[ISC] Q 8 Solution Final Accounts with adjustments TS Grewal Class 11 (2022-23)

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Are you looking for the Question number 8 solution of Final Accounts with adjustments TS Grewal class 11 Accountancy ISC Board 2022-23?

Following Trial Balance has been extracted from the books of Sundar on 31st March, 2022:

ParticularsDr. (₹)Cr. (₹)
Cash in Hand and at Bank
Capital
Drawings
Bills Receivable
Land and Building
Furniture
Wages
Discount Allowed
Discount Received
6% Loan
Bank Charges
Bad Debts
Sundry Debtors
Office Salaries
Purchases
Stock on 1st April, 2021
Sales Return
Carriage Inwards
General Expenses
Plant and Machinery
Purchases Return
Sales
Insurance
Provision for Doubtful Debts
Sundry Creditors
7,740

12,600
3,720
65,160
10,240
93,770
7,920


210
2,760
1,31,550
20,100
3,98,160
1,20,450
3,750
10,360
15,360
43,280


1,410


3,00,000






5,970
30,000










2,910
5,63,010

9,300
37,350
Total9,48,5409,48,540

Prepare Trading and Profit & Loss Account for the year ended 31st March, 2022 and Balance Sheet as at that date after giving effect to the following adjustments:

(a) Closing Stock on 31st March, 2022 was ₹ 1,27,410

(b) Depreciate Planta nd Machinery @ 10% and Furniture @ 5%.

(c) Raise the Provision for Doubtful Debts to ₹ 15,000.

(d) Insurance includes annual premium of ₹ 720 on a policy which will expire on 30th September, 2022.

(e) Purchases includes a computer costing ₹ 6,000 purchased on 1st July, 2021 and is subject to depreciation @ 10% p.a.

Solution:-

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