[CBSE] Q 2 Solutions Adjustments in Preparation of Financial Statements TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 2 of the Adjustments in Preparation of Financial Statements of TS Grewal Book class 11, 2022-23?

Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2022:

Capital
Creditors
Returns Outward
Sales
Bills Payable
Plant and Machinery
Sundry Debtors
Drawings
Purchases
Returns Inward
1,00,000
12,000
5,000
1,64,000
5,000
40,000
24,000
10,000
1,05,000
3,000
Wages
Bank
Repairs
Stock on 1st April, 2021
Rent
Manufacturing Expenses
Trade Expenses
Bad Debts
Carriage Inwards
Fuel and Power
50,000
10,000
500
20,000
4,000
8,000
7,000
2,000
1,500
1,000

Additional Information:

(i) Closing Stock was valued at ₹ 14,500.

(ii) Depreciate Plant and Machinery by ₹ 4,000.

(iii) Write off Bad Debts ₹ 5,000.

(iv) ₹ 400 is due for repairs.

[Gross Loss – ₹ 5,000; Net Loss – ₹ 27,900; Balance Sheet Total – ₹ 79,500.]

Solution:-

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12Question – 12
13Question – 13
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17Question – 17
18Question – 18
19Question – 19
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