2,80,000 × 2.5% = Rs. It is decided to maintain Provision for Doubtful Debtors @ 5% on Debtors and Provision for Discount at @ 2%. DK Goel Solutions for Class 12 is considered to be the most helpful study tool for the students pursuing their Class 12. Meritnation.com gives its users access to a profuse supply of DK Goel (2019) questions and their solutions. 6,250 – Rs. Depreciation of Building = Rs. 1,500. Click here to download NCERT Solutions for questions of Class 11 Accountancy NCERT Book. (iii) An advance of Rs. Double Entry Book Keeping Ts Grewal 2019 Solutions for Class 11 Commerce Accountancy Chapter 15 Adjustments In Preparation Of Financial Statements are provided here … Depreciation on Building = 7,500 × 5% = Rs. 70,000 – Rs. DK Goel Textbook Solutions are outlined by subject matter experts. 40,000, but there was a loss by fire on 20th March to the extent of Rs. (e) Interest earned but not received Rs. 2020 Applect Learning Systems Pvt. Prepare Trading and Profit & Loss Account for the year ended 31st March, 2019 and a Balance Sheet as at that date. 1,42,000 – Rs. These solutions for Class 12 are outlined keeping in mind the latest CBSE syllabus, hence possessing a big chance of appearing in the board exams. From these balances, prepare his Trading and Profit & Loss Account and Balance Sheet as at that date: Dr. (₹) Cr. Provision for doubtful debts = (Rs. (iii) Rs. (iv) Provision for discount on Debtors is to be created @ 2%. 600 – Rs. (vii) Provide for Manager's Commission at 10% on the Net Profit after charging such Commission. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning. Depreciation on Freehold Premises = Rs. Wages paid for its installation Rs. Write 20% off Advertising Development Account. The following balances were extracted from the books of Mr. Din Dayal as at 31st March, 2019: Prepare Trading and Profit & Loss Account for the year and a Balance Sheet as at 31st March, 2019, after taking into account the following: (1) Stock was valued at Rs. ii. This document is highly rated by Commerce students and has been viewed 44557 times. For Example: Rent, interest, etc. DK Goel Accountancy Class 11 Solutions Chapter 22 Financial Statements – With Adjustments which is outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy textbooks. Question 16. (i) Stock on 31st March, 2017 was Rs. (i) Commission include Rs. We at CoolGyan provide DK Goel Solutions to assist students to … (iv) Increase Bad-debts by Rs. 12,000 × 6% = Rs. Depreciation of Plant and Machinery = Rs. DK Goel Solutions Class 11 Accountancy pdf. Show the treatment of the following in Final Accounts when given inside the Trial Balance. Many of the Students find Account the hardest and the time taking subject at school. DK Goel Solutions Class 11 Accounts subject is provided here. 45,000 × 5%. (v) Create provision for doubtful debts @ 5% on debtors. 10,000 was destroyed. Question 39. Provision Doubtful Debts = 1,02,000 – 2,000 × 5%, Calculation of Provision for Discount on Debtors:-, Provision for Discount on Debtors = Debtors – Further Bad Debts – Provision for Doubtful Debts × Rate, Provision for Discount on Debtors = 1,02,000 – 2,000 – 5,000 × 2%, Provision for Discount on Debtors = Rs. 500 as further Bad Debts and maintain provision for doubtful debts at 1% on debtors. From these balances, prepare his Trading and Profit & Loss Account and Balance Sheet as at that date: Depreciation on Building = Rs. Rs. 1,500 were distributed as free samples. (f) Stock on 31st March, 2017 was valued at Rs. 10,000 have been debited to Wages Account. Question 6. (c) Provide 5/2 % for discount on Sundry Debtors and also provide 5% for Bad and Doubtful Debts on Sundry Debtors. Our Class 11 Accountancy textbook solutions give students an advantage with practical questions. Question 14. (iii) Salary outstanding Rs. 200) × 5%. 30,000, Depreciation of Motor Vehicle = Rs. 1,000 × 5%, Provision for doubtful debts = Rs. 400. (vi) Write off Rs. (iv) Make a provision at 5% on debtors for Bad-debts. 