Solution of Q 11 Accounts from Incomplete Records-Single Entry System TS Grewal Class 11 (2023-24) CBSE
Step-by-step solution of Question 11, Chapter 20 Accounts from Incomplete Records – Single Entry System, TS Grewal Class 11 Accountancy 2023-24 for the CBSE Board.
Question 11
Mahesh commenced business on 1st April, 2022 with a capital of ₹ 10,000. He immediately bought Furniture and Fixtures for ₹ 2,000. On 1st October, 2022, he borrowed ₹ 5,000 from his wife @ 9% p.a. (interest not yet paid) and also introduced further capital of his own of ₹ 1,500. He drew @ ₹ 300 per month at the end of each month for household expenses. On 31st March, 2023 his position was as follows: Cash in Hand ₹ 2,800; Sundry Debtors ₹ 6,400; Stock ₹ 6,800; Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be depreciated by 10%. Ascertain the profit earned or loss incurred by Mahesh during the year ended 31st March, 2023.
Solution
All questions of Chapter 20
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About this solution
This is Chapter 20 Accounts from Incomplete Records-Single Entry System of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
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