[ISC] Q 4 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)

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Solution of Question number 4 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?

Trial Balance of Manohar as at 31st March, 2022 is given below:

ParticularsDr. (₹)ParticularsCr. (₹)
Stock on 1st April, 2021
Furniture
Plant and Machinery
Debtors
Wages
Salaries
Bad Debts
Purchases
Electricity Expenses
Telephone Expenses
General Expenses
Postage and Courier
Returns Inward
Insurance Premium
Cash in Hand
Cast at Bank
25,000
8,000
1,50,000
30,000
12,000
20,000
1,000
1,20,000
1,200
2,400
3,000
1,800
900
1,500
2,500
40,000
Sales
Commission
Returns Outward
Creditors
Capital
2,27,800
500
1,000
40,000
1,50,000
4,19,3004,19,300

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2022 and Balance Sheet as at that date after taking into account the following adjustments:

(i) Closing Stock was valued at ₹ 7,000.

(ii) Outstanding liabilities for wages were ₹ 600 and Salaries ₹ 1,400.

(iii) Depreciation is to be provided @ 5% p.a. on all fixed assets.

(iv) Included in Plant and Machinery is a machine purchased for ₹ 10,000 on 1st October, 2021.

(v) Insurance premium paid in advance ₹ 200.

Solution:-

Here is the list of all solutions of Practical Problems below

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1Question – 1
2Question – 2
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4Question – 4
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6Question – 6
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S.NSolutions
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13Question – 13
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17Question – 17
18Question – 18
19Question – 19
20Question – 20
21Question – 21
22Question – 22
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