Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Commerce: Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

The document Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course DK Goel Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

Page No 22.100:
Question 22:
From the following Trial Balance extracted from the books of Sh. Pawan Kumar, prepare a Trading Account, Profit & Loss Account for the year ended 31st March, 2014 and a Balance Sheet as at that date :
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Adjustments:-
1. Plant and Machinery includes a new machinery purchased on 1st October, 2013 for ₹ 2,00,000.
2. Depreciate Plant and Machinery by 10% p.a. and Horses and Carts by 20% p.a.
3. Salaries for the month of February and March 2014 are outstanding.
4. Goods worth ₹ 15,000 were sold and dispatched on 27th March but no entry was passed to this effect.

5. Make a provision for Doubtful Debts at 5% on Debtors.
ANSWER:

Financial Statement of Sh. Pawan Kumar

Trading Account 

for the year ended March 31, 2014
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Profit and Loss Account
for the year ended March 31, 2014
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation
Depreciationon Plant & Machinery Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Depreciationon Horse &Carts =Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2: Calculation of Provision for Doubtful Debts

Provision for Doubtful Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN3: Calculation of Outstanding Expenses
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN4: Calculation of Accrued Interest on Ram’s Loan
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.101:
Question 23:
The following balances were extracted from the books of Modern Traders as at 31st March, 2017:-
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Prepare Final Accounts for the year ended 31st March, 2017 after taking into account the following:
(i) Stock on 31st March, 2017 was valued at ₹ 15,000.
(ii) Goods costing ₹ 6,000 were sent to a customer on "Sale on Return basis" for ₹ 7,200 on 26th March, 2017 and had been recorded in the books as actual sales.
(iii) Provision for Doubtful Debts is to be maintained at 5% of the Debtors.
(iv) Prepaid Insurance was ₹ 100.
(v) Provide Depreciation on Plant and Machinery @ 10% and on Furniture @ 5%.
ANSWER:
Financial Statements of Modern Traders
Trading Account 
for the year ended March 31, 2017
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Profit and Loss Account 
for the year ended March 31, 2017
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Balance Sheet 
as on March 31, 2017
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2: Calculation of Provision for Doubtful Debts
Provision for Doubtful Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.101:
Question 24:
The following Trial Balance has been extracted from the books of Shri Santosh Kumar as at 31st March, 2017:-
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

The following additional information is available:-
(I) Stock on 31st March, 2017 was ₹ 30,800.
(II) Depreciation is to be charged on Plant and Machinery at 5% and Furniture at 6%. Loose Tools are revalued at ₹ 16,000.
(III) Create a provision of 2% for Discount on Debtors.
(IV) Salary of ₹ 2,000 paid to Shri B. Barua, a temporary employee, stands debited to his personal account and it is to be corrected.
(V) Write off 1/5th of advertisement expenses.

You are to prepare Trading and Profit & Loss Account for the year ended 31st March, 2017 and a Balance Sheet as at that date.
ANSWER:
Financial Statements of Shri Santosh Kumar
Trading Account
for the year ended March 31, 2017

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Profit and Loss Account
for the year ended March 31, 2017

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Balance Sheet
as on March 31, 2017

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2: Calculation of Provision for Discount on Debtors
Provision for Discounton Debtors = Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN3: Calculation of Accrued Interest on Investment
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.102:
Question 25:

From the following Trial Balance of Sh. Swamy Narain, prepare Trading and Profit & Loss Account for the year ended 31st March 2018 and a Balance Sheet as at that date:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Adjustments:
(i) Stock on 31 March, 2018 was valued at ₹ 60,000.
(ii) A new machine was installed during the year costing ₹ 2,00,000 but it was not recorded in the books. Wages paid for its installation ₹ 10,000 have been debited to Wages Account.
(iii) An advance of ₹ 10,000 given alongwith purchase order was wrongly recorded in purchases.
(iv) General expenses include ₹ 20,000 paid for Wages.
(v) Wages include a sum of ₹ 50,000 spent on the erection of a Scooter Stand for employees.
(vi) Advance for Furniture is for furniture at proprietor's residence.
(vii) Depreciate Furniture at 15%, Plant & Machinery at 20% and Building at 10%.
(viii) Carry forward 2/3 of Advertisement Expenses as unexpired.
(ix) A B/R of ₹ 20,000 was discounted with bank on 15 Nov. 2017, but not yet matured.

ANSWER:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce


Page No 22.103:
Question 26:
Following is the Trial Balance as on 31st March 2016. Prepare Trading and Profit and Loss Account and Balance Sheet :-
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Additional Information :
(a) Stock on 31st March 2016 is ₹ 20,600.
(b) Depreciate machinery @ 10% p.a.
(c) Make a Provision @ 5% for Doubtful Debts.
(d) Provide Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce for discount on sundry debtors.
(e) Rent and Rates include security deposit of ₹ 400.
(f) Insurance prepaid ₹ 120.
ANSWER:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce


Balance Sheet
as on March 31, 2016

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.104:

Question 27:
From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date.
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Additional Information:
Stock on 31st March 2016 was ₹ 12,450. Rent was unpaid to the extent of ₹ 85 and ₹ 150 were outstanding for Trade Expenses. ₹ 400 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 10% and premises by 2%. Manager is entitled a commission of 5% on net profit after charging his commission.
ANSWER:
Trading Account
for the year ended March 31, 2016

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.105:

