FINANCIAL STATEMENTS (WITH ADJUSTMENTS) Chapter-19 T.S.Grewal Solution Question:no-6 Class 11

FINANCIAL STATEMENTS WITH ADJUSTMENTS CHAPTER-19 T.S.Grewal Solution Question -no 6 class 11 Instagram Link : https://www.instagram.com/manojsharma... Prepare Trading and Profit & Loss Account for the year ended 31st March, 2022 and Balance Sheet as at that date from the following balances taken from the books of Vijay on 31st March, 2022 after giving effect to the following adjustments: (i) Stock as on 31st March, 2022 was valued at 2,30,000. (ii) Write off further 1,800 as Bad Debts and maintain the Provision for Doubtful Debts at 5%. (iii) Depreciate Machinery at 10%. (iv) Provide 7,000 as outstanding interest on loan. Particulars F Particulars Capital 2,45,000 Loan 78,800 Drawings 20,000 Sales 6,53,600 General Expenses 47,400 Purchases 4,70,000 Building 1,10,000 Motor Car 20,000 Machinery 93,400 Provision for Doubtful Debts 9,000 Stock on 1st April, 2021 1,62,000 Commission (Cr.) 13200 Insurance 13,150 Car Expenses 18,000 Wages 72,000 Bills Payable 38,500 Debtors 62,800 Cash 800 Creditors 25,000 Bank Overdraft 33,000 1,050 Bad Debts 5,500 Charity [Gross Profit- 1,79,600; Net Profit- 95,510; Balance Sheet Total-5.02.810 #msacademyaccounts #manojsharma #tsgrewal2022 #class11accounts #accounts #accountancy #accounting #chapter19 #solution6 #balancesheet #financialstatements