[DK Goel] Q. 4 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)
Solutions of Question number 4 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)
Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date from the following Trial Balance:-
| Particulars | Dr. (₹) | Cr. (₹) |
| Capital | 1,00,000 | |
| Cash | 15,000 | |
| Bank Overdraft | 20,000 | |
| Purchases and Sales | 1,20,000 | 1,50,000 |
| Returns | 10,000 | 20,000 |
| Establishment Expenses | 22,000 | |
| Taxes and Insurance | 5,000 | |
| Bad-debts and Bad-debt Provision | 5,000 | 7,000 |
| Debtors and Creditors | 50,000 | 20,000 |
| Commission | 5,000 | |
| Deposits | 40,000 | |
| Opening Stock | 30,000 | |
| Drawings | 14,000 | |
| Furniture | 6,000 | |
| B/R and B/P | 30,000 | 25,000 |
| 3,47,000 | 3,47,000 |
Adjustments:-
1. Salaries ₹ 1,000 and taxes ₹ 2,000 are outstanding but insurance ₹ 500 is prepaid.
2. Commission ₹ 1,000 is received in advance for next year.
3. Interest ₹ 2,100 is to be received on Deposits and Interest on Bank Overdraft ₹ 3,000 is to be paid.
4. Bad-debts provision is to be maintained at ₹ 10,000 on Debtors.
5. Depreciate Furniture by 10%.
6. Stock on 31st March, 2023 was valued at ₹ 45,000.
[Ans. G.P. ₹ 55,000; N.P. ₹ 20,000, and B/S Total ₹ 1,78,000.]
Solution:-
Hint: Interest receivable ₹ 2,100 will be shown on the Cr. side of P & L A/c and will also be added in the Deposits on the Assets side.
Hence the Deposits will be ₹ 40,000 + ₹ 2,100 = ₹ 42,100.
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 |
