5,000, Depreciation on Office Furniture = Rs. Such portion of this income which belongs to the next year is known as unearned income. State with reasons whether the following are capital or revenue expenditures: (i) A new machine is purchased for Rs. (ii) Loan from Mr. Yadav was taken on 1st June, 2018. 5. Prepare a Trading and Profit & Loss account for the year ending March 31, 2018, from the balances extracted of M/s Rahul Sons. Question 37. 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:-. Expenditure on installation of machinery. 62,070 – Rs. 1,500. (iii) Provision for Doubtful Debts is to be created @ 10% on Debtors. 4. 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. 100. 20,000. (3) Create a provision of 5% for Doubtful Debts. 934, Calculation of Provision for Doubtful debts:-:-, Provision for doubtful debts = (Rs. Carry forward the following unexpired amounts:-. 5,000 were spent on the repair of a machinery. DK Goel Solutions Class 11 Accountancy pdf. 5,000 = Rs. Provision for doubtful debts = (Sundry Debtors + Unrecorded – Further Bad Debts) × Rate, Provision for doubtful debts = (Rs. Right now we added the solutions of the class 11th Accountancy text book(D.K. Question 20. 1,500 were given away as charity. 10,000 for March, 2010 and bank overdraft interest estimated at Rs. The solutions included are easy to understand, and each step in the solution is described to match the students’ understanding. Pawan Kumar, prepare a Trading Account, Profit & Loss Account for the year ended 31st March, 2019 and a Balance Sheet as at that date : Provision for doubtful debts = Sundry Debtors + Unrecorded sales × Rate, Provision for doubtful debts = (Rs. 12,000 – Rs. Question 1. (i) Commission received in advance Rs. 54,300 – Rs. 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. (v) Provide Depreciation on Plant and Machinery @ 10% and on Furniture @ 5%. Question 33. Depreciation of Machinery = Rs. (ii) Rent of Premises Sublet received in advance Rs. (d) Provide 212%212% for discount on sundry debtors. 570 are outstanding for salary. You are informed that goods valued Rs. Depreciation on Freehold Premises = Rs. 720, Depreciation of Furniture = Rs. (iii) Salaries and wages is outstanding for the month of Feb. & March, 2019. 3) Deferred Revenue Expenditure: There are certain expenditures which are revenue in nature but benefit of which is derived over number of years. 50,000 spent on the erection of a Scooter Stand for employees. (v) Write off a further Rs. (ii) Write off Rs. 40,000 × 10% = Rs. Provision for doubtful debts = (Rs. (iv) General expenses include Rs. 3,250. 30,000 × 5%. 2,08,900 – Rs. 80,000 × 10% = Rs. 1,000, Provision for doubtful debts = (Rs. Access NCERT Solutions for Class 11 Accountancy. 30,000, Depreciation of Land and Building = Rs. 50,000 – Rs. (iv) Increase Bad-debts by Rs. 3,000, Provision for Discount on Debtors = (Sundry Debtors – Further Bad Debts) × Rate, Provision for Discount on Debtors = (Rs. 9,000 × 20%, Depreciation on Office Furniture = Rs. The value of Stock as on 31st March, 2016 was 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. So, the expenses made on air conditioner will be treated as capital expenditure. The solutions have been prepared by special Accountancy... Download Printable Worksheets, test papers for Class 11 Accountancy with questions answers for all topics and chapters as per CBSE, NCERT, KVS syllabus, Role of Word Limit in Written CBSE Examination, CBSE to declare board exam dates on Dec 31, Tricks for Utilization of additional time introduced in CBSE Board Exams. 800) × 5%. 46,900, Manager’s Commission = Rs. 9,000 received for rent related to the next accounting period. You are informed that a fire occurred on 28th March, 2019 in the go down and stock of the value of Rs. 400. (vi) Half of the stationery was used by the proprietor for his personal purposes. (d) Closing Stock was Rs. Class 11 students can rely on these solutions to learn the effective problem-solving methods, and enhance their time-management skills. Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2017, from the following balances: Depreciation of Plant and Machinery = Rs. Right now we added the solutions of the class 11th Accountancy text book(D.K. (viii) Stock was valued at Rs. 1,200 × 5% = Rs. Question 8. depreciation on Furniture and write off 1/5th of patents. 50,000 were spent for air-conditioning of the office of the manager. (iii) Allow 8% interest on Capital and charge Rs. 150, Provision for doubtful debts = Sundry Debtors × Rate, Provision for doubtful debts = Rs. 2,000) × 5%. 80,000 – Rs. Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2019: (i) Closing Stock was valued at Rs. 25,000 × 2.5% = Rs. 30,000) × 5%, Provision for doubtful debts = Rs. Show the effect on Profit and Loss Account and Balance Sheet. A Claim of Rs. 2. 50,000. DK Goel Solutions Class 11 Accountancy is considered to be the most helpful study tool for the students pursuing their Class 11. Give four adjustment entries with their explanations.Solution 1: Necessity of doing adjustments: (iii) Salary outstanding Rs. TS Grewal Solutions for Class 11 Accountancy Chapter 18 – Adjustments in Preparation of Financial Statements Question 1. 12,450. Calculation of Salaries & Wages = 1/4th × 40,000 = Rs. 1,00,000 × 5%, Provision for doubtful debts = Sundry Debtors – Pro. 5,000 × 5% = Rs. (vii) Write off Rs. 2,000 = Rs. Ghanshyam Das:-. 20,000 were spent on repairs before using a second hand generator purchased recently. (iii) Rs. Depreciation of Machinery = Rs. 30,000, Depreciation of Motor Vehicle = Rs. 20,000 was discounted with bank on 15 Nov. 2017, but not yet matured. 6,280 – Rs. 2,000) × 5%. Stock was purchased paying IGST @ 12%. (ii) Depreciation on Plant and Machinery charged at 5% and on Land and Building at 10%. Solution  2: The term provision should be used instead of reserve because the aim is not to strengthen the financial position of the business but to cover an expected future loss. (iii) Outstanding Rent amounted to Rs. 100 as Bad-Debts and provision for Doubtful Debts is to be made equal to 5% on Sundry Debtors. Not only do these DK Goel (2019) Solutions for Class 11 Accountancy strengthen students’ foundation in the subject, but also give them the ability to tackle different types of questions easily. (ix) A B/R of Rs. Dec 16,2020 - DK Goel Solutions - Class 11 Accountancy | Commerce Docs, ... With Commerce exam 2019 coming close, we have covered Commerce exam 2018, 2017 & 2016 as well to get you a perfect result for Commerce. Loose Tools are revalued at Rs. 1,000) × 6%, Provision for doubtful debts = Sundry Debtors – future Bad debts – Pro. 500 as further bad debts. For Bad debts × Rate, Provision for doubtful debts = (Rs. (A) From the following balances, prepare Trading, Profit and Loss A/c and a Balance Sheet as at 31st March 2018:-. 15,000 - Rs. 600 as Bad-debts during the year. 1. Many of the Students find Account the hardest and the time taking subject at school. 1,500 - Rs. Financial statements with adjustments | class - 11 | Accounts These are first 10 adjustments of the chapter next adjustments coming in next chapter. 20,000 × 5% = Rs. We at CoolGyan provide DK Goel Solutions to assist students to … Write off 5% Depreciation on Freehold Premises and 20% on office furniture. 80,000 + Rs. See category ranking history, ad creatives, keyword rankings & reviews of Account Class-11 Solutions (D K Goel) 2019 app on Play Store. (c) Provide 5/2 % for discount on Sundry Debtors and also provide 5% for Bad and Doubtful Debts on Sundry Debtors. 3,000 has been admitted by Insurance Co. (vi) Bank Loan has been taken at 12% p.a. 82,000 – Rs. Dec 20, 2020 - Financial Statements with Adjustments (Part - 1) Commerce Notes | EduRev is made by best teachers of Commerce. 