[ISC] Q 14 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)
Solution to Question number 14 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?
Angad keeps his books on Single Entry System, He gives the following information:
1st April, 2021 (₹) | 31st March, 2022 (₹) | |
Stock in Hand Debtors Creditors Bills Receivable Bills Payable Furniture Building Bank Balance | 18,700 12,000 9,000 4,000 1,000 600 12,000 4,350 | 23,400 14,000 1,500 5,000 200 600 12,000 3,350 (Cr.) |
You are also given the following information:
(a) A provision of ₹ 1,450 is required for doubtful debts.
(b) Depreciation @ 5% is to be written off on building and furniture.
(c) Wages outstanding ₹ 3,000, salaries outstanding ₹ 1,200.
(d) Prepaid insurance has been provided to the extent of ₹ 250.
(e) Legal expenses outstanding ₹ 700.
(f) Drawings of Angad during the year were ₹ 7,520.
You are required to find out the profit/loss for the year ended 31st March,
![](https://commerceschool.in/wp-content/uploads/2023/10/q14-11-1024x381.webp)
![](https://commerceschool.in/wp-content/uploads/2023/10/q141-1024x427.webp)
Solution:-
![](https://commerceschool.in/wp-content/uploads/2023/10/1-197-1024x451.webp)
![](https://commerceschool.in/wp-content/uploads/2023/10/2-89-1024x505.webp)
![](https://commerceschool.in/wp-content/uploads/2023/10/3-38-1024x623.webp)
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