[DK Goel] Q. 17 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 17 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

From the following Trial Balance of Mr. Alok, prepare Trading and Profit & Loss Account for the year ending 31st March, 2024, and a Balance Sheet as at that date:

Dr. Balances	₹	Cr. Balances	₹
Drawings	5,275	Capital	59,700
Bills Receivable	4,750	Loan at 8% p.a. (On 1.4.2023)	10,000
Machinery	14,400	Commission Received	2,820
Debtors	30,000	Creditors	29,815
Wages	20,485	Sales	1,78,215
Returns Inward	2,390
Purchases	1,28,295
Rent	2,810
Stock (1.4.2023)	44,840
Salaries	5,500
Travelling Expenses	945
Insurance	200
Cash	9,750
Repairs	1,685
Interest on Loan	500
Discount Allowed	2,435
Bad-Debts	1,810
Furniture	4,480
	2,80,550		2,80,550

The following adjustments are to be made:

(i) Stock in the shop on 31st March, 2024 was ₹ 64,480.

(ii) Write off ₹ 500 as further bad debts.

(iii) Create a provision of 5% on other debtors.

(iv) Wages include ₹ 600 for erection of new machinery.

(v) Depreciate Machinery by 5% and Furniture by 10%.

(vi) Commission includes ₹ 300 being Commission received in advance.

Solution:-

Below 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