[ISC] Q 14 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)

Solution to Question number 14 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?

Angad keeps his books on Single Entry System, He gives the following information:

	1st April, 2021 (₹)	31st March, 2022 (₹)
Stock in Hand Debtors Creditors Bills Receivable Bills Payable Furniture Building Bank Balance	18,700 12,000 9,000 4,000 1,000 600 12,000 4,350	23,400 14,000 1,500 5,000 200 600 12,000 3,350 (Cr.)

You are also given the following information:

(a) A provision of ₹ 1,450 is required for doubtful debts.

(b) Depreciation @ 5% is to be written off on building and furniture.

(c) Wages outstanding ₹ 3,000, salaries outstanding ₹ 1,200.

(d) Prepaid insurance has been provided to the extent of ₹ 250.

(e) Legal expenses outstanding ₹ 700.

(f) Drawings of Angad during the year were ₹ 7,520.

You are required to find out the profit/loss for the year ended 31st March,

Solution:-

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