[DK Goel] Q. 13 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)
Solutions of Question number 13 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)
Give journal entries for the following adjustments in final accounts assuming CGST and SGST @ 9% each:
(i) Closing Stock ₹ 80,000 (Market Value ₹ 1,00,000).
(ii) Outstanding salaries ₹ 21,000.
(iii) Insurance premium amounting to ₹ 10,000 is paid in advance.
(iv) ₹ 6,000 received for rent related to the next accounting period.
(v) Commission accrued but not received during the accounting year ₹ 1,500.
(vi) Goods costing ₹ 20,000 destroyed by fire and insurance company admitted a claim for ₹ 15,000 only.
Solution:-
