[DK Goel] Q. 10 Accounts from Incomplete Records Solutions Class 11 CBSE (2025-26)

Solutions of Question number 10 of Chapter 22 Accounts from Incomplete Records DK Goel class 11 CBSE (2025-26)

The Capital of Sh. Madhusudan on 1st April, 2022 was ₹ 5,00,000 and on 31st March, 2023 was ₹ 4,80,000. He has informed you that he withdrew from the business ₹ 8,000 per month for his private use. He paid ₹ 20,000 for his income-tax and the instalment of the loan of his personal house at the rate of ₹ 15,000 per month from the business. He had also sold his shares of Reliance Company costing ₹ 1,00,000 at a profit of 20% and invested half of this amount in the business. Calculate the profit or loss of the business.

[Ans. Profit ₹ 2,16,000.]

Solution:-