# [ISC] Q 18 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)

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Solution of Question number 18 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date from the following Trial Balance:

Adjustments:

(i) Salaries ₹ 1,000 and Taxes ₹ 2,000 are outstnading but insurance ₹ 5000 is prepaid.

(ii) Commission ₹ 1,000 received in advance for the next year.

(iii) Interest ₹ 2,100 is to be received on Deposits and Interest on Bank Loan ₹ 3,000 is to be paid.

(iv) Provision for Doubtful Debts to be maintained at ₹ 10,000.

(v) Depreciate Furniture by 10%.

(vi) Stock on 31st March, 2023 is ₹ 45,000.

(vii) A fire occurred on 1st April, 2023 destroying goods costing ₹ 10,000.

Solution:-

Working Notes:-

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