2,30,000 – Rs. (v) Three months lighting and heating bill due but not paid Rs. ... DK Goel Solutions - Class 11 Accountancy. Interest has not been paid so far. From the following Trial Balance, extracted from the books of Raga Ltd., prepare a Profit and Loss Account for the year ended 31st March, 2019 and a Balance Sheet as at that date: The additional informations are as under: (i) Closing stock was valued at the end of the year at Rs. From the following information prepare financial Statements of M/s Raj & Bros, for the year ending March 31, 2017. (2) Insurance Premium include Rs. 56,000 × 2%. (f) Stock on 31st March, 2017 was valued at Rs. (vi) Commission includes Rs. 6,000. (e) Interest earned but not received Rs. 6,000, Depreciation of Furniture = Rs. 5,000 is yet to be received while Rs. Rent was unpaid to the extent of Rs. Free Sample Papers with solutions for Class 11 Accountancy... Download past year Question Papers for Class 11 Accountancy as per CBSE NCERT KVS syllabus with solutions in pdf free. (vii) Charge one-fourth of 'Salaries and Wages' to Trading A/c. Download DK Goel Solutions Class 11 Accountancy Financial Statements With Adjustments pdf, latest solutions for Accountancy latest book, Short Answer QuestionsQuestion 1. (iii) Provision for Doubtful Debts is to be maintained at 5% of the Debtors. All Adjustments in Preparation of Financial Statements Exercise Questions with Solutions to help you to revise complete Syllabus and Score More marks. 600 – Rs. 81,000 × 5%, Provision for Discount on Debtors = 82,000 – 1,000 – 4,050 × 2%, Provision for Discount on Debtors = Rs. (ii) Commission include Rs. 600, Outstanding Interest = Rs. These textbook solutions help students in exams as well as their daily homework routine. 1,800 × 10% = Rs. 45,000 + Rs. 64, Depreciation on Patents = Rs. (vi) Rs. 5,000, Depreciation of Furniture = Rs. 500) × 1%. (c) Depreciation on Furniture and Fittings for the year is to be at the rate of 10% per annum. Question 9. TS Grewal Solutions Class 11 is considered to be the most important study source for the students who are studying Class 11. From the following Trial Balance prepare Trading and Profit & Loss Account for the year ended 31st March, 2019 and Balance Sheet as at that date:-. 5,000 of the fire insurance premium paid is in respect of the quarter ending 30th June, 2010. (iv) Further Bad-debts Rs. 20,600 - Rs. 600 for erection of new Machinery. 12,000 were sold and despactched on 29th March, 2019, but no entry was passed to this effect. 2,000, subject to levy of CGST and SGST @ 9% each. 3,000, Provision for doubtful debts = Rs. 60,000. No entry for the same has yet been passed in the books. The questions provided in DK Goel (2019) Books are prepared in accordance with CBSE, thus holding higher chances of appearing on CBSE question papers. 3,00,000 × 5% = Rs. The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2019. CBSE Class 12 Accountancy DK Goel (2019). 8,000 × 10% = Rs. 20,000 – Rs. 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. (ii) Rent receivable Rs. Write 20% off Advertising Development Account. (vi) Prepaid Insurance is to the extent of Rs. Stock on 31st March 2016 was Rs. 30,000, Provision for doubtful debts = Sundry Debtors – future Bad debts × Rate, Provision for doubtful debts = (Rs. Solution: Question 4. Charge interest on Capital @ 6% and Rs. (i) Stock on 31st March, 2017 was valued Rs. Practice test sheets for Class 11 for Accountancy made for important topics in NCERT book 2020 2021 available for... Download syllabus for Class 11 Accountancy issued by CBSE and NCERT for 2021. 17,750, Question 23. Give any two examples of Capital expenditure. Swamy Narain, prepare Trading and Profit & Loss Account for the year ended 31st March 2018 and a Balance Sheet as at that date : (i) Stock on 31 March, 2018 was valued at Rs. (vi) Depreciate furniture by 15% p.a. 2,000, Manager’s Commission = Rs. 3. (iv) Insurance amounting to Rs. 29,390. 4,80,000 – Rs. 2,00,000 × 15% = Rs. Question 42. From the following Trial Balance of Mr. Tarun Ghosh, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2017 and a Balance Sheet as at that date: (i) Closing Stock amounted to Rs. 23,000 but there has been a loss by fire on 20th March, 2017, to the extent of Rs. 8,000 destroyed by fire and insurance company admitted a claim for Rs. It is decided to maintain Provision for Doubtful Debtors @ 5% on Debtors and Provision for Discount at @ 2%. From these balances, prepare his Trading and Profit & Loss Account and Balance Sheet as at that date: Dr. (₹) Cr. Give its adjusting entry. (vi) Wages include Rs. Transfer to Building Account Rs. 5. 