{"id":83606,"date":"2023-08-15T14:14:00","date_gmt":"2023-08-15T08:44:00","guid":{"rendered":"https:\/\/www.kopykitab.com\/blog\/?p=83606"},"modified":"2023-08-16T20:37:51","modified_gmt":"2023-08-16T15:07:51","slug":"ts-grewal-class-11-accountancy-solutions-chapter-14","status":"publish","type":"post","link":"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/","title":{"rendered":"TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements 2023-24"},"content":{"rendered":"\n<p><img class=\"alignnone wp-image-135541 size-full\" src=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/Chapter-14-Adjacements-in-Preparation-of-Financial-Statements.jpg\" alt=\"TS Grewal Class 11 Accountancy Solutions Chapter 14 - Adjustments in Preparation of Financial Statements\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/Chapter-14-Adjacements-in-Preparation-of-Financial-Statements.jpg 1200w, https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/Chapter-14-Adjacements-in-Preparation-of-Financial-Statements-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><strong>TS Grewal Class 11 Accountancy Solutions Chapter 14<\/strong>: Financial statements and their importance is the topic which is important not just for 11th class, but for 12th class as well. &nbsp;A precise financial statement must be prepared by the students and to understand that TS Grewal Class 11 Accountancy Solutions has given different easy methods. TS Grewal explains the student in such a way that they a precise statement.&nbsp;<\/p>\n<ul>\n<li><strong>Read More: <a href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-solutions\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;TS Grewal Class 11 Solutions&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:5053,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;11&quot;:0,&quot;12&quot;:0,&quot;15&quot;:&quot;Arial&quot;}\" data-sheets-note=\"https:\/\/www.kopykitab.com\/blog\/cbse-class-10-maths-rs-aggarwal-solutions\/\nhttps:\/\/www.kopykitab.com\/blog\/cbse-class-11-maths-rs-aggarwal-solutions\/\">TS Grewal Class 11 Solutions<\/span><\/a><\/strong><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69ea8ce6cfdb6\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69ea8ce6cfdb6\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-visibility-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-download-free-pdf\" title=\"TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements | Download Free PDF\">TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements | Download Free PDF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#detailed-explanation-for-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-ts-grewal-class-11-accountancy-solutions\" title=\"Detailed Explanation for Chapter 14 &#8211; Adjustments in Preparation of Financial Statements, TS Grewal Class 11 Accountancy Solutions\">Detailed Explanation for Chapter 14 &#8211; Adjustments in Preparation of Financial Statements, TS Grewal Class 11 Accountancy Solutions<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#points-to-remember\" title=\"Points to remember:&nbsp;\">Points to remember:&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-sample-questions\" title=\"TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements: Sample Questions&nbsp;\">TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements: Sample Questions&nbsp;<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#sample-question-1\" title=\"Sample question 1:\">Sample question 1:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#answer\" title=\"Answer:\">Answer:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#faqs-ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements\" title=\"FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements\">FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#what-is-a-financial-statement\" title=\"What is a financial statement?\">What is a financial statement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#what-are-the-steps-to-prepare-a-financial-statement\" title=\"What are the steps to prepare a financial statement?\">What are the steps to prepare a financial statement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#what-are-the-uses-of-a-financial-statement\" title=\"What are the uses of a financial statement?\">What are the uses of a financial statement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/#can-i-download-ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-free-pdf\" title=\"Can I download TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements free PDF? \">Can I download TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements free PDF? <\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-download-free-pdf\"><\/span>TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements | Download Free PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-14.pdf\">TS Grewal Class 11 Accountancy Solutions Chapter 14<\/a><\/p>\n<div id=\"example1\" style=\"text-align: justify;\">&nbsp;<\/div>\n<p style=\"text-align: justify;\"><style>\n.pdfobject-container { height: 500px;}<br \/>\n.pdfobject { border: 1px solid #666; }<br \/>\n<\/style><\/p>\n<p style=\"text-align: justify;\"><script src=\"https:\/\/www.kopykitab.com\/_utility\/js\/pdfobject.min.js\"><\/script><br><script>PDFObject.embed(\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/04\/TS-Grewal-Class-11-Accountancy-Solutions-Chapter-14.pdf\", \"#example1\");<\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"detailed-explanation-for-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-ts-grewal-class-11-accountancy-solutions\"><\/span>Detailed Explanation for Chapter 14 &#8211; Adjustments in Preparation of Financial Statements, TS Grewal Class 11 Accountancy Solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Answering the first part, i.e., the meaning of a financial statement, TS Grewal Class 11 Accountancy Solutions explains a financial statement like a formal statement that shows all the financial activities of a firm or a company. It guides you for future investment in a business.&nbsp;<\/p>\n<p>An introductory financial statement begins with keeping daily entries like book keeping. At the end of the month, you can pull and organize the data from the records and get your financial statements together.&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"points-to-remember\"><\/span><strong>Points to remember:&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements has given the following points to remember while preparing a financial statement.&nbsp;<\/p>\n<ol>\n<li>Every financial statement you see will tell you a different scenario about the business. Each financial report consists of different combinations of information that require unique insights into a business.