[CBSE] Q 1 Adjustments in Preparation of Financial Statement Solution TS Grewal Class 11 (2023-24)
Solution of Question number 1 of the Adjustments in Preparation of Financial Statements of TS Grewal Book class 11, 2023-24?
Following are the balances extracted from the books of Gurman on 31st March, 2023:
| Capital Drawings Plant and Machinery Delivery Vehicle Sundry Debtors Sundry Creditors Purchases Sales Wages | 1,90,000 7,000 1,20,000 26,000 36,000 49,500 20,000 42,000 8,000 | Cash at Bank Salaries Repairs Stock on 1st April, 2021 Rent Manufacturing Expenses Bad Debts Carriage Inwards | 26,000 8,000 1,900 16,000 4,500 1,500 5,000 1,600 |
Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2023 after following adjustments are made:
(i) Closing Stock was ₹ 16,000
(ii) Depreciate Plant and Machinery @ 10% and Delivery Vehicle @ 15%.
(iii) Unpaid Rent amounted to ₹ 500.
[Gross Profit – ₹ 10,900; Net Loss – ₹ 24,900; Balance Sheet Total – ₹ 2,08,100.]
Solution:-
Here is the list of all Solutions.
