[DK Goel] Q. 6 Accounts from Incomplete Records Solutions Class 11 CBSE (2025-26)

Solutions of Question number 6 of Chapter 22 Accounts from Incomplete Records DK Goel class 11 CBSE (2025-26)

Suchitra started a business on 1st April, 2024 with a Capital of ₹ 50,00,000. On 31st March, 2025 her total Assets were ₹ 60,00,000 and Creditors were 3,00,000. She withdrew during the year for her personal expenses ₹ 10,000 per month upto 30th June, 2024 and thereafter ₹ 15,000 per month upto 31st March, 2025. During the year she sold her personal investments of ₹ 80,000 at 5% loss and introduced that amount in the business.

You are required to prepare a Statement of Profit or Loss for the year ending 31st March, 2025.

[Ans. Closing Capital ₹ 57,00,000; Profit ₹ 7,89,000.]

Solution:-