[ISC] Q 17 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)
Solution of Question number 17 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.
Following is the Trial Balance of Balance of Bansi as on 31st March, 2023. You are required to prepare Final Accounts:
| Particulars | Dr. | Cr. |
| Sundry creditors Sundry Debtors Capital A/c Drawings Insurance General Expenses Salaries Patents Machinery Freehold Land Building Stock on 1st April, 2022 Carriage on Purchases Carriage on sales Fuel and Power Wages Returns Outward Returns Inward Sales Purchases Cash at Bank Cash in Hand | – 1,45,000 – 52,450 6,000 30,000 1,50,000 75,000 2,00,000 1,00,000 3,00,000 57,600 20,400 32,000 47,300 1,04,800 – 6,800 – 4,06,750 26,300 5,400 | 63,000 – – 7,10,000 – – – – – – – – – – – – – 5,000 – 9,87,800 – – – |
| 17,65,800 | 17,65,800 |
Following adjustments are to be made:
(a) Stock on 31st March, 2022 was valued at ₹ 68,000.
(b) Provision for Doubtful Debts is to be created to the extent of 5% on Sundry Debtors.
(c) Depreciate Machinery by 10% and Patents by 20%.
(d) Wages include a sum of ₹ 20,000 spent on the erection of a cycle shed for employees and visitors.
(e) Salaries for the month of March, 2023 amounted to ₹ 15,000 were unpaid.
(f) Insurance includes a premium of ₹ 1,700 on a policy expiring on 30th September, 2023.
Solution:-
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