[ISC] Q 11 Solution Accounts from Incomplete Records TS Grewal Class 11 (2022-23)

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Solution of Question number 11 Accounts from Incomplete Records TS Grewal class 11 ISC 2022-23?

From the following information relating to the business of Yug, who keeps books on Single Entry System, ascertain the profit or loss for the year ended 31st March, 2022:

1st Apri, 2021 (₹)31st March, 2022 (₹)
Macinery
Furniture
Stock
Sundry Debtors
Bank Balance
Sundry Creditors
8,000
2,000
7,000
4,000
200 (Cr.)
5,000
8,000
2,000
5,000
4,500
1,800 (Dr.)
3,500

Yug withdrew ₹ 4,100 during the year to meet his household expenses. He introduced ₹ 300 as fresh capital on 15th January 2022. Machinery and Furniture are to be depreciated at 10% and 5% p.a. respectively.

Solution:-

Working Notes:-

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