[CBSE] Q 29 Adjustments in Preparation of Financial Statement Solution TS Grewal Class 11 (2025-26)

Solution of Question number 29 of the Adjustments in Preparation of Financial Statements of TS Grewal Book class 11, 2025-26?

From the following Trial Balance of Sunil as on 31st March, 2025, prepare Trading and Profit & Loss Account for the year ended 31st March, 2025 and Balance sheet as at that date:

Heads of Accounts	Debit Balances (₹)	Credit Balances (₹)
Capital	—	8,00,000
Drawings	1,80,000	—
Sales	—	15,50,000
Purchases	8,26,000	—
Stock (1st April, 2024)	4,20,000	—
Returns Outward	—	16,000
Carriage Inwards	12,000	—
Wages	40,000	—
Power	60,000	—
Machinery	5,00,000	—
Furniture	1,40,000	—
Rent	2,20,000	—
Salary	1,50,000	—
Insurance	36,000	—
Bank Loan	—	2,50,000
Debtors	2,06,000	—
Creditors	—	1,89,000
Cash in Hand	15,000	—
Total	28,05,000	28,05,000

Adjustments:-

(i) Closing Stock ₹ 6,40,000.

(ii) Wages outstanding ₹ 24,000

(iii) Interest rate of Bank Loan is 8% p.a.

(iv) Bad Debts ₹ 6,000

(v) Provision for Doubtful Debts to be 5%.

(vi) Rent is paid for 11 months

(vii) Insurance premium is paid per annum, ended 31st May, 2025.

(viii) Loan from the bank was taken on 1st October, 2024.

(ix) Provide Depreciation on machinery @ 10% and on Furniture @ 5%.

[Ans.: Gross Profit – ₹ 8,24,000; Net Profit – ₹ 3,21,000; Balance Sheet Total – ₹ 14,34,000.]

Solution:-

Here is the list of all Solutions.

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Solutions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40
41	Question – 41
42	Question – 42
43	Question – 43