[CBSE] Q 27, Q 28 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2025-26)

Solution of Question number 27 and 28 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2025-26?

Q. 27. From the following balances as on 31st March, 2025, prepare Trading and Profit & Loss Account and Balance Sheet:

	₹		₹
Capital Account Plant and Machinery Sundry Debtors Sundry Creditors Life Insurance Premium Purchases Wages Bank Stock (1st April, 2022)	1,00,000 40,000 24,000 19,000 12,000 1,05,000 50,000 10,000 20,000	Returns Outward Rent Sales Manufacturing Expenses General Expenses Bad Debts Carriage Returns Inward	5,000 4,000 1,64,000 8,000 7,500 2,000 1,500 4,000

Closing Stock on 31st March, 2023 was valued at ₹ 14,500.

[Gross Loss – ₹ 5,000; Net Loss – ₹ 18,500; Balance Sheet Total – ₹ 88,500.]

Solution:-

Q. 28. Trial Balance of Chatter Sen on 31st March, 2025 revealed the following balances:

	₹		₹
Debit Balances: Machinery Purchases Sales Return Opening Stock Discount Allowed Bank Charges Sundry Debtors Salaries Wages Freight In Freight Out	10,00,000 5,80,000 10,000 4,00,000 3,500 750 4,50,000 68,000 1,00,000 7,500 12,000	Debit Balances (Contd.): Rent Insurance Advertisement Cash at Bank Credit Balances: Capital A/c Sales Purchases Return Discount Received Loan Sundry Creditors	20,000 10,000 10,000 69,000 12,00,000 12,70,000 12,750 8,000 50,000 2,00,000

Stock on 31st March, 2023 was ₹ 3,50,000 at cost and its net realisable value (market value) was ₹ 4,00,000.

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:

[Gross Profit – ₹ 5,35,250; Net Profit – ₹ 4,19,000; Balance Sheet Total – ₹ 18,69,000.]

Solution:-

Here is the list of all Solutions.

S.N	Solutions
1	Question – 1, 2
2	Question – 3, 4
3	Question – 5, 6
4	Question – 7, 8
5	Question – 9, 10
6	Question – 11, 12
7	Question – 13, 14
8	Question – 15, 16
9	Question – 17, 18
10	Question – 19, 20

S.N	Solutions
11	Question – 21, 22
12	Question – 23, 24
13	Question – 25, 26
14	Question – 27, 28
15	Question – 29, 30