[DK Goel] Q. 29 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 29 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

From the following balances extracted from the books of Sharma, prepare the Trading and Profit & Loss Account for the year ended 31st March 2023 and Balance Sheet as at that date after taking into consideration the adjustments given below:

Trial Balance as at 31st March, 2023

Particulars	Dr. (₹)	Cr. (₹)
Drawings and Capital	7,500	50,000
Purchases and Sales	72,100	95,000
Returns	1,300	2,700
Sundry Debtors and Creditors	18,200	35,750
Stock (1.04.2022)	19,800
Bad Debts	3,000
Bill Receivable and Payable	12,000	23,000
Cash in Hand	300
Office Expenses	6,210
Sales Van	15,000
Sales Van Expenses	1,400
Discount		2,910
Rent and Taxes	10,700
Telphone Chages	1,050
Postage	950
Furniture	5,000
Printing and Stationery	2,750
Commission	8,400
Carriage Inwards	3,200
Salaries and Wages	20,500
	2,09,360	2,09,360

Adjustments:

(i) Closing Stock was valued at ₹ 61,700.

(ii) Depreciate Furniture and Machinery @ 10% p.a. and Sale Van @ 20% p.a.

(iii) Outstanding Rent amounted to ₹ 900.

(iv) Bad Debts ₹ 200.

(v) Make a provision for Doubtful Debts @ 5% on Debtors.

(vi) Charge one-fourth of salaries and wages to the Trading Account.

(vii) A new machinery was purchased on credit and installed on 31st December 2022 costing ₹ 15,000. No entry for the same has yet been passed in the books.

[Ans. Gross Profit ₹ 57,875; Net Profit ₹ 5,075; Balance Sheet Total ₹ 1,22,225]

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