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

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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:

ParticularsParticulars
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

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21Question – 21
22Question – 22
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