[DK Goel] Q. 22 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)
Solutions of Question number 22 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)
Following is the Trial Balance as on 31st March 2016. Prepare Trading and Profit and Loss Account and Balance Sheet:
| Particulars | Debit (₹) | Credit (₹) |
| Stock (1st April 2015) | 8,000 | |
| Sales | 2,20,000 | |
| Purchases | 1,26,000 | |
| Productive Wages | 56,500 | |
| Salaries | 16,000 | |
| Stores Consumed | 6,050 | |
| Carriage | 3,050 | |
| Rent and Rates | 5,200 | |
| Insurance | 1,320 | |
| Machinery | 52,000 | |
| Building | 67,000 | |
| Capital less Drawings | 1,45,600 | |
| Sundry Debtors | 44,000 | |
| Sundry Creditors | 20,000 | |
| Secured Loan | 15,000 | |
| Furniture | 3,350 | |
| General Expenses | 2,600 | |
| Cash in Hand | 1,930 | |
| Bad Debts | 1,020 | |
| Bank | 6,580 | |
| 4,00,600 | 4,00,600 |
Additional Information:
(a) Stock on 31st March 2016 is ₹ 20,600.
(b) Depreciate machinery @ 10% p.a.
(c) Make a Provision @ 5% for Doubtful Debts.
(d) Provide 21/2% for discount on sundry debtors
(e) Rent and Rates include security deposit of ₹ 400.
(f) Insurance prepaid ₹ 120.
[Ans. Gross Profit ₹ 41,000; Net Profit ₹ 6,935; Balance Sheet Total ₹ 1,87,535.]
Solution:-
Hints:
(i) Stores consumed will be shown on the Dr. side of Trading A/c
(ii) Security deposit of ₹ 400 will be deducted from rent and rates and will be shown on the assets side.
