[CBSE] Q 17 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 17 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2022-23?

The following are the balances as on 31st March, 2022 extracted from the books of Dass:

Sales
Purchases
Returns Inward
Returns Outward
Stock on 1st April, 2021
Carriage Inwards
Rent
Discount
Printing
Insurance
Travelling Expenses
9,20,000
6,83,000
13,000
22,000
1,76,000
24,000
22,000
37,500
7,200
5,000
14,000
Postage and Courier
Miscellaneous Expenses
Bad Debts
Debtors
Creditors
Loan from Sahil
Capital
Drawings
Business Premises
Furniture
6,200
9,000
4,000
2,20,000
1,28,000
50,000
5,25,000
19,100
3,90,000
15,000

The stock on 31st March, 2022 was valued at ₹ 2,40,000.

Prepare Trading Account, Profit & Loss Account and Balance Sheet as at 31st March, 2022.

[Gross Profit – ₹ 2,86,000; Net Profit – ₹ 1,81,100; Balance Sheet Total – ₹ 8,65,000.]

Solution:-

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