[ISC] Q 13 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)

Share your love

Solution of Question number 13 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.

Following Trial Balance has been extracted from the books of Santosh on 31st March, 2023:

ParticularsDr.Cr.
Drawings
Plant and Machinery
Furniture and Fixtures
Capital A/c
Sales
Loose Tools
Goodwill
Opening Stock
Returns Outward
Discount
Purchases
Returns Inward
Wages
Sundry Creditors
Provision for Doubtful Debts
Carriage Inwards
Salaries
General Expenses and Insurance
Rent
Postage
Sundry Debtors
Barun
Cash and Bank Balances
20,000
10,00,000
1,20,000


2,00,000
1,00,000
2,00,000


21,20,000
80,000
10,00,000


1,20,000
4,16,000
7,20,000
1,44,000
40,000
5,60,000
20,000
1,40,000


19,60,000
46,80,000



40,000
60,000



2,40,000
20,000







Total70,00,00070,00,000

Following additional information is available:

(a) Stock on 31st March, 2023 was ₹ 3,08,000.

(b) Depreciation is to be charged on Plant and Machinery @ 5% and Furniture and Fixtures @ 6%. Loose Tools are revalued at ₹ 1,60,000.

(c) Provision for Doubtful Debts is to be maintained at 5% on Sundry Debtors.

(d) Remuneration of ₹ 20,000 paid to Barun, a temporary employee, stands debited to his personal account and it is to be corrected.

(e) Unexpired Insurance was ₹ 4,000.

You are required 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

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
21Question – 21
22Question – 22
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 6553

Leave a Reply

Your email address will not be published. Required fields are marked *

x