[DK Goel] Q. 33 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 33 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2023, from the following balances:

Particulars	₹	Particulars	₹
Capital A/c	5,00,000	Stock on 1.4.2022	67,000
Drawings A/c	36,000	Salaries & Wages	24,000
Bills Receivable	5,800	Outstanding Salaries and Wages	2,000
Plant & Machinery	3,80,000	Insurance (including premium of ₹ 1,000 per annum paid upto 30.9,2023)	2,600
Sundry Debtors	58,000	Cash	46,600
Loan A/c (Cr.) at 12% p.a.	20,000	Bank Overdraft	15,000
Manufacturing Wages	40,000	Repairs & Renewals	1,600
Returns Inwards	3,000	Interest & Discount (Dr.)	4,400
Purchases	1,20,000	Bad-debts	4,000
Sales	2,60,000	Sundry Creditors	30,000
Rent	28,000	Fixtures & Fittings	12,000
Commission Received	6,000

Adjustments:-

(1) Stock on hand on 31st March, 2023 was ₹ 80,000.

(2) Further Bad-debts writeen off ₹ 2,000 and Create a provision of 5% on Sundry Debtors.

(3) Rent has been paid up to 31st May, 2023.

(4) Manufacturing wages include ₹ 10,000 of a new Machinery purchased on 1st October, 2022.

(5) Depreciate Plant and Machinery by 10% p.a. and Fixtures and Fittings by 20% p.a.

(6) Commission earned but not received ₹ 1,000.

(7) Interest on Loan for the last two months is not paid.

(8) Goods worth ₹ 4,000 were distributed as free samples.

[Ans. G.P. ₹ 1,24,000; N.P. ₹ 20,800; B/S Total ₹ 5,52,200.]

Solution:-

Hint:- Prepaid Rent ₹ 4,000; Prepaid Insuarnce ₹ 500.

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