[ISC] Q 7 Accounts from Incomplete Records TS Grewal Solution Class 11 (2023-24)
Solution to Question number 7 Accounts from Incomplete Records TS Grewal class 11 ISC 2023-24?
Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that the following information is available:
1st April, 2021 (₹) | 31st March, 2022 (₹) | |
Cash in Hand Bank Balance Furniutre Stock Creditors Debtors | 150 750 100 500 350 250 | 175 800 100 650 400 300 |
During the year, he had withdrawn ₹ 500 for his personal use and invested ₹ 250 as additional capital. Calculate his profit on 31st March, 2023 and prepare the statement of Affairs as on that date.
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Solution:-
![](https://commerceschool.in/wp-content/uploads/2023/10/1-189-1024x411.webp)
Working Notes:-
![](https://commerceschool.in/wp-content/uploads/2023/10/2-80-1024x426.webp)
![](https://commerceschool.in/wp-content/uploads/2023/10/3-31-1024x431.webp)
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