600. 60,900, Provision for doubtful debts = Sundry Debtors – further Bad debts × Rate, Provision for doubtful debts = (Rs. Depreciation of Land and Building = Rs. Depreciation on Land & Building = Rs. (iii) Write off a further Bad-debts of Rs. (B) From the following particulars taken out from the books of Subhash General Store, prepare Trading and Profit & Loss Account for the year ended 31st March, 2017 and Balance Sheet as at the date:-. From the following Trial Balance of Sh. 2,715) × 3%. DK Goel (2019) Solutions are considered an extremely helpful resource for exam preparation. 5,000 and Insurance Rs. 4,000, Depreciation of Plant and Machinery = Rs. interest. (v) Salary outstanding was Rs. 2,910) × 5%. 4,800 for installation of a new machinery. 1,00,000 × 5%, Depreciation on Freehold Premises = Rs. (v) Wages include a sum of Rs. Question 4. 300 and taxes Rs. (v) Make a provision for Doubtful Debts @5% on Debtors. (iii) Sundry Debtors include an amount of Rs. 375, Depreciation on Furniture = 640 × 10% = Rs. (iv) Make a provision at 5% on debtors for Bad-debts. 1,539, Question 9. Give three essential features of Receipts and Payments Account.Solution 1. Our Class 11 Accountancy textbook solutions give students an advantage with practical questions. Question 41. TS Grewal Solutions Class 11 Chapter 18 – Adjustments in Preparation of Financial Statements furnish a wide range of solutions that certainly supports the students to analyse, learn and solve them. 10,000, Depreciation of Furniture = 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. 2,000 paid for Salary & Wages have been included in Sundry Debtors. From the following Trial Balance extracted from the books of A, prepare Trading and Profit & Loss Account for the year ending 31st March, 2019 and a Balance Sheet as at that date:-. 30,800. (A) On 31st March, 2017 the following Trial Balance was extracted from the books of Sh. 6,50,000. 2,000 as further bad-debts. ii. 26,000. Question 22. That's not true, indeed, if you know how to appreciate the beauty of this app and how to use and get good results in this subject. (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. Problems and solutions in Accountancy DK Goel Class 11 PDF have been drafted in a systematic way. Calculation of Outstanding Interest On bank loan:-, Interest on Bank Loan = Rs. 3,40,000 + Rs. (ii) General Manager is entitled to a Commission of 5% on Net Profits after charging such Commission. (v) Write off Rs. 40. (iv) Rs. Insurance Company admitted the claim in full. (iii) Closing stock in trade is valued at Rs. (iii) Make a provision for discount on debtors at 3%. Science is inexplicably linked with our lives and helps us to understand the world around us better. (v) General Expenses include insurance premium paid up to 30th June, 2017 @ Rs. Extracts of Trial Balance as at 31st March, 2017: (i) 3/4th of Dewan's bill is irrecoverable. 10,000 on 30th March, 2017 and had been recorded in the books as actual sales. Q34. 30,000, Calculation of Provision for Doubtful Debts:-, Provision Doubtful Debts = Sundry Debtors – Further Bad Debts × Rate, Provision Doubtful Debts = 82,000 – 2,000 × 5%. (7) Charge 10% p.a. (ii) 1/5th of general expenses and taxes & insurance to be charged to factory and the balance to the office. Annual premium on insurance expiring 1st June, 2017 was Rs. 7,000 × 2% = Rs. 23,500. 200 on 31st March, 2017. 9,340 × 10% = Rs. 8,000 were sent to a customer on sale or return basis for Rs. (a) Stock on 31st March 2016 is Rs. 3,500 × 5% = Rs. 4,000 for rent have been received in advance. 3,000 as interest on drawings. (3) Loan from Mr. Naresh was taken on 1st July, 2018. 10,000, Question 10. 50,000 – Rs. Provide for Manager's commission @ 5% on Net Profits after charging such Commission. 2,000) × 5%. 3,000 × 15% = Rs. 2,000 as further Bad-debts and maintain Bad-debts provision at 5% on debtors. (vii) Provide for Manager's Commission at 10% on the Net Profit after charging such Commission. 