[ISC] Q 20 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)
Are you looking for the Question number 20 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?
From the following Trial Balance of Gaurav and additional information given, prepare Trading and Profit & Loss Account for the year ended 31st March, 2022 and Balance Sheet as at that date:
| Particulars | Dr. | Cr. |
| Opening Stock Capital Debtors Creditors Purchases Sales Carriage Inwards Wages and Salaries Commission Machinery Furniture Bad Debts Recovered Bills Receivable Bills Payable Land and Building Insurance 10% Bank Loan Interest on Bank Loan Bank Drawings Input CGST Input SGST Input IGST Output CGST Output SGST | 62,500 – 75,000 – 5,00,000 – 10,000 31,250 – 1,38,750 25,000 – 37,500 – 5,00,000 21,250 – 3,000 24,500 62,500 15,000 15,000 10,000 – – | – 4,66,000 – 43,750 – 8,75,000 – – 16,750 – – 8,000 – 33,750 – – 50,000 – – – – – – 19,000 19,000 |
| Total | 15,31,250 | 15,31,250 |
Adjustments:
(i) Value of the Closing Stock as on 31st March, 2022 is ₹ 50,000.
(ii) Wages and Salaries outstanding are ₹ 12,500 and Insurance prepaid is ₹ 5,000.
(iii) Depreciate Machinery and Furniture @ 10% and 15% p.a. respectively. Machinery included a machine which was purchased for ₹ 38,500 on 30th September, 2021.
(iv) Goods costing ₹ 10,000 were taken by the proprietor for his personal use but no entry has been made in the books of account.
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 |
