[DK Goel] Q. 4 Accounts from Incomplete Records Solutions Class 11 CBSE (2025-26)
Solutions of Question number 4 of Chapter 22 Accounts from Incomplete Records DK Goel class 11 CBSE (2025-26)
Tulsi started business on 1st April, 2024 with a capital of ₹ 4,50,000. On 31st March, 2025 her position was as under:
| ₹ | |
| Cash | 99,000 |
| Bills Receivable | 75,000 |
| Stock | 48,000 |
| Land and Building | 1,80,000 |
| Furniture | 50,000 |
She owed ₹ 45,000 to her friend Parvati on that date. She withdrew ₹ 8,000 per month for household purposes. Ascertain her profit or loss for the year ended 31st March, 2025.
[Ans. Closing Capital ₹ 4,07,000; Profit ₹ 53,000]
Solution:
Hint: ₹ 45,000 will be shown on liabilities side as loan from Parvati.
