[ISC] Q 16 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)
Solution of Question number 16 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?
On 31st March, 2022 the following Trial Balance was extracted from the books of Shyam:
| Particulars | Dr. (₹) | Particulars | Cr. (₹) |
| Drawings Machinery Furniture Sundry Debtors Purchases Wages Cash at Bank Salary Repairs Opening Stock Rent Miscellaneous Expenses Bad Debts Carriage Inwards Shiv Mohan | 18,000 1,20,000 26,000 36,000 20,000 8,000 26,000 8,000 1,900 16,000 4,500 11,500 5,000 1,600 20,000 | Sundry Creditors Sales Interest Commission Capital | 40,000 42,000 13,500 17,000 2,10,000 |
| 3,22,500 | 3,22,500 |
Prepare Trading and Profit & Loss Account for the year ending 31st March, 2022 and Balance Sheet as on that date after taking into account the following adjustments:
(i) Closing Stock was valued at ₹ 16,000 (At cost). its Net Realisable Value (Market Value) was determined at ₹ 20,000.
(ii) Depreciation is to be provided on machinery @ 10% and furniture @ 15%.
(iii) ₹ 1,500 are due for wages.
(iv) Prepaid rent ₹ 1,500.
(v) Accrued interest ₹ 1,500.
(vi) Commission Received in Advance ₹ 2,000.
(vii) Further Bad Debts ₹ 2,000.
(viii) Provide Manager’s Commission at 10% on net profit before charging such commission.
(ix) Remuneration of ₹ 20,000 paid to Shiv Mohan, a temporary employee, stands debited to his Personal Account and it is to be corrected.
Solution:-
Here is the list of all solutions of Practical Problems below
| 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 |
| 21 | Question – 21 |
| 22 | Question – 22 |
