[ISC] Q 17 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)

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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:

ParticularsDr.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


17,65,80017,65,800

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:-

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
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