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

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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:

ParticularsParticulars
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.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
21Question – 21
22Question – 22
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