[DK Goel] Q. 2 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 2 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

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

Particulars	Dr. (₹)	Cr. (₹)
Stock 1st April, 2024	44,600
Purchases and Purchases Return	4,60,000	10,400
Freehold Premises	2,00,000
Incidental Trade Exp.	22,400
Insurance	3,700
Audit Fees	1,600
Commission Received		5,400
Interest		2,800
Debtors and Creditors	64,800	50,000
Wages	60,400
Salaries	30,400
Capital		3,00,000
Drawings	24,000
Income-Tax	7,200
Investments	16,000
Discount allowed & Received	15,000
Sales Return & Sales	12,800
B/R	10,400
Office Furniture	18,000
Rent		5,200
Cash in Hand	10,500
Bank Balance	15,200
	10,17,000	10,17,000

Adjustments:-

1. Stock at 31st March, 2025 is ₹ 60,000.

2. Write off 5% Depreciation on freehold premises and 20% on office furniture.

3. Commission earned but not received ₹ 1,000.

4. Interest earned ₹ 1,500.

5. ₹400 for rent has been received in advance.

6. Charge interest on Capital @ 6% and ₹ 1,200 on Drawings.

[Ans. G.P. ₹ 1,27,400; N.P. ₹ 47,800; Balance Sheet Total ₹ 3,83,800.]

Hint:- Income Tax is the ‘personal expenses’ of the Proprietor, as such it will be treated as Drawings.

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