[DK Goel] Q. 34 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 34 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

From the following Trial Balance extracted from the books of Mr. Karuna Sagar, prepare a Trading and Profit & Loss A/c For for the year ended 31st March, 2023 and a Balance Sheet as at that date:

Dr. Balances	₹	Cr. Balances	₹
Purchases	3,30,000	Sales	5,30,000
Rent paid	7,480	Returns	8,000
Wages	33,000	Trade Creditors	37,000
Salaries	30,800	Discount	3,000
Power	5,400	Capital	2,00,000
Stock on 1-4-2022	15,000	Miscellaneous Income	3,060
Stock on 31-3-2023	36,000
Charity	500
Debtors	53,000
Furniture	8,000
Motor Car	2,00,000
Motor Car Expenses	18,000
Insurance	3,600
Unexpired Insurance	600
Drawings	5,000
Cash Balance	34,680
	7,81,060		7,81,060

Informations:-

(i) Goods costing ₹ 2,000 were taken away by the proprietor for his personal use and goods costing ₹ 1,500 were given away as charity.

(ii) Expenses for wages, rent and salaries are uniform throughoght the year and those for March have not been paid.

(iii) Provide 10% depreciation on Furniture and 20% on Motor Car.

(iv) Provide for Manager’s Commission at 10% on Net Profit after charging such Commission.

[Ans. G.P ₹ 1,55,100; N.P. ₹ 50,000; Balance Sheet Total ₹ 2,91,480.]

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