[CBSE] Q 18 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 18 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2022-23?

From the following balances of Anand, prepare Trading Account, Profit & Loss Account, and Balance Sheet as at 31st March, 2022:

Credit Balances:
Capital
Creditors
Bills Payable
Sales
Bad Debts Recovered
Loan
Debit Balances:
Debtors
Salaries
Discount
Fixtures and Fittings
3,60,000
87,200
25,270
7,81,820
1,750
1,20,000

38,850
40,000
10,000
1,61,550
Debit Balances (Contd):
Postage
Bad Debts
Interest
Insurance
Machinery
Stock (Opening)
Purchases
Wages
Building
Selling Expenses
2,730
2,870
12,950
4,170
1,00,000
99,450
6,20,920
43,000
2,37,800
1,750

Value of goods on hand (31st March, 2022) was ₹ 1,43,000.

[Gross Profit – ₹ 1,61,450; Net Profit – ₹ 88,730; Balance Sheet Total – ₹ 6,81,200.]

Solution:-

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