[ISC] Q 19 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)
Solution of Question number 19 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.
The Trial Balance of Tej as on 31st March, 2023 was as follows:
| Ledger Accounts | Dr. | Cr. |
| Purchases Sales Provision for Doubtful Debts Sundry Debtors Sundry Creditors Bills Payable Opening Stock Wages Salaries Furniture Postage and Courier Power and Fuel General Expenses Bad Debts Loan to Suraj @ 10% p.a. (1st December, 2022) Cash in Hand and at Bank General Expenses Accrued but no paid Drawings Capital Outstanding Wages Input CGST Input SGST Output CGST Output SGST | 1,62,505 – – 50,200 – – 26,725 23,137 5,575 7,250 4,226 1,350 525 3,000 10,000 – 4,452 – – 5,000 5,000 – – | – 2,52,400 5,200 – 30,526 3,950 – – – – – – – – – – 700 – 12,000 2,000 – – 4,000 4,000 |
| Total | 3,14,776 | 3,14,776 |
Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet after considering the following information:
(i) Depreciation on Furniture @ 10% to be charged.
(ii) Sundry Debtors include ₹ 500 due from a customer who has become insolvent.
(iii) Provision for Doubtful Debts @ 5% on Sundry Debtors is to be maintained.
(vi) Goods costing ₹ 1,500 were destroyed by fire and insurance company admitted a claim for ₹ 1,000.
(v) Stock on 31st March, 2022 was ₹ 12,550.
Solution:-
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