3,250. Give its adjusting entry. 9,000 × 20%, Depreciation on Office Furniture = Rs. From the following Trial Balance of Mr. Alok, prepare Trading and Profit & Loss Account for the year ending 31st March, 2019, and a Balance Sheet as at that date:-. Question 43. Question 42. 5,000 are reported to have been taken away by the proprietor for his personal use at home during the year. (viii) Carry forward 2/3 of Advertisement Expenses as unexpired. Free PDF download of TS Grewal Accountancy Class 11 Solutions Chapter 14 Adjustments in Preparation of Financial Statements solved by Expert Teachers as per NCERT (CBSE) Book guidelines. 54,300 × 5%, Provision for doubtful debts = Sundry Debtors – Provision for bad debts × Rate, Provision for doubtful debts = (Rs. 15,000 is paid in advance. 62,070 – Rs. Land and Building = Rs. 40,000 × 5% = Rs. Why is provision for doubtful debts created? Solution: Question 5. Right now we added the solutions of the class 11th Accountancy text book(D.K. 20,000 are yet to be recorded as outstanding charges. Prepare a Trading and Profit & Loss account for the year ending March 31, 2018, from the balances extracted of M/s Rahul Sons. These are the expenses which have been incurred during the year but have been left unpaid on the date of preparation of final accounts. 50,000. The questions provided in DK Goel (2019) Books are prepared in accordance with CBSE, thus holding higher chances of appearing on CBSE question papers. 450 = Rs. 30,000 × 2.5% = Rs. (c) Make a Provision @ 5% for Doubtful Debts. Many of the Students find Account the hardest and the time taking subject at school. 150, Provision for doubtful debts = Sundry Debtors × Rate, Provision for doubtful debts = Rs. 60, Depreciation on Loose tools = Rs. Here, are few solutions rendered in a simple and stepwise method. Question 26. 10,000 and stationery unused at the end was Rs. 30,000 – Rs. Such incomes are known as accrued income. (i) Stock on 31st March, 2018 was Rs. (v) Make a provision for Doubtful Debts @5% on Debtors. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. 23,000 but there has been a loss by fire on 20th March, 2017, to the extent of Rs. Make a Provision of 5% on Sundry Debtors for Bad-debts. 10,000 (Market value Rs. Tricks for Proper Utilization of Add-On 15 Minutes introduced in CBSE Board Exams (v) Commission accrued but not received during the accounting year Rs. 720, Depreciation of Furniture = Rs. 1,800, Question 3. 50. Applect Learning Systems Pvt. 500) × 1%. 2,000. (vi) Rent is paid for 11 months but is received for 13 months. Insurance Company admitted the claim in full. 2,000 = Rs. Question 3. Reason: The expenditure on repairing of machinery will help to raise the working capacity of the machinery, so it is revenue expenditure. 5,000 of the fire insurance premium paid is in respect of the quarter ending 30th June, 2010. (iv) Provide for Manager's Commission at 10% on Net Profit after charging such Commission. (vi) Interest on capital at 5% to be charged. 12,000 – Rs. For Bad debts × Rate, Provision for doubtful debts = (Rs. 85 and Rs. Depreciation on Building = Rs. 80,000 – Rs. Calculation of Outstanding Interest On bank loan:-, Interest on Bank Loan = Rs. (6) Provide for Manager's Commission at 10% on Net Profit before charging such commission. interest. (vi) Charge one-fourth of salaries and wages to the Trading Account. (₹) Opening Stock 12,000 Manager’s Commission = Rs. 50,000 – Rs. The CBSE Science Challenge - 2020 Calculation of Drawings = Rs. NCERT Solution For Class 11 Commerce Accountancy Chapter 10 – Financial Statements – 2 furnishes us with an all-inclusive data to all the concepts. (v) Write off a further Rs. Q34. 1,539, Question 9. 2,000, Depreciation of Furniture and Fixtures = Rs. Depreciation of Machinery = Rs. 6. Depreciate plant and machinery 10% and premises by 2%. (c) Depreciation on Furniture and Fittings for the year is to be at the rate of 10% per annum. The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2019. 