[DK Goel] Q. 6 Financial Statements (with Adjustments) Solutions Class 11 CBSE (2025-26)

Solutions of Question number 6 of Chapter 20 Financial Statements (with Adjustments) DK Goel class 11 CBSE (2025-26)

From the following figures, prepare the Trading and Profit and Loss Account for the year ended 31st March, 2023 and the Balance Sheet as at that date:-

Particulars	₹	Particulars	₹
Stock (1st April, 2022)	75,000	Sundry Debtors	82,000
Purchases	8,00,000	Loan from X	10,000
Sales	12,00,000	Interest on X Loan	1,500
Motor Car	1,50,000	Furniture	20,000
Car Expenses	42,000	Land and Building	2,00,000
Rent	5,500	Capital	2,50,000
Salaries	35,200	Sundry Creditors	91,300
Bad Debts	1,500	Returns Inward	7,500
Provision for bad debts	8,100	Returns Outward	6,000
Commission (Cr.)	4,600	Cash in Hand	16,400
Wages	1,25,000
Insurance	8,400

Adjustments:

(i) Commission include ₹ 1,600 being commission received in advance.

(ii) Write off ₹ 2,000 as further Bad-debts and maintain Bad-debts provision at 5% on debtors.

(iii) Expenses paid in advance are : Wages ₹ 5,000 and Insurance ₹ 1,200.

(iv) Rent and Salaries have bee paid for 11 months.

(v) Loan from X has been taken at 18% p.a. interest.

(vi) Depreciate furniture by 15% p.a. and Motor Car by 20% p.a.

(vii) Closing Stock was valued at ₹ 60,000.

[Ans. G.P. ₹ 2,63,500; N.P. ₹ 1,38,700 and B/S Total ₹ 4,95,600.]

Hint: Net amount shown on the Cr. side of P & L A/c will be ₹ 600 calculated as follows: Old Provision ₹ 8,100 – Bad-debts ₹ 3,500 – New Provision ₹ 4,000.

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