[CBSE] Q 17, Q 18 Accounts for Incomplete Records Solutions (2025-26)
Solution of Question number 17 and 18 Accounts for Incomplete Records (Single Entry System) CBSE Board (2025-26)
Q. 17. On 1st April, 2024, X started a business with ₹ 40,000 as his capital. On 31st March, 2025, his position was as follows:
| Creditors | 40,000 |
| Bank | 10,000 |
| Debtors | 50,000 |
| Stock | 40,000 |
| Plant | 68,000 |
| Furniture | 12,000 |
During the year 2022-23, X drew ₹ 24,000. On 1st october, 2022, he introduced further capital amounting to ₹ 30,000. You are required to ascertain profit or loss made by him during the year 2022-23.
Adjustments:
(a) Plant is to be depreciated at 10%.
(b) A provision of 5% is to be made against debtors.
Also prepare the Statement of Affairs as on 31st March, 2023.
[Profit – ₹ 84,700; Adjusted Capital (31st March 2023) – ₹ 1,30,700; Total of Statement of Affiars as on 31st March, 2023 – ₹ 1,70,700.]
Solution:-
Q. 18. Akashdeep does not keep records as per Double Entry System. He provides the following information:
| 1st April, 2024 (₹) | 31st March, 2025 (₹) | |
| Cash in Hand | 14,000 | 52,000 |
| Bank Overdraft | 30,000 | — |
| Stock | 50,000 | 80,000 |
| Sundry Creditors | 32,000 | 52,000 |
| Sundry Debtors | 60,000 | 1,40,000 |
| Furniture | 40,000 | 60,000 |
| Machinery | 50,000 | 1,00,000 |
| Investment | 30,000 | 80,000 |
Drawings ₹ 10,000 p.m. for personal use, fresh capital introduced during the year ₹ 2,00,000, Bad debts amounted to ₹ 2,000 and a provision of 5% is to be made on debtors. Outstanding salary ₹ 2,400. prepaid insurance ₹ 700, depreciation charged on furniture and machine @ 10%.
You are required to prepare Statement of Profit & Loss for the year ending 31st March, 2025 and Adjusted Statement of Affairs as on the date.
[Ans.: Opening Capital – ₹ 1,82,000; Total of Statement of Affairs (Before Adjustemnt) – ₹ 5,12,000; Net Profit – ₹ 1,71,400; Total os Statement of Affairs (Adjusted) as at 31st March, 2025 – ₹ 4,87,800.]
Solution:-
Following is the list
