[ISC] Q 12 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)

Solution to Question number 12 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?

X, a retailer, has not kept proper books of account but it has been possible to obtain the following details:

	Previous Year (₹)	Current Year (₹)
Trade Creditors Loan from Naresh Stock Cash in Hand Shop Fittings Trade Debtors Bank Balance	6,270 5,000 12,350 570 7,250 5,280 3,990	5,890 5,000 11,980 650 7,800 4,560 4,130

Calculate profit/loss for the current year and draft statement of Affairs at the end of the year after noting that:

(a) Shop Fittings are to be depreciated by ₹ 780.

(b) X has drawn ₹ 100 per week for his own use.

(c) Included in the Trade Debtors is an irrecoverable balance of ₹ 270.

(d) Interest at 5% p.a. is due on the loan from Naresh, but has not been paid for the year.

Solution:-

Working Notes:-

Below is the list of all the Practical problems

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14