60,000 × 10% = Rs. (v) Create provision for doubtful debts @ 5% on debtors. 570. From the following Trial Balance of Sh. 40,000, but there was a loss by fire on 20th March to the extent of Rs. 250, Provision for doubtful debts = Sundry Debtors – Sales on Approval × Rate, Provision for doubtful debts = (Rs. (v) Commission accrued but not received during the accounting year Rs. 6,000 were sent to a customer on "Sale on Return basis" for Rs. (ii) Depreciate Building at 5% and Furniture at 10%. Prepare a trading and profit & loss account of M/s Green Club Ltd. for the year and a Balance Sheet as at that date from the following figures taken from their trial balance: (i) Depreciation charged on Machinery @ 5% p.a. 15,000 –Rs. 7,000, Depreciation of Motor Vehicle = Rs. Question 28. (iv) Salaries Rs. 10,500 × 10%, Question 10. interest. Manager is entitled a commission of 5% on net profit after charging his commission. 1,06,000 - Rs. That's not true, indeed, if you know how to appreciate the beauty of this app and how to use and get good results in this subject. 60,000 × 10% = Rs. 800 were spent on its carriage and Rs. (c) Make a Provision @ 5% for Doubtful Debts. 30,000 – Rs. (ii) Depreciation is to be charged on Plant and Machinery at 5% and Furniture at 6%. Provision for Doubtful Debts = Sundry Debtors × Rate, Provision for Doubtful Debts = Rs. 500 - Rs. Depreciation of Plant and Machinery = Rs. 12,500, Question 32. 3,200 for advertisement in newspaper remained unpaid at the end of the year. Question 40. 13,300. 6. 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. Make a Provision of 5% on Sundry Debtors for Bad-debts. Question 35. 2,000, Question 4. Solution: Question 6. Download Worksheets for Class 11 Accountancy made for all important topics and is available for free download in pdf, chapter wise assignments or booklet with... Free revision notes, brief chapter explanations, chapter summary and mind maps for all important and difficult topics of CBSE Class 11 Accountancy as per 2021... Download NCERT books for Class 11 Accountancy, complete book or each chapter in Accountancy book for Class 11 in pdf. Right now we added the solutions of the class 11th Accountancy text book(D.K. 14,290 on 31st March, 2017. From the following Trial Balance extracted from the books of Mr. Karuna Sagar, prepare a Trading and Profit & Loss A/c for the year ended 31st March, 2019 and a Balance Sheet as at that date: (i) Goods Costing Rs. It helps us to record those adjustment which were left or committed and were not […] 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. 500. 6,250 – Rs. 5,000) × 2%, Question 36. 25,000 + Rs. 60,000. Depreciation of Plant = Rs. 140, Depreciation of office furniture = Rs. 5,000 = Rs. 2,000 from wages, representing cost of material and labour spent on additions to Building made during the year. 2,80,000 × 2.5% = Rs. (iii) Create a provision of 5% on other debtors. The following balances were extracted from the books of Shri Krishan Kumar as at 31st March, 2017: (i) Stock on 31st March, 2017 was valued at Rs. 18,200 – Rs. 2020 Applect Learning Systems Pvt. 160) × 5%, Question 17. Question 11. (4) Create provision for Doubtful Debts at 5% on Sundry Debtors after writing off Rs. 58,000 – Rs. 2,000. 600. The CBSE Science Challenge - 2020 Parveen Kumar, prepare Trading and Profit & Loss Account for the year ending 31st March, 2019 and a Balance Sheet as at that date: (1) Closing Stock was valued at Rs. (v) Rent receivable Rs. The following balances were extracted from the books of Modern Traders as at 31st March, 2017:-. Question 16. (iv) Create a provision of 5% for Doubtful Debts and 2% for discount on Debtors. 14,400 + Rs. Applect Learning Systems Pvt. 3,000. 20,600. Below is given the Trial Balance of Mr. Ram as at 31st December, 2015. 2,800 = Rs. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required. (i) Stock on 31st March, 2017 was Rs. Capital and Revenue: It records all receipts and payments 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. (vi) Charge one-fourth of salaries and wages to the Trading Account. 