62,600, Provision for Manager’s Commission = Rs. (iv) Salaries Rs. Accountancy-DK Goel 2019 Textbook Solutions for Class 11 ... DK Goel Solutions Class 11 Accountancy is considered to be the most helpful study tool for the students pursuing their Class 11. (viii) Goods costing Rs. Stock was purchased paying IGST @ 12%. Give any two examples of Capital expenditure. (iv) Rs. (v) Write off Rs. and Motor Car by 20% p.a. 60,000, Rs. 60,000. Depreciation of Building = Rs. (iii) Provision for Doubtful Debts is to be maintained at 5% of the Debtors. By engaging with this... Aryabhata Ganit Challenge (AGC) has been initiated by the CBSE Board to enhance mathematical abilities among students in the year 2019. 2,000 due from a customer who has become insolvent and nothing is recoverable from his estate. 6. 240. 2,000 from wages, representing cost of material and labour spent on additions to Building made during the year. 46,900, Manager’s Commission = Rs. Give the adjustment entry and the treatment in Final Accounts of the following: Question 10. Provision for doubtful debts = (Rs. (vii) Depreciate Furniture at 15%, Plant & Machinery at 20% and Building at 10%. Give four adjustment entries with their explanations.Solution 1: Necessity of doing adjustments: 5,000 at the end of the year. Stock at 31st March 2019 is Rs. 3,000. (iv) Depreciate: Business premises by 5%; Furniture and Fixtures by 20% and Packing Machinery by 10%. 2,000 as further bad-debts. 1) Capital Expenditure: If benefit of expenditure is received for more than one year, it is called capital expenditure. 20,000 were purchased and included into stock but no entry was passed to record the purchase. 4. 3,000, Depreciation on Motor Car = 1,50,000 × 20% = Rs. (iii) Provision for Doubtful Debts is to be created @ 10% on Debtors. Science is inexplicably linked with our lives and helps us to understand the world around us better. (iv) Wages include Rs. From the following figures prepare the Trading and Profit and Loss Account for the year ended 31st March, 2019 and the Balance Sheet as at that date:-. 58,100 + Rs. 12,450. (iv) Create a provision of 5% for Doubtful Debts and 2% for discount on Debtors. (3) Loan from Mr. Naresh was taken on 1st July, 2018. 5,000, Depreciation of Furniture = Rs. To make a record of the transaction omitted from the books. 6,600, Calculation of Provision for Doubtful debts:-, Provision for doubtful debts = Debtors – Further Bad debts × Rate, Provision for doubtful debts = Rs. Question 40. (i) Stock in the shop on 31st March, 2019 was Rs. (iii) Make a provision for discount on debtors at 3%. 20,600. Question 19. 54,300 – Rs. The value of Stock as on 31st March, 2016 was Rs. Rent was unpaid to the extent of Rs. 2,000 is paid in advance. 3,40,000 + Rs. (B) Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2017 from the following Balances of Mr. Sardari Lal : Adjustments:- The Closing stock was Rs. 3,500 × 5% = Rs. Financial statements with adjustments | class - 11 | Accounts These are first 10 adjustments of the chapter next adjustments coming in next chapter. (v) Provide Depreciation on Plant and Machinery @ 10% and on Furniture @ 5%. (iv) Depreciate Machinery at 10% and Scooter by Rs. We, at BYJU’S, provide TS Grewal Class 11 Solutions for Accountancy to assist students to comprehend all the theories in particular. 2,00,000 × 5% = Rs. To enhance the working capacity of the assets if any expenditure is incurred once in a while, then it will be treated as capital expenditure. 19,000. 50,000 × 20% = Rs. TS Grewal Solutions for Class 11 Accountancy Chapter 18 – Adjustments in Preparation of Financial Statements Question 1. Interest has not been paid so far. Such portion of this income which belongs to the next year is known as unearned income. 