[ISC] Q 5 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)

Solution of Question number 5 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.

Following are the balances taken from the books of Narain on 31st March, 2023:

Particulars	₹	Particulars	₹
Narain’s Capital Narain’s Drawings Furniture and Fittings Bank Overdraft Creditors Business Premises Stock on 1st April, 2022 Debtors Rent from Tenants Purchases	3,00,000 50,000 26,000 42,000 1,38,000 2,00,000 2,20,000 1,80,000 10,000 11,00,000	Sales Sales Return Discount (Dr.) Discount (Cr.) Insurance General Expenses Salaries Commission (Dr.) Carriage on Purchases Bad Debts Written off	15,00,000 20,000 16,000 20,000 20,000 40,000 90,000 22,000 18,000 8,000

Additional Information:

(i) Closing Stock as on 31st March, 2023 at cost was ₹ 2,15,600 whereas its net realisable value (Market Value) was ₹ 2,00,600.

(ii) Depreciate: Business Premises by ₹ 3,000 and Furniture and Fittings by ₹ 2,500.

(iii) Make a provision of 5% on debtors for doubtful debts.

(iv) Carry forward ₹ 2,000 for unexpired insurance.

(v) Outstanding salary was ₹ 15,000.

Parepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date.

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