[ISC] Q 10 Solution Accounts from Incomplete Records TS Grewal Class 11 (2022-23)
Solution of Question number 10Accounts from Incomplete Records TS Grewal class 11 ISC 2022-23?
Following information is supplied to you by a shopkeeper:
| 1st April, 2021 (₹) | 31st March, 2022 (₹) | |
| Cash Sundry Debtors Stock Furniture Sundry Creditors Bills Payable | 600 6,800 5,900 1,500 2,000 1,500 | 700 6,400 8,700 1,300 1,800 1,100 |
During the year, the shopkeeper withdrew ₹ 250 per month for domestic purposes. He also borrowed from a friend at 9% p.a. a sum of ₹ 2,000 on 1st October, 2021. He has not yet paid the interest. A provision of 5% on debtors for doubtful debts is to be made.
Ascertain the profit or loss made by him during the period.
Solution:-
Working Notes:-
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