | ||
| Debtors | 50,000 | ||
| Cash in hand | 20,000 | ||
| Closing Stock | 40,000 | ||
| Machinery | 3,00,000 | ||
| Lighting | 5,000 | ||
| Discount | 3,500 | ||
| Bad Debts | 3,500 | ||
| Investments | 23,100 | ||
| 6,51,900 | 6,51,900 |
Adjustments:
(i) Depreciation charged on Machinery @ 10% p.a.
(ii) Further Bad-debts ₹ 1,500, provision for discount on debtors @ 5% and provision for Doubtful Debts on debtors @ 6%
(iii) Wages prepaid ₹ 1,000.
(iv) Interest on investments @ 5% p.a.
[Ans. Gross Profit ₹ 69,000; Net Profit ₹ 13,565; Balance Sheet Total ₹ 3,98,565.]
Solution:-
