[CBSE] Q 11 Accounts for Incomplete Records Solutions (2023-24)
Solution of Question number 11 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)
Mahesh commenced business on 1st April 2022 with a capital of ₹ 10,000. He immediately bought furniture and fixtures for ₹ 2,000. On 1st October 2022, he borrowed ₹ 5,000 from his wife @ 9% p.a. (interest not yet paid) and also introduced further capital of his own of ₹ 1,500. He drew @ ₹ 300 per month at the end of each month for household expenses. On 31st March 2023 his position was as follows:
Cash in Hand ₹ 2,800; Sundry Debtors ₹ 6,400; Stock ₹ 6,800; Sundry Creditors ₹ 500 and owing for Rent ₹ 150.
Furniture and Fixtures to be depreciated by 10%.
Ascertain the profit earned or loss incurred by Mahesh during the year ended 31st March 2023.
[Capital at the end – ₹ 11,925; Profit – ₹ 4,025.]
Solution:-
Following is the list
| S.N | Questions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
| S.N | Questions |
| 11 | Question – 11 |
| 12 | Question – 12 |
| 13 | Question – 13 |
| 14 | Question – 14 |
| 15 | Question – 15 |
| 16 | Question – 16 |
| 17 | Question – 17 |
