[CBSE] Q 15, Q 16 Accounts for Incomplete Records Solutions (2025-26)
Solution of Question number 15 and 16 Accounts for Incomplete Records (Single Entry System) CBSE Board (2025-26)
Q. 15. Vikas is keeping his accounts according to Single Entry System. His capital on 31st March, 2022 was ₹ 2,50,000 and his capital on 31st March, 2023 was ₹ 4,25,000.
He further informs you that during the year he gave a loan of ₹ 30,000 to his brother on private account and withdrew ₹ 1,000 per month for personal purposes. He used a flat for his personal purpose, the rent of which @ ₹ 1,800 per month and electricity charges at an average of 10% of rent per month were paid from the business account. During the year, he sold his 7% Government Bonds of ₹ 50,000 at 1% premium and brought that money into the business.
Prepare a Statement of Profit or Loss for the year ended 31st March, 2023.
[Profit – ₹ 1,90,260.]
Solution:-
Q. 16. Kavish, a retailer, has not maintained proper books of account but it has been possible to obtain the following details:
| Last Year (₹) | This Year (₹) | |
| Trade Creditors | 6,270 | 5,890 |
| Loan from Naresh | 5,000 | 5,000 |
| Stock | 12,350 | 11,980 |
| Cash in Hand | 570 | 650 |
| Shop Fittings | 7,250 | 7,800 |
| Trade Debtors | 5,280 | 4,560 |
| Bank Balance | 3,990 | 4,130 |
Calculate the net profit for this year and draft the Statement of Affairs at the end of the year after noting that:
(a) Shop Fittings are to be depreciated by ₹ 780.
(b) Gurman has drawn ₹ 100 per week for his own use.
(c) Included in the Trade Debtors is an irrecoverable balance of ₹ 270.
(d) Interest at 5% p.a. is due on the loan from Naresh but has not been paid for the year.
[Net Profit – ₹ 3,960; Total of Statement of Affairs – ₹ 28,070.]
Solution:-
Following is the list
