[ISC] Q 7 Solution Final Accounts with adjustments TS Grewal Class 11 (2023-24)

Solution of Question number 7 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2023-24.

Following balances were extracted from the books of Vijay on 31st March, 2023:

Particulars	₹	Particulars	₹
Capital Drawings General Expenses Building Machinery Stock on 1st April, 2022 Insurance Wages Debtors Creditors Bad Debts	2,45,000 20,000 47,400 1,10,000 93,400 1,62,000 13,150 72,000 62,800 25,000 5,500	Loan Sales Purchases Motor Car Provision for Doubtful Debts Commission (Cr.) Motor Car Expenses Bills Payable Cash Bank Overdraft Charity	78,800 6,53,600 4,70,000 20,000 9,000 13,200 18,000 38,500 800 33,000 1,050

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date after giving effect to the following adjustments:

(a) Stock as on 31st March, 2023 was valued at ₹ 2,30,000.

(b) Write off further ₹ 1,800 as Bad Debts and maintain the Provision for Doubtful Debts at 5%.

(c) Depreciate Machinery at 10%.

(d) Provide ₹ 7,000 as outstanding interest on loan.

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