Question 28:
The following is the Trial Balance of Pankaj as on 31st March, 2015:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Adjustment:-
(i) Closing stock was valued at ₹ 12,000.
(ii) Wages have been paid for 10 months.
(iii) Write off ₹ 500 as further bad debts and provide 5% provision for doubtful debts.
(iv) Outstanding interest on loan ₹ 700.
(v) Depreciate machinery @ 5%
(b) Does question depict any value?
ANSWER:
(a)
Financial Statement of….
Trading Account
for the year ended 31 March,2015
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Profit and Loss Account
for the year ended March 31,2015
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Balance Sheet
as on March 31, 2015

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
(b) Values Involved:
(i) Matching principle has been adopted (outstanding wages and depreciation)
(ii) Prudence principle has been adopted (provision for bad and doubtful debts) 

Page No 22.106:
Question 29:
Following are balances from the trial balance of Ritesh Traders as at 31st March 2008:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Prepare Trading and Profit & Loss Account for the year ended 31st March 2008 and Balance Sheet as at that date after taking into account the following adjustments:
(i) Closing Stock was valued at ₹  19,000.
(ii) Depreciation to be provided on Land and Building @ 5% p.a. and on Plant & Machinery @ 10% p.a.
(iii) Write off ₹ 2,000 as Bad debt.
(iv) Insurance was prepaid ₹ 700.
(v) Create provision for doubtful debts @ 5% on debtors.
(vi) Wages include ₹ 4,800 for installation of a new machinery.

ANSWER:
Financial Statement of Ritesh Traders
Trading Account
for the year ended March 31, 2008
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Note:
WN1Calculation of Depreciation
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce 
WN2: Calculation of Provision for Doubtful Debts
Provisionfor Doubtful Debts =
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.107:

Question 30:
Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2013:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Adjustments:-
(i) Closing Stock was valued at ₹ 1,12,500.
(ii) Commission include ₹ 1,200 being commission received in advance.
(iii) Salaries and wages is outstanding for the month of Feb. & March, 2013.
(iv) Depreciate Plant & Machinery by 15% and Motor Vehicle by 20%.
(v) Write off ₹ 500 as further Bad Debts and maintain provision for doubtful debts at 1% on debtors.
ANSWER:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Note:
WN1: Calculation of Amount of Depreciation
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2: Calculation of Provision for Doubtful Debts
Provision for Doubtful Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN3: Calculation of Outstanding Salaries and Wages
Salaries and Wages paid for 10 months = 24,000
Salaries and Wages outstanding for 2 months = Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.107:

Question 31:
The following balances were taken from the books of Shri R. Lal as at 31st March, 2017.
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Prepare Trading and Profit & Loss A/c and a Balance Sheet as at 31st March, 2017, after keeping in view the following adjustments:
(i) Depreciate old Building at 2 1/2% and addition to Building at 2% and Office Furniture at 5%.
(ii) Write off further Bad-debts ₹ 570.
(iii) Increase the Bad-debts Provision to 6% of Debtors.
(iv) On 31st March, 2017 ₹ 570 are outstanding for salary.
(v) Rent receivable ₹ 200 on 31st March, 2017.

(vi) Interest on capital at 5% to be charged.

(vii) Unexpired Insurance ₹ 240.

(viii) Stock was valued at ₹ 14,290 on 31st March, 2017.

ANSWER:

Financial Statements of Shri R. Lal

Trading Account 

for the year ended March 31, 2017
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2: Calculation of Provision for Doubtful Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.108:
Question 32:
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:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Additional Information:
(i) Closing stock on 31st March, 2010 is valued at ₹ 6,50,000. Goods worth ₹ 5,000 are reported to have been taken away by the proprietor for his personal use at home during the year.
(ii) Interest on investments ₹ 5,000 is yet to be received while ₹ 10,000 of the commission received is yet to be earned.
(iii) ₹ 5,000 of the fire insurance premium paid is in respect of the quarter ending 30th June, 2010.
(iv) Salaries ₹ 10,000 for March, 2010 and bank overdraft interest estimated at ₹ 20,000 are yet to be recorded as outstanding charges.
(v) Depreciation is to be provided on land and buildings @ 5% per annum and on furniture and fittings @ 10% per annum.
(vi) Make a provision for doubtful debts @ 5% of trade debtors.
ANSWER:

Financial Statements of Karan
Trading Account 
for the year ended March 31, 2010
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2Calculation of Provision for Doubtful Debts
Provision for Doubtful Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Page No 22.109:

Question 33:
The following is the trial balance of Mr. Amar Chand as at 31st March, 2016:-
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Taking into account the following adjustments, prepare Trading and Profit & Loss Account and the Balance Sheet as at 31st March, 2016:-
1. Stock on 31st March, 2016 was valued at ₹ 46,000.
2. Depreciate Furniture at 15% p.a. and Sales Van at 20% p.a.
3. A sum of ₹ 200 is due for repairs.
4. Write off ₹ 2,000 as further bad-debts and create a provision for doubtful debts @ 5% on Debtors. Also provide 2% for discount on Debtors.
5. Rent is paid at the rate of ₹ 1,000 per month.
6. Allow 8% interest on Capital and charge ₹ 1,500 as interest on Drawings.

ANSWER:
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

Working Notes:
WN1: Calculation of Amount of Depreciation

Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
WN2Calculation of Provision for Bad Debts
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce 
WN3: Calculation of Provision for Discount on Debtors
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

WN4: Calculation of Outstanding Rent

Rent is paid @ Rs 1,000 per month

Annual Rent = 1,000 × 12 = Rs 12,000

Rent Already Paid = Rs 10,000

Therefore, Outstanding Rent = Rs 2,000

WN5: Calculation of Prepaid Insurance
Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce

The document Financial Statements with Adjustments (Part - 3) Notes | Study DK Goel Solutions - Class 11 Accountancy - Commerce is a part of the Commerce Course DK Goel Solutions - Class 11 Accountancy.
All you need of Commerce at this link: Commerce

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