[CBSE] Q 6 Accounts for Incomplete Records Solutions (2023-24)

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Solution of Question number 6 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)

Gurman who keeps his books on Single Entry System sells goods at cost plus 50%. On 1st April, 2022 his Capital was ₹ 4,00,000 and on 31st March, 2023 it was ₹ 3,50,000. He had withdrawn ₹ 20,000 per month besides goods of the sale value of ₹ 60,000. How much did he earn in 2022-23?

[Profit – ₹ 2,30,000.]

[Hint: Drawings = ₹ 2,40,000 (Cash + ₹ 40,000 (Cost of goods taken) = ₹ 2,80,000.]

Solution:-

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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 and can download the Android & ios app for free lectures.

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