[CBSE] Q 7 Accounts for Incomplete Records Solutions (2023-24)

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Solution of Question number 7 Accounts for Incomplete Records (Single Entry System) CBSE Board (2023-24)

Krishan started his business on 1st April, 2022 with a Capital of ₹ 1,00,000. On 31st March, 2023, his assets were:

Cash3,200
Stock34,800
Debtors31,000
Plant85,000

He owed ₹ 12,000 to sundry creditors and ₹ 10,000 to his brother on that date. He withdrew ₹ 2,000 per month for his personal expenses. Ascertain his profit.

[Profit earned – ₹ 56,000.]

Solution:-

Following is the list

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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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