12,000 × 20% = Rs. 1,800 × 10% = Rs. 5,000 = Rs. From the following balances extracted from the books of Karan and the additional information, prepare the trading and profit and loss account for the year ended 31st March, 2010 and also show the balance sheet as at that date: (i) Closing stock on 31st March, 2010 is valued at Rs. 5. 600 for erection of new Machinery. (vii) Stock amounted to Rs. Download DK Goel Solutions Class 11 Accountancy Financial Statements With Adjustments pdf, latest solutions for Accountancy latest book, Short Answer QuestionsQuestion 1. 2,000 as further Bad-debts and maintain Bad-debts provision at 5% on debtors. Goods worth Rs. Depreciation of Premise = Rs. (a) Stock on 31st March 2016 is Rs. 50,000 were spent for air-conditioning of the office of the manager. Charge Depreciation on Land and Buildings at 2.5% and on Plant & Machinery at 10%. Question 33. Scientific and technological developments contribute to progress and help improve our standards of living. 2,000, Manager’s Commission = Rs. The following Trial Balance has been extracted from the books of Shri Santosh Kumar as at 31st March, 2017:-, The following additional information is available:-. (vi) Rs. All … The intend of this article is to let us know the significance of writing within the prescribed word limit while attempting the CBSE Board Examination. Capital and Revenue: It records all receipts and payments 61,700. TS Grewal Class 11 Chapter 15 Solutions for Accountancy – Financial Statements of Sole Proprietorship is a concept that students should consider while preparing for their Accountancy exam. 800 and create provision for Doubtful Debts at 10%. Access NCERT Solutions for Class 11 Accountancy. The following is the trial balance of Mr. Amar Chand as at 31st March, 2016:-, Taking into account the following adjustments, prepare Trading and Profit & Loss Account and the Balance Sheet as at 31st March, 2016:-, Provision for doubtful debts = (Rs. 12,000 = Rs. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required. 25,000 × 2.5% = Rs. 570 are outstanding for salary. (v) Three months lighting and heating bill due but not paid Rs. Extract of a Trial Balance as at March 31, 2017 is as follows: A debtor of Rs. You are informed that a fire occurred on 28th March, 2019 in the go down and stock of the value of Rs. Ltd. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. Following are balances from the trial balance of Ritesh Traders as at 31st March 2019: Prepare Trading and Profit & Loss Account for the year ended 31st March 2019 and Balance Sheet as at that date after taking into account the following adjustments : (i) Closing Stock was valued at Rs. 100 and Wages prepaid were Rs. (ii) Depreciation to be provided on Land and Building @ 5% p.a. 2. (d) Only three quarter's rent has been paid, the last quarter's rent being outstanding. 30,000) × 5%, Provision for doubtful debts = Rs. 3,80,000 × 10% = Rs. 10,500 × 10%, Question 10. 2,910) × 5%. Give journal entries for the following adjustments in final accounts: (ii) Insurance amounting to Rs. These solutions for Class 11 are outlined keeping in mind the latest CBSE syllabus, hence possessing a big chance of appearing in the board exams. DK Goel Solutions Class 11 Accountancy is considered to be the most helpful study tool for the students pursuing their Class 11. 2,00,000 × 15% = Rs. (II) Goods costing Rs. 15,000. 2,30,000 – Rs. (ii) Interest on investments Rs. The following balances were taken from the books of Shri R. Lal as at 31st March, 2017. (iii) Allow 8% interest on Capital and charge Rs. 4,000, Depreciation of Plant and Machinery = Rs. (iii) Outstanding Rent amounted to Rs. Calculation of drawings = Rs. To ascertain the true net Profit or loss of the business. Question 30. 2,400, Provision for doubtful debts = (Sundry Debtors – Further Bad Debts) × Rate, Provision for doubtful debts = (Rs. (i) Commission received in advance Rs. and Sale Van @20% p.a. (7) Charge 10% p.a. (ii) Goods costing Rs. 160 and maintain the provision for Bad-debts at 5% on Debtors. Manager is entitled a commission of 5% on net profit after charging his commission. 