[ISC] Q 13 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)
Solution to Question number 13 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?
Kumaran, a trader, does not keep proper books of account, However, he furnishes you the following particulars:
| 1st April, 2022 (₹) | 31st March, 2023 (₹) | |
| Cash in Hand Bank Overdraft Stock-in-Trade Sundry Debtors Sundry Creditors Bills Receivable Building Furniture Bills Payable | 5,350 45,000 59,350 42,400 38,600 30,200 53,000 4,600 62,000 | 5,400 40,000 62,200 40,800 37,200 29,800 53,000 4,600 58,000 |
Additional Information:
(a) Drawings during the year amounted to ₹ 11,000.
(b) Additional capital introduced ₹ 5,000.
(c) Depreciation is to be provided on building @ 2% and on furniture at 10%.
(d) Provision for Doubtful Debts at 2% on Sundry Debtors.
Prepare a Statement of profit or Loss showing Gross Profit and Net Profit for the year ended 31st March, 2023 and adjusted Statement of Affairs as at that date.
Solution:-
Working Notes:-
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