[CBSE] Q 12 Accounts for Incomplete Records Solutions (2023-24)
Solution of Question number 12 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)
Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that following information available:
| 1st April, 2022 (₹) | 31st March, 2023 (₹) | |
| Cash in Hand | 1,50,000 | 1,75,000 |
| Bank Balance | 7,50,000 | 8,00,000 |
| Furniture | 1,00,000 | 1,00,000 |
| Stock | 5,00,000 | 6,50,000 |
| Creditors | 3,50,000 | 4,00,000 |
| Debtors | 2,50,000 | 3,00,000 |
During the year, he had withdrawn ₹ 5,00,000 for his personal use and invested ₹ 2,50,000 as additional capital. Calculate his profits on 31st March 2023 and prepare the Statement of Affairs as on that date.
[Profit – ₹ 4,75,000.]
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 |
