Practical problem 5 final account class 12 Sca Family
Final Accounts | Practical Problem 5 | Class 12 | SCA Family Final Accounts are one of the most important topics in Class 12 Accountancy. Understanding how to prepare them is essential for exams as well as real-life business applications. In this video, we will go step by step through **Practical Problem 5**, explaining each part clearly and making it easy for you to understand. Final accounts consist of three main parts: 1. Trading Account – This helps to determine the Gross Profit or Gross Loss of a business. 2. Profit and Loss Account – This helps to find out the Net Profit or Net Loss. 3. Balance Sheet – This shows the financial position of the business. In this video, we will go through a practical problem where we are given a *Trial Balance* along with adjustments. We will explain: ✔ How to record various items in the Trading Account and Profit & Loss Account. ✔ How to adjust expenses and incomes correctly. ✔ How to prepare the Balance Sheet step by step. Some key concepts covered in this video include: ✅ *Adjustments in Final Accounts* – How to handle Closing Stock, Outstanding Expenses, Prepaid Expenses, Depreciation, and more. ✅ *Posting Entries Correctly* – Understanding which items go into the Trading Account, Profit & Loss Account, and Balance Sheet. ✅ *Solving the Problem Efficiently* – Tips to avoid common mistakes while preparing final accounts. This video is designed for *Class 12 students* who want a *detailed explanation* of Practical Problem 5. Whether you are preparing for your *board exams* or want to strengthen your basics in **accounting**, this video will help you understand the concepts clearly. At **SCA Family**, we aim to make learning simple and effective. By the end of this session, you will be able to **solve similar problems on your own with confidence**. So, watch the full video, take notes, and practice along with us. Don’t forget to *like, share, and subscribe* to *SCA Family* for more such informative videos. Let’s master *Final Accounts* together! 😊
