[CBSE] Q 12 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 12 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2022-23?

From the following information, prepare Profit & Loss Account for the year ended 31st March, 2022:

Gross Profit
Rent Salary
Commission Paid
Interest on Loan
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Interest Received
Discount Allowed A/c
1,20,000
5,000
35,000
19,000
5,000
8,000
8,000
2,000
Discount Received
Printing and Stationery
Legal Charges
Bad Debts
Loss by Fire
Depreciation
Miscellaneous Income
6,000
4,000
10,000
2,000
6,000
4,000
2,000

[Net Profit – ₹ 36,000.]

Solution:-

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