[ISC] Q 6 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)

Solution of Question number 6 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?

Following balances are taken from the books of Niranjan. Prepare Trading and Profit & Loss Account and Balance Sheet for the year ended 31st March, 2022:

Particulars	₹	Particulars	₹
Capital Opening Stock Furniture Sales Purchases Return Rent Salaries Bad Debts Sundry Debtors Bills Payable Advertisement Expenses Patents	1,20,000 45,000 1,500 4,35,000 4,000 5,000 24,000 1,000 40,000 800 6,000 4,800	Drawings Plant and Machinery Purchases Insurance Sales Return General Expenses Wages 6% Investments Sundry Creditors Cash Miscellaneous Receipts	21,000 24,000 2,95,000 1,500 7,000 2,000 40,000 50,000 19,000 12,200 1,200

Adjustemnts:

(i) Closing Stock ₹ 75,000.

(ii) Depreciate Machinery by 10% and Furniture by 20%.

(iii) Wages ₹ 5,000 and salaries ₹ 1,200 are outstanding.

(iv) Write off ₹ 5,000 as further Bad Debts and Create 5% Provision for Doubtful Debts. Also, create a provision for discount on Debtors @ 2%.

(v) Investments were made on 1st July, 2021 and no interest has been received so far.

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