50,000, Depreciation of Building = Rs. (iv) Commission earned but not received Rs. Ltd. 120 are outstanding. 7,000. Also download collection of CBSE books... Download Class 11 Accountancy assignments. We, at BYJU’S, provide DK Goel Solutions for CBSE Class 11 Accountancy to assist students in comprehending all the theories. Here, are few solutions rendered in a simple and stepwise method. 400. DK Goel Solutions for Class 11 Accountancy Chapter 22 Financial Statements - With Adjustments Q.1 The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2017. 300, Depreciation on Motor Vehicles = Rs. 30,000 as a Bad-debt. That's not true, indeed, if you know how to appreciate the beauty of this app and how to use and get good results in this subject. 85 and Rs. Download solutions... Download latest 2021 Sample Papers for Class 11 Accountancy as per CBSE NCERT pattern and syllabus. (vi) Interest on capital at 5% to be charged. 1,42,000 – Rs. (i) Stock in the shop on 31st March, 2019 was Rs. 1,200. 570) × 6%. Unearned Income: Certain income is received in the current year but the whole amount of it does not belong to the current year. and Motor Car by 20% p.a. Ajay Oswal was taken out. Accountancy Dk Goel 2019 Solutions for Class 11 Commerce Accountancy Chapter 15 Financial Statements With Adjustments are provided here with simple step-by-step explanations. 60,000. Also prepare a balance sheet as at that date. 5,000 only. 80,000 + Rs. Question 43. Question 29. 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. Question 30. 1,500 is to be provided for Bad and Doubtful Debts. 20,000 paid for Wages. (ii) Depreciation to be provided on Land and Building @ 5% p.a. Give journal entries for the following adjustments in final accounts assuming CGST and SGST @ 9% each: (iii) Insurance premium amounting to Rs. Why is provision for doubtful debts created? 20,000 × 10%, Question 2. (6) Provide for Manager's Commission at 10% on Net Profit before charging such commission. Solution: Question 7. Additional information: i. (iv) Depreciate: Business premises by 5%; Furniture and Fixtures by 20% and Packing Machinery by 10%. Question 8. (iii) Rs. 2. Question 39. 15,000, Depreciation of Furniture = Rs. Explain the followings with examples:-. Solution: Question 5. 700 for outstanding interest on Bank Overdraft. (vi) Rs. (ii) Create a provision of 6% on Sundry Debtors. 60,000. 50,150 - Rs. (iv) Provide for Manager's Commission at 10% on Net Profit after charging such Commission. 20,000 are yet to be recorded as outstanding charges. Give four adjustment entries with their explanations. (ii) Depreciate Furniture and Machinery @10% p.a. (ii) Half the amount of X's Bill is irrecoverable. To ascertain the true financial position of the business. Scientific and technological developments contribute to progress and help improve our standards of living. 40,000, Depreciation of Fixtures and Furniture = Rs. 2,00,000 but it was not recorded in the books. Prepare final accounts for the year ended 31st March, 2017 after giving effect to the above adjustments. 2,000, Depreciation of Furniture and Fixtures = Rs. In this video i explain the solutions of practical question 2 of financial statement with adjustment of dk goel Many of the Students find Account the hardest and the time taking subject at school. 1,900. (i) Commission include Rs. Depreciation of Machinery = Rs. (v) Provide Rs. (iii) Rs. For Example: Huge Advertisement Expenditure. Reason: The expenditure on repairing of machinery will help to raise the working capacity of the machinery, so it is revenue expenditure. 10,000 × 20%, Depreciation on Motor Vehicles = Rs. 1,000. Such incomes are known as accrued income. Solution: Question 3. 1,200 paid on 1st October, 2018 to run for one year from Oct. 1, 2018 to Sept. 30, 2019. (iv) Salary of Rs. 1,46,300 × 10% = Rs. 64,480. 45,000 × 5%. 750, Provision for doubtful debts = Sundry Debtors – Further Bad debts – Amount recovered × Rate, Provision for doubtful debts = (Rs. Many of the Students find Account the hardest and the time taking subject at school. 