[DK Goel] Q. 25 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 25 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2023:

Name of Account	Dr. (₹)	Cr. (₹)
Drawings and Capital	15,000	3,25,000
Plant and Machinery	2,00,000
Motor Vehicle	1,50,000
Return Inward and Outward	25,000	37,000
Stock on 1stApril, 2022	82,000
Purchases and Sales	4,40,000	6,75,000
Carriage Inward	6,000
Trade Expenses	2,500
Bad Debts	4,250
Provision for Doubtful Debts		6,000
Commission	–	4,000
Rent, Rates and Taxes	12,000
Salaries and Wages	24,000
Debtors and Creditors	70,000	55,000
Fuel and Water	4,750
Cash in Hand	16,500
Cash at Bank	50,000
	11,02,000	11,02,000

Adjustments:

(i) Closing Stock was valued at ₹ 1,12,500.

(ii) Commission include ₹ 1,200 being commission received in advance.

(iii) Salaries and wages is outstanding for the month of Feb. & March, 2023.

(iv) Depreciate Plant and Machinery by 15% and Motor Vehicle by 20%.

(v) Write off ₹ 500 as further Bad Debts and maintain provision for doubtful debts at 1% on debtors.

[Ans. Gross Profit ₹ 2,66,750; Net Profit ₹

1,66,805; Balance Sheet Total ₹ 5,37,805.]

Solution:-

Hint: Outstanding Salaries & Wages ₹ 4,800.

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