[CBSE] Q 14 Accounts for Incomplete Records Solutions (2023-24)

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Solution of Question number 14 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)

Following information is supplied to you by a shopkeeper:

1st April,
2022 (₹)
31st March,
2023 (₹)
Cash6,0007,000
Sundry Debtors68,00064,000
Stock59,00087,000
Furniture15,00013,500
Sundry Creditors35,00029,000

During the year, he withdrew ₹ 2,500 per month for domestic purposes. He also borrowed frofm a friend at 9% a sum of ₹ 20,000 on 1st October, 2022. He has not yet paid the interest. A provision of 5% on debtors for doubtful debts is to be made.

Ascertain the profit or loss made by him during the period.

[Profit earned during the year – ₹ 35,400.]

Solution:-

Following is the list

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1Question – 1
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6Question – 6
7Question – 7
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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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