[ISC] Q 5 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)
Solution to Question number 5 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?
Prashad keeps his books on Single Entry System, and from them and the particulars, supplied, the following figures were gathered on 31st March, 2023:
Book Debts ₹ 10,000; Cash in Hand ₹ 510; Stock-in-Trade (Estimated) ₹ 6,000; Furniture and Fittings ₹ 1,200; Trade Creditors ₹ 4,000; Bank Overdraft ₹ 1,000.
Prashad started business on 1st April, 2022 with Cash ₹ 6,000 paid into bank but stocks valued at ₹ 4,000.
During the year, he estimated his drawings to be ₹ 2,400. You are required to prepare the statement, showing profit/loss for the year, after writing off 10% for depreciation on furniture and fittings.
![](https://commerceschool.in/wp-content/uploads/2023/10/q5-12-1024x242.webp)
Solution:-
![](https://commerceschool.in/wp-content/uploads/2023/10/1-187-1024x334.webp)
Working Capital:-
![](https://commerceschool.in/wp-content/uploads/2023/10/2-78-1024x402.webp)
![](https://commerceschool.in/wp-content/uploads/2023/10/3-29-1024x375.webp)
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