Chapter No. 18 – Financial Statements – (With Adjustments) – USHA Publication Class +1 – Solution

Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution

Meaning of Final Accounts

Final Accounts gives an idea about the profitability and financial position of a business to its management, owners, and other interested parties. It is a combination of the following statement: –

  1. Trading Account
  2. Profit and loss account
  3. Balance Sheet

Every businessman started a business to earn some income from it. Profit is the net income that the owner gets from the business. To calculate profit or loss, An accountant has made the final accounts for the business for a particular accounting period(i.e. One year starts from 1st April and end 31st March).

On the basis of the Trial balance, An accountant prepared the final accounts or financial statement for the particular period of time for reporting the management of the business. The final accounts are prepared to throw light on the financial results of the operation of the business during the particular accounting period of time and the financial position of the business at that period of time.

Check out the full article: –

Final Accounts: Definition and Explanation

Chapter No. 18 – Financial Statements – (With Adjustments) – USHA Publication Class +1 – Solution

Question wise solution of the all Questions of Chapter No. 18 – Financial Statements – (With Adjustments) – USHA Publication Class +1 – Solutions are shown below: –

Q 01 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 01 Chapter No 18 Outstanding expenses 01. The following balance were extracted from the trial balance of Miss ...
Show Full Solution
Q 02 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 02 Chapter No 18 Outstanding expenses 02.The following balances have been taken from the books of Rajiv Sharma as ...
Show Full Solution
Q 03 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 03 Chapter No 18 Outstanding expenses 03. The following balances are extracted from the books of Chandigarh Medical stores ...
Show Full Solution
Q 04 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 04 Chapter No 18 Outstanding expenses 04. The following balance have been extracted from the books of Miss Nazia ...
Show Full Solution
Q 05 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 05 Chapter No 18 Outstanding expenses 05. The following balances have been extracted from the books of Mohit Kumar ...
Show Full Solution
Q 06 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 06 Chapter No 18 Expenses & Income Expenses 06. Sri Jai Prakash has supplied to you the following trial ...
Show Full Solution
Q 07 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 07 Chapter No 18 Expenses & Income Expenses 07. The following trial balance is extracted from the books of ...
Show Full Solution
Q 08 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 08 Chapter No 18 Expenses & Income Expenses 08. Prepare Trading and Profit & Loss Account and Balance sheet ...
Show Full Solution
Q 09 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 09 Chapter No 18 Expenses & Income Expenses 09. Prepare a Trading Account and Profit & Loss Account and ...
Show Full Solution
Q 10 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 10 Chapter No 18 Expenses & Income Expenses 10. A book keeper has submitted to you the following trial ...
Show Full Solution
Q 11 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 11 Chapter No 18 Computation of value of items consumed 11. The following balance has been extracted from the ...
Show Full Solution
Q 12 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 12 Chapter No 18 Opening stock Valuation 12. D. Morarji's books show the following balances. You are required to ...
Show Full Solution
Q 13 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 13 Chapter No 18 Opening stock Valuation 13.From the following trial balance extracted from the book of Shivam, prepare ...
Show Full Solution
Q 14 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 14 Chapter No 18 Opening stock Valuation 14.Th following trail balances has been extracted from the books of Shamsher ...
Show Full Solution
Q 15 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 15 Chapter No 18 Interest on Drawings 15. The following is the trial balance of M/s Kasturi Agencies as ...
Show Full Solution
Q 16 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 16 Chapter No 18 Withdrawal of goods for personal use 16.The following balances have been taken from the trial ...
Show Full Solution
Q 17 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 17 Chapter No 18 Withdrawal of goods for personal use 17. The following balances have been taken from the ...
Show Full Solution
Q 18 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 18 Chapter No 18 Withdrawal of goods for personal use 18. The following balances have been extracted from the ...
Show Full Solution
Q 19 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 19 Chapter No 18 Interest on Drawings 19. From the following trail balance of Kabul Singh prepare Trading and ...