&nbsp;<\/li>\n<li>While preparing a financial statement, remember it will reflect on the real-life events of your firm\/company, be it profit or loss.&nbsp;<\/li>\n<li>You will get to know a lot of business and financial jargon that might be hard to understand at first. TS Grewal Class 11 Accountancy Solutions prepares you for that.&nbsp;<\/li>\n<li>Many things are going behind the scenes of financial reporting which you may not convey into numbers alone. For that keep footnotes handy all the time.&nbsp;<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-sample-questions\"><\/span>TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements: Sample Questions&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"sample-question-1\"><\/span>Sample question 1:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The table shows the balances extracted from the books of Manish Gupta on 31<sup>st<\/sup> March 2018.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"223\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"96\">\n<p>Rs.<\/p>\n<\/td>\n<td width=\"216\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"103\">\n<p>Rs.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Capital<\/p>\n<\/td>\n<td width=\"96\">\n<p>1,90,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Cash at bank<\/p>\n<\/td>\n<td width=\"103\">\n<p>26,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Drawing<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Salaries<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp; 8,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Plant &amp; machinery<\/p>\n<\/td>\n<td width=\"96\">\n<p>1,20,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Repairs<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp; 1,900<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Delivery Vehicle<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp; 26,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Stock on 1<sup>st<\/sup> April 2017<\/p>\n<\/td>\n<td width=\"103\">\n<p>16,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Sundry Debtors<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp; 36,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Rent<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;&nbsp; 4,500<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Sundry Creditors<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp; 26,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Manufacturing expenses<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;&nbsp;&nbsp; 1,500<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Purchases<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp; 20,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Bills payable&nbsp;<\/p>\n<\/td>\n<td width=\"103\">\n<p>23,500<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Sales<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp; 42,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Bad debts<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;&nbsp; 5,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"223\">\n<p>Wages<\/p>\n<\/td>\n<td width=\"96\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Carriage<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;&nbsp; 1,600<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Prepare a Trading, Profit and Loss Account and Balance Sheet as of 31<sup>st<\/sup> March 2018 after the following changes have been made:<\/p>\n<ol>\n<li>The closing stock was Rs. 16,000.<\/li>\n<li>Depreciate Plant &amp; Machinery at the rate of 10% and delivery vehicle at the rate of 15%.<\/li>\n<li>Unpaid rent amounted to Rs. 500.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"answer\"><\/span>Answer:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Trading Account<\/p>\n<p>For the year ended 31<sup>st<\/sup> March 2018<\/p>\n<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Dr.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Cr.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"160\">\n<p>Particulars<\/p>\n<\/td>\n<td width=\"160\">\n<p>Rs.<\/p>\n<\/td>\n<td width=\"160\">\n<p>Particulars<\/p>\n<\/td>\n<td width=\"160\">\n<p>Rs.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Opening stock<\/p>\n<\/td>\n<td width=\"160\">\n<p>16,000<\/p>\n<\/td>\n<td width=\"160\">\n<p>By sales<\/p>\n<\/td>\n<td width=\"160\">\n<p>42,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Purchases<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;20,000<\/p>\n<\/td>\n<td width=\"160\">\n<p>By closing stock<\/p>\n<\/td>\n<td width=\"160\">\n<p>16,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Wages<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;&nbsp; 8,000<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Manufacturing expenses<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp; &nbsp;1,500<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Carriage<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;&nbsp; 1,600<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>To Gross profit c\/d<\/p>\n<\/td>\n<td width=\"160\">\n<p>10,900<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>58,000<\/p>\n<\/td>\n<td width=\"160\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"160\">\n<p>58,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Profit and loss account<\/p>\n<p>For the year ended 31<sup>st<\/sup> March 2018<\/p>\n<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Dr.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Cr.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"217\">\n<p>Particulars<\/p>\n<\/td>\n<td width=\"102\">\n<p>Rs.<\/p>\n<\/td>\n<td width=\"228\">\n<p>Particulars<\/p>\n<\/td>\n<td width=\"91\">\n<p>Rs.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Salaries<\/p>\n<\/td>\n<td width=\"102\">\n<p>8,000<\/p>\n<\/td>\n<td width=\"228\">\n<p>By Gross profit b\/d<\/p>\n<\/td>\n<td width=\"91\">\n<p>10,900<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Repairs<\/p>\n<\/td>\n<td width=\"102\">\n<p>1,900<\/p>\n<\/td>\n<td width=\"228\">\n<p>By Net Loss c\/d<\/p>\n<\/td>\n<td width=\"91\">\n<p>24,900<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Rent&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,500<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Add unpaid rent&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500<\/p>\n<\/td>\n<td width=\"102\">\n<p>5,000<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Bad debts<\/p>\n<\/td>\n<td width=\"102\">\n<p>5,000<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Depreciation On<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Plant &amp; machinery&nbsp;&nbsp;&nbsp; 12,000<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>To Delivery Vehicle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,900<\/p>\n<\/td>\n<td width=\"102\">\n<p>15,900<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"102\">\n<p>35,800<\/p>\n<\/td>\n<td width=\"228\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"91\">\n<p>35,800<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Balance sheet as of 31<sup>st<\/sup> March 2018<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"217\">\n<p>Liabilities<\/p>\n<\/td>\n<td width=\"102\">\n<p>Rs.