GST Adjustment + Trading, P&L & Balance Sheet 🔥 | Class 11 Accounts

Class 11 Accountancy | Adjustments in Preparation of Financial Statements Part 10 | Full Practical Question with GST | CBSE 2026-27 Welcome back to Commerce With Rohan! 📚 In today's video, we will solve Question No. 41 from the chapter Adjustments in Preparation of Financial Statements for Class 11 Accountancy. This is Part 10 of our Financial Statements with Adjustments series. In this lecture, we will prepare the Trading Account, Profit & Loss Account and Balance Sheet with GST adjustments. The complete question is explained step by step in simple Hinglish with proper calculations, working notes and accounting treatment. 📚 TOPICS COVERED: ✅ Complete Trial Balance Question with GST ✅ Trading Account Preparation ✅ Profit & Loss Account Preparation ✅ Balance Sheet Preparation ✅ Outstanding Salary and Prepaid Insurance ✅ Commission Received in Advance ✅ Accrued Interest on Deposits ✅ Outstanding Interest on Bank Loan ✅ Provision for Doubtful Debts ✅ Depreciation on Furniture ✅ Closing Stock Valuation ✅ Loss of Stock by Fire – Fully Insured ✅ Input CGST and Input SGST ✅ Output CGST, Output SGST and Output IGST ✅ GST Set-Off and Balance Sheet Treatment ✅ Double Effect of Adjustments ✅ Important Working Notes 📖 QUESTION NO. 41 – ADJUSTMENTS: 1. Outstanding Salary – ₹3,000 2. Prepaid Insurance – ₹500 3. Commission Received in Advance – ₹1,000 4. Accrued Interest on Deposits – ₹2,100 5. Outstanding Interest on Bank Loan – ₹3,000 6. Provision for Doubtful Debts – ₹10,000 7. Depreciation on Furniture – 10% 8. Closing Stock at Cost – ₹45,000 9. Net Realisable Value of Stock – ₹50,000 10. Fire Loss – ₹10,000 (Fully Insured) The fire occurred on 1st April 2026, after the financial year ended on 31st March 2026. We will understand the significance of this date while discussing the adjustment. 🔥 GST ADJUSTMENT – IMPORTANT TOPIC Input CGST – ₹10,000 Input SGST – ₹10,000 Output CGST – ₹8,000 Output SGST – ₹8,000 Output IGST – ₹6,000 Learn how to adjust Input GST against Output GST and present the remaining GST balances correctly in the Balance Sheet. 🎯 WHAT WILL YOU LEARN? • How to solve a complete Final Accounts question with GST • How to calculate Gross Profit and Net Profit • How to prepare a Balance Sheet with adjustments • How to treat outstanding and prepaid expenses • How to adjust accrued and advance income • How to maintain Provision for Doubtful Debts • How to calculate depreciation • How to value Closing Stock at Cost or NRV, whichever is lower • How to understand GST Set-Off • How to prepare proper working notes 📌 VIDEO DETAILS: Class: 11 Subject: Accountancy Chapter: Adjustments in Preparation of Financial Statements Part: 10 Question: 41 Topic: Full Practical Question with GST Academic Session: 2026-27 Board: CBSE Channel: Commerce With Rohan This lecture is helpful for Class 11 Accountancy students preparing for school examinations, chapter revision and practical questions. If you find this video helpful, LIKE, SHARE and SUBSCRIBE to Commerce With Rohan for more Class 11 and Class 12 Accountancy lectures. 📲 Instagram: @commercewithrohan Thank You for Watching! 🔎 SEARCH KEYWORDS: Class 11 Accountancy, Adjustments in Preparation of Financial Statements Part 10, Financial Statements with GST, Final Accounts with GST, GST Adjustment Class 11, GST Set Off, Input CGST, Input SGST, Output CGST, Output SGST, Output IGST, Trading Account, Profit and Loss Account, Balance Sheet, TS Grewal Class 11, Question 41, Closing Stock, Provision for Doubtful Debts, CBSE Accountancy 2026-27, Commerce With Rohan #Class11Accountancy #FinancialStatements #Adjustments #GSTAdjustment #FinalAccounts #TradingAccount #BalanceSheet #TSGrewal #CommerceWithRohan