[ISC] Q 11 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)

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Are you looking for the Question number 11 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?

The following balances have been extracted from the books of Kanwar as on 31st March, 2023:

Heads of AccountsDr. (₹)Cr. (₹)
Cash at Bank
Cash in Hand
Purchases
Sales Return
Wages
Power and Electricity
Bad Debts
Provision for Doubtful Debts
Carriage on Sales
Carriage on Purchases
Stock (1st April, 2022)
Building
Machinery
Patents
Salaries
Office and Administrative Expenses
General Expenses
Insurance
Drawings
Sundry Debtors
Sales
Purchases Return
Capital
Sundry Creditors
Interest
2,630
540
40,675
680
8,480
4,730
210

3,200
2,040
5,760
42,000
20,000
7,500
25,000
20,000
2,790
600
5,245
14,500











430












98,440
500
92,000
6,300
9,000
Total2,06,5802,06,580

The following adjustments to be made:

(a) The Closing Stock is valued at ₹ 6,800 against the Net Realisable Value (Market Value) of ₹ 8,000.

(b) Machinery is to be depreciated at 10% and Patents at 20%.

(c) Salaries for the month of March, 2023 amounting to ₹ 1,500 were unpaid.

(d) Write off ₹ 500 as Bad Debts and create a Provision for Doubtful Debts at 5% on Sundry Debtors.

(f) Interest Receivable ₹ 1,000.

You are required to prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date.

Solution:-

Here is the list of all solutions of Practical Problems below

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12Question – 12
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20Question – 20
21Question – 21
22Question – 22
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