<\/p>\n<\/td>\n<td width=\"216\">\n<p>Assets<\/p>\n<\/td>\n<td width=\"103\">\n<p>Rs.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Capital &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,90,000<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"216\">\n<p>Fined assets:<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Less: Drawings&nbsp;&nbsp; 7,000 &nbsp;&nbsp;<\/p>\n<p>Less: Net loss&nbsp;&nbsp; 24,900<\/p>\n<\/td>\n<td width=\"102\">\n<p>1,58,100<\/p>\n<\/td>\n<td width=\"216\">\n<p>Plant &amp; machinery&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,20,000&nbsp;&nbsp;&nbsp;<\/p>\n<p>Less: 10% dep.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,000<\/p>\n<p>Delivery Vehicle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26,000<\/p>\n<p>Less: 15% dep.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,900<\/p>\n<\/td>\n<td width=\"103\">\n<p>1,08,000<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>22,100<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Current Liabilities<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"216\">\n<p>Current Assets<\/p>\n<\/td>\n<td width=\"103\">\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Sundry Creditors<\/p>\n<\/td>\n<td width=\"102\">\n<p>26,000<\/p>\n<\/td>\n<td width=\"216\">\n<p>Closing stock<\/p>\n<\/td>\n<td width=\"103\">\n<p>16,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Bills payable&nbsp;<\/p>\n<\/td>\n<td width=\"102\">\n<p>23,500<\/p>\n<\/td>\n<td width=\"216\">\n<p>Sundry Debtors<\/p>\n<\/td>\n<td width=\"103\">\n<p>36,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>Unpaid Rent<\/p>\n<\/td>\n<td width=\"102\">\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500<\/p>\n<\/td>\n<td width=\"216\">\n<p>Cash at bank<\/p>\n<\/td>\n<td width=\"103\">\n<p>26,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"217\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"102\">\n<p>2,08,100<\/p>\n<\/td>\n<td width=\"216\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"103\">\n<p>2,08,100<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"content-box-orange\">\n<p>We have included complete information regarding <a href=\"https:\/\/www.cbse.gov.in\/\" target=\"_blank\" rel=\"noopener\">CBSE<\/a> TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements. If you have any queries regarding the Class 11 Accountancy exam, you can ask in the comment box.<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"faqs-ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements\"><\/span>FAQs: TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1618246306750\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-is-a-financial-statement\"><\/span>What is a financial statement?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A financial statement is like a formal statement that shows all the financial activities of a firm or a company. It guides you for future investment in a business.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1618246328806\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-steps-to-prepare-a-financial-statement\"><\/span>What are the steps to prepare a financial statement?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The steps to prepare a financial statement are as follows:<br \/>1. Analyzing and recording transactions.<br \/>2. Posting the transactions to the ledger.<br \/>3. Preparing an unadjusted trial balance.<br \/>4. Prepare to adjust entries at the end of the time.\u00a0<br \/>5. Preparing an adjusted trial balance.<br \/>6. Preparing financial statements.\u00a0<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1618246380135\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-uses-of-a-financial-statement\"><\/span>What are the uses of a financial statement?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>A financial statement can be used for:<br \/>1. For stock trading.<br \/>2. For deciding the taxation and regulation policy by the government.\u00a0<br \/>3. Useful for investors in the decision-making process.<br \/>Determining the final position of a business.\u00a0\u00a0<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1633509788412\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"can-i-download-ts-grewal-class-11-accountancy-solutions-chapter-14-%e2%80%93-adjustments-in-preparation-of-financial-statements-free-pdf\"><\/span>Can I download TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements free PDF? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Yes, you can download TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements free PDF. <\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>TS Grewal Class 11 Accountancy Solutions Chapter 14: Financial statements and their importance is the topic which is important not just for 11th class, but for 12th class as well. &nbsp;A precise financial statement must be prepared by the students and to understand that TS Grewal Class 11 Accountancy Solutions has given different easy methods. &#8230; <a title=\"TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements 2023-24\" class=\"read-more\" href=\"https:\/\/www.kopykitab.com\/blog\/ts-grewal-class-11-accountancy-solutions-chapter-14\/\" aria-label=\"More on TS Grewal Class 11 Accountancy Solutions Chapter 14 &#8211; Adjustments in Preparation of Financial Statements 2023-24\">Read more<\/a><\/p>\n","protected":false},"author":244,"featured_media":135541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[73694,2917,73410],"tags":[62123,75066,3570,75067],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83606"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=83606"}],"version-history":[{"count":5,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83606\/revisions"}],"predecessor-version":[{"id":455380,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/83606\/revisions\/455380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media\/135541"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=83606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=83606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=83606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}