ADJUSTMENTS IN FINANCIAL STATEMENTS CLASS 11ACCOUNTS | CHAPTER 19 | Q6 TO 10 | TS GREWAL CBSE 2026

📘 Class 11 Accounts – TS Grewal Solutions (2026 Edition) In this video, we cover Chapter 19 – Adjustments in Financial Statements (Questions 6 to 10) in detail. Step-by-step solutions are explained clearly to help you understand the concepts and score well in exams. ✨ Topics Covered: Meaning of Adjustments in Final Accounts Treatment of Common Adjustments (Outstanding Expenses, Prepaid Expenses, Accrued Income, Unearned Income, etc.) Practical Questions 6 to 10 from TS Grewal (2026 Edition) 🎯 Best for: CBSE Class 11 Accountancy students Exam preparation and revision Building strong fundamentals in Financial Statements with Adjustments 🔔 Don’t forget to Like, Share & Subscribe for more Class 11 & 12 Accounts solution 6. Manish has paid salaries of 1,50,000 for the year ended 31st March, 2025. Salaries include 20,000 paid in advance for the year ending 31st March, 2026. Show how it will be shown in the Profit & Loss Account and the Balance Sheet. [Ans.: Amount to be shown in the Profit & Loss Account—? 1,30,000; Assets side of the Balance Sheet as Prepaid Salaries— 20,000.] 7. Following is the extract of Trial Balance as at 31st March, 2025: Heads of Accounts Commission 40,000 Additional Information: Commission is receivable @ 5,000 per month for four months. Show the treatment of Commission in the Final Accounts. [Ans.: 20,000 will be added to 'Commission' on the credit side of Profit & Loss Account. Accrued Commission of 20,000 will be shown on the assets side of Balance Sheet as a Current Asset.] 8. From the following Trial Balance as at 31st March, 2025, show the relevant extract from the Profit & Loss Account and the Balance Sheet: 8% FD (1.10.2024) 1,00,000 dr interest on FD 2,000 cr [Ans.: 2,000 will be added to 'Interest on Fixed Deposits' on the credit side of Profit & Loss Account, Accrued Interest on Fixed Deposit of 2,000 Hint: Total Interest due = 1,00,000 x 8/100 × 6/12 = * 4,000. will be shown on the asset side of Balance sheet. 9. Ramesh's Trial Balance as on 31st March, 2025 gives the following information: Heads of Accounts L.F. Debit （*） Credit (R) Investment (rate of interest 10% p.a.) Interest Received 5,00,000 45,000 balance sheet - Asset side- Show how the above items will be shown in the Profit & Loss Account and Balance Sheet. [Ans.: Profit & Loss Account-50,000; Assets side of the Balance Sheet (Interest Receivable) -* 5,000.] 10. Following is the extract of Trial Balance as at 31st March, 2025: Heads of Accounts interest on Loan. 8,000 Additional Information: Loan of 6,00,000 was taken from State Bank of India at an interest rate of 12% p.a. on Ist July, 2024 and it was repaid on Ist October, 2024. Show the treatment of 'Interest on Loan' in Final Accounts. [Ans.: 10,000 will be added to Interest on Loan' on the debit side of Profit & Loss A/c as Outstanding Interest; Also 10,000 will be shown on the Liabilities side of Balance Sheet.]