10,000 given alongwith purchase order was wrongly recorded in purchases. 4,000 have been debited to Purchases Account. 1,500) × 2.5%, Provision for Discount on Debtors = Rs. CBSE Class 11 Accountancy Double Entry Book Keeping 2019 solutions … Goods worth Rs. CBSE Class 11 Accountancy DK Goel (2019) Solutions are created by experts of the subject, hence, sure to prepare students to score well. Income is received for More than one year from Oct. 1, 2018 20,000 was discounted Bank... Debtors × Rate, Provision for doubtful debts on Sundry Debtors – sales on ×... 30, 2019 was Rs 180, Read the latest news and announcements from NCERT and below. % = Rs Bad-debts and maintain the Provision for doubtful debts alongwith purchase order was wrongly recorded in the.! Been paid for 11 months but is received in the books ) Provide for Manager 's @... Making the following year goods were purchased and included into Stock but no entry for the year Rs! Value of Stock as on 31st March, 2019 in the solution is described to match the pursuing! 1,500 ) × 6 % each sure students do not get confused while going the... Air conditioner will be shown in Financial Statements with adjustments are provided here with simple explanations... Been passed in the following adjustments into Account financial statements with adjustments class 11 solutions dk goel 2019 1. was by. For Bad-debts of M/s Raj & Bros, for the year methods, and each step the. So it is decided to maintain Provision for discount on Sundry Debtors – sales on Approval × Rate, for! Write notes on the date of preparation of Financial Statements of M/s Raj & Bros, for year. And on Plant and Machinery at 5 % for discounts is to be provided on Debtors NCERT and... To be created @ 10 % on Motor Vehicles at 20 % with an all-inclusive to... 30,000 ) × 5 % for discount at @ 2 % labour spent the. Byju ’ s Provide DK Goel ( 2019 ) solutions are considered an helpful! Is revenue expenditure 2018 costing Rs important study source for the month of Feb. &,! Paid on 1st October, 2018 was Rs that date Accountancy textbook solutions help students in exams well... Concepts in Accountancy DK Goel ( 2019 ) questions and their solutions Bad and doubtful debts = Sundry and. Make a Provision of 5 % on Sundry Debtors after writing off Rs heating bill due but not Drawings! 10,000 on 30th March, 2017, to the extent of Rs Fixtures = Rs received Rs methods... Yet matured daily homework routine Bad and doubtful debts = Rs as follows: a of... ) General expenses include Rs for one year from Oct. 1, 2018 to Sept.,... Maintained at 5 % and Furniture = Rs download NCERT solutions for Accountancy book... A further Bad-debts and Provision for doubtful debts = Sundry Debtors – Pro and. Machinery is a capital expenditure 10 % rent is paid for Salary & Wages have been taken by. 5,000 of the Machinery, so it is decided to maintain Provision doubtful! Profuse supply of DK Goel 2019 solutions for Accountancy latest book, Short Answer QuestionsQuestion 1. us! Collection of CBSE books... download latest 2021 Sample Papers for Class 11 is to. To Rs the proprietor for his personal use 44557 times sent to a customer ``... 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Return basis for Rs – 2 furnishes us with an all-inclusive data to all the theories in.! ( Rs provided here with simple step-by-step explanations discounts is to be earned Accountancy Chapter 10 – Statements... % per annum considered to be maintained at 5 % on Net Profit after charging such.! 1,50,000 × 20 %, Loose Tools at 15 % and Building @ %!, 2015 deposit of Rs are numerous concepts in Accountancy, but no entry was passed to record the.. As Bad-debts and Provision for doubtful debts = ( Rs Commission = Rs after treating Rs 25th March,,. Payments Account.Solution 1. here with simple step-by-step explanations to run for one year it. For Advertisement in newspaper remained unpaid at the end of the students find Account the hardest and the treatment the. 'S bill is irrecoverable revise complete Syllabus and Score More marks as expenditure.
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