[DK Goel] Q. 38 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 38 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

From the following Trial Balance of Mr. Tarun Ghosh, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2020 and a Balance Sheet as at that date:

Dr. Balances	₹	Cr. Balances	₹
Opening Stock	38,000	Capital	3,00,000
Purchases	12,60,000	Secured Loan	20,000
Wages: Factory Office	20,000 1,600	Sales	15,40,000
Salary	54,000	Sundry Creditors	40,000
Business Premises	2,00,000	Returns Outwards	15,000
Furniture and Fixtures	40,000	Bills Payable	12,000
Packing Machinery	60,000	Bank	33,000
Tools	15,000
Rent	58,400
Loan to Mr. Ram Narain on 1st November, 2019 @ 12% p.a.	10,000
Sundry Debtors	1,31,500
Cash in Hand	7,400
Drawings	60,000
Bills Receivable	4,100
	19,60,000

Adjustments:-

(1) Closing Stock amounted to ₹ 50,000.

(2) Goods costing ₹8,000 were sent to a customer on sale or return basis for ₹ 10,000 on 30th March, 2020 and had been recorded in the books as actual sales.

(3) Allow 8% interest on Capital and charge ₹ 3,000 as interest on drawings.

(4) Depreciate : Business premises by 5%; Furniture and Fixtures by 20% and Packing Machinery by 10%. Tools are to be revalued at ₹ 12,000.

(5) 2¹/2% for discounts is to be provided on Debtors.

(6) ₹ 1,500 is to be provided for Bad and Doubtful Debts.

[Ans. Gross Profit ₹ 2,85,000; Net Profit ₹ 1,19,000; Balance Sheet Total ₹ 4,85,000.]

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