Ques 34 Adjustments in preparation of financial Statements Ch 19 : Class 11 Accounts TS Grewal

From the following Trial Balance and other information, prepare Trading and Profit & Loss Account for the vear ended 31st March, 2025 and Balance Sheet as at that date: Sundry Debtors 3,20,000 Stock on ist April, 2024 2,20,000 Cash in Hand 350 Cash at Bank 15,450 Plant and Machinery 1,75,000 Sundry Creditors 1,81,500 General Expenses 10,750 Sales 13,45,000 Salaries 22,250 Carriage Outwards 4,000 Rent 9,000 Purchases 11,88,700 Discount 11,000 Premises 3,45,000 Capital 7,95,000 Total 23,21,500 Additional Information: Stock on 31st March, 2025 was (ii) Rent was unpaid to the extent of 850 and? 1,500 were outstanding for General Expenses. (iii) 4.000 are to be written off as bad debts out of the above debtors and 5% is to be provided for doubtful debts. Depreciate Plant and Machinery by 10% and Premises by 2%. Manager is entitled to a commission of 5% on profit after charging his commission. (vi) A fire broke out on lst April, 2025 destroying goods costing ₹ 20,000. [Ans.: Gross Profit 60,800; Net Loss 42, 750; Balance Sheet Total-t 9,36, 100.]