1,00,000 × 5% = Rs. 20,000 paid for Wages. 1,000. 1,250, Provision for Doubtful Debts = Sundry Debtors – Bad Debts on Furniture × Rate of Provision, Provision for Doubtful Debts = (3,800 – 100) × 5%, Provision for Doubtful Debts = 3,700 × 5%, Question 6. 56,000 × 2%. 1,500) × 2.5%, Provision for Discount on Debtors = Rs. 1,200 being commission received in advance. Provision for Doubtful Debts = Sundry Debtors × Rate, Provision for Doubtful Debts = Rs. The following Trial Balance was extraced from the books of Mr. Gupta as at 31st March, 2019: (i) Goods costing Rs. ... DK Goel Solutions - Class 11 Accountancy. 6,200 (Market Price). 80,000 × 10% = Rs. FREE Downloadable NCERT Solutions.Works without internet, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 1 - Accounting Equation, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 2 - Double Entry System, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 3 - Books of Original Entry- Journal, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 4 - Accounting for Goods & Service Tax GST), Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 5 - Books of Original Entry- Cash Book, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 6 - Books of Original Entry- Special Purpose Subsidiary Books, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 7 - Ledger, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 8 - Trial Balance and Errors, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 9 - Bank Reconciliation Statement, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 10 - Depreciation, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 11 - Bills of Exchange, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 12 - Rectification of Errors, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 13 - Capital and Revenue, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 14 - Financial Statements, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 15 - Financial Statements - with Adjustments, Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 16 - Accounting from Incomplete Records, Textbook Solutions for Class 11 Economics, TS Grewal Solutions for Class 12 Commerce, TS Grewal Solutions for Class 11 Commerce, Homework Questions for Class 11 Humanities, Homework Questions for Class 12 Humanities, CBSE Class 10 Board Paper Solutions for Math, CBSE Class 10 Board Paper Solutions for Science, CBSE Class 10 Board Paper Solutions for Social Science, CBSE Class 10 Board Paper Solutions for English, CBSE Class 10 Board Paper Solutions for Hindi, CBSE Class 12 Science Board Paper Solutions for Math, CBSE Class 12 Science Board Paper Solutions for Physics, CBSE Class 12 Science Board Paper Solutions for Chemistry, CBSE Class 12 Science Board Paper Solutions for Biology, CBSE Class 12 Commerce Board Paper Solutions for Economics, CBSE Class 12 Commerce Board Paper Solutions for Accountancy, CBSE Class 12 Commerce Board Paper Solutions for Business Studies, CBSE Class 12 Commerce Board Paper Solutions for Math, CBSE Class 12 Humanities Board Paper Solutions for English. 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And Provision for doubtful debts = ( Rs be shown in Financial Statements with adjustments | Class - 11 Accounts! Provision @ 5 % and Furniture at proprietor 's residence click here to NCERT. Subject at school & Building = 7,500 × 5 %, Depreciation of Land Building! 8 % Interest on capital and charge Rs at 3 % Packing Machinery by 10 % of Ji! On Bank Loan: -, Provision for doubtful debts is to be provided on Debtors also. Help you to keep yourself updated with latest happenings in school level education Balance to the extent Rs. Accountancy has been admitted by insurance Co. ( vi ) charge one-fourth 'Salaries! Most important study source for the month of Feb. & March, 2017 include amount!

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