Show Full Solution
Q 20 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 20 Chapter No 18 Bad bets and Provision 20. The following balances have been taken from the trial balance ...
Show Full Solution
Q 21 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 21 Chapter No 18 Bad bets and Provision 21.The following balances have been extracted from the trial balances of ...
Show Full Solution
Q 22 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 22 Chapter No 18 Bad bets and Provision 22. On 1st April 2015 the provision for bad debts account ...
Show Full Solution
Q 23 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 23 Chapter No 18 Bad bets and Provision 23. On 1st April 2016 M/s Gopi Krishna had the provision ...
Show Full Solution
Q 24 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 24 Chapter No 18 Bad bets and Provision 24.The following items are found in the trial balances of Parkash ...
Show Full Solution
Q 25 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 25 Chapter No 18 Bad bets and Provision 25.The balances in the provision for bad debts and provision for ...
Show Full Solution
Q 26 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 26 Chapter No 18 Bad debts and provision 26. From the following trial balance of Alka & sons, ...
Show Full Solution
Q 27 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 27 Chapter No 18 Bad debts and provision 27. From the following trial balance of Kabul Singh prepare Trading ...
Show Full Solution
Q 28 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 28 Chapter No 18 Bad debts and provision 28. Prepare trading and profit & loss account of Udham ...
Show Full Solution
Q 29 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 29 Chapter No 18 Bad debts and provision 29.From the following trial balance extracted from the books of Sharma ...
Show Full Solution
Q 30 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 30 Chapter No 18 Goods are withdrawn for business and personal use 30.The following balance is taken from the ...
Show Full Solution
Q 31 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 31 Chapter No 18 Goods are withdrawn for business and personal use 31.The trial balance given is extracted from ...
Show Full Solution
Q 32 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 32 Chapter No 18 Goods are withdrawn for business and personal use 32.From the following balances taken from the ...
Show Full Solution
Q 33 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 33 Chapter No 18 Goods are withdrawn for business and personal use 33.From the balances given below and the ...
Show Full Solution
Q 34 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 34 Chapter No 18 Mutual indebtedness 34.The following balances have been taken for the books of Banke Bihari as ...
Show Full Solution
Q 35 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 35 Chapter No 18 Mutual indebtedness 35.The goods worth Rs 24,000 of miss Meena were destroyed in an accident ...
Show Full Solution
Q 36 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 36 Chapter No 18 Mutual indebtedness 36.The following balances have been extracted from the books of Miss Mehak as ...
Show Full Solution
Q 37 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 37 Chapter No 18 Mutual indebtedness 37. From the following figures taken from the books of Margret, prepare trading ...
Show Full Solution
Q 38 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 38 Chapter No 18 Mutual indebtedness 38.Te following balances were extracted from the books of Brijesh Chandra on 31st ...
Show Full Solution
Q 39 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 39 Chapter No 18 Mutual indebtedness 39. From the following figures extracted from the books of Mr. Kissinger for ...
Show Full Solution
Q 40 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 40 Chapter No 18 Mutual indebtedness 40. The following trial balance was extracted from the books of Ram Pratap ...
Show Full Solution
Q 41 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 41 Chapter No 18 Goods withdrawn for business and personal use 41. From the following ledger balances of Charan ...
Show Full Solution
Q 42 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 42 Chapter No 18 Goods withdrawn for business and personal use 42. The following balances are extracted from the ...
Show Full Solution
Q 43 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 43 Chapter No 18 Goods withdrawn for business and personal use 43. From the following trial balance of Sukhdev ...
Show Full Solution
Q 44 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 44 Chapter No 18 Goods are withdrawn for business and personal use 44.Trail balance of Shikhar Dhawan as of ...
Show Full Solution
Q 45 CH 18 USHA 1 Book 2020 Solution min 360x203 - Chapter No. 18 - Financial Statements - (With Adjustments) - USHA Publication Class +1 - Solution
Question No 45 Chapter No 18 Goods are withdrawn for business and personal use 45. The following is the trial of ...
Show Full Solution