[CBSE] Q 7, Q 8 Solutions Financial Statements of Sole Proprietorship TS Grewal Class 11 (2025-26)

Solution of Question number 7 and 8 of the Financial Statements of Sole Proprietorship of TS Grewal Book class 11, 2025-26?

Q. 7. Following balances are in the Trial Balance of a firm as on 31st March, 2025:

Opening Stock:	Raw Materials Finished Goods	80,000 1,40,000
Purchases Sales		3,60,000 7,00,000
Returns:	Purchases Sales	10,000 6,000
Wages		1,30,000
Factory Expenses Freight	Inwards Outwards	90,000 20,000

At the end of the accounting period, stock was:

Raw Materials	70,000
Work-in-Progress	20,000
Finished Goods	1,10,000

Prepare Trading Account of the firm.

[Gross Profit – ₹ 84,000.]

[Hint: Freight outwards being an indirect expense is shown in Profit & Loss Account.]

Solution:-

Q. 8. Calculate Closing Stock from the following details:

Opening Stock	₹ 20,000
Cash Sales	₹ 60,000
Purchases	₹ 70,000
Credit Sales	₹ 40,000
Rate of Gross Profit on Cost 33 and 1/3%

[Closing Stock – ₹ 15,000.]

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