[CBSE] Q 13 Accounts for Incomplete Records Solutions (2023-24)

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Solution of Question number 13 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)

From the following information relating to the business of Abhay who keeps books on Single Entry System, ascertain the profit or loss for the year 2022-23:

1st April,
2022 (₹)
31st March,
2023 (₹)
Machinery8,0008,000
Furniture2,0002,000
Stock7,0005,000
Sundry Debtors4,0004,500
Bank Balance200 (Cr.)1,800 (Dr.)
Sundry Creditors5,0003,500

Abhay withdrew ₹ 4,100 during the year to meet his household expenses. He introduced ₹ 300 as fresh capital on 15th January 2023. Machinery and Furniture are to be depreciated at 10% and 5% p.a. respectively.

[Profit – ₹ 4,900.]

Solution:-

Following is the list

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Anurag Pathak
Anurag Pathak

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