Question 4 Chapter No 17 – Class 11 Unimax 

Question 4 Chapter No 17 – Class 11 Unimax 


Question 4 Chapter No 17 – Class 11 Unimax 

Neetu started business with a capital of ₹ 8,00,000 on 1st April 2019. She borrowed from bank sum of ₹ 3,00,000 per annum (interest not yet paid) for business and brought a further amount of ₹ 2,00,000 as capital.

On 31st March 2020 her position was:

Cash in hand70,000
Bank balance2,00,000

She withdrew ₹ 3,000 per months during period. Calculate profit & loss for the period.

The solution of Question 4 Chapter No 17 – Class 11 Unimax 

Statement of Affairs
As at 31st March 2020

Creditors  1,00,000Cash in hand 70,000
Bank loan3,00,000 Bank balance2,00,000
Interest outstanding30,0003,30,000Stock9,00,000
Capital (Balance figure) 12,40,000Debtors5,00,000
  16,70,000 16,70,000

Statement of Profit & Loss

Closing Capital at the end of the year 31st March 202012,40,000
Add: Drawings (3,000 x12)36,000
Less: Further capital introduced2,00,000
Less: opening capital as on 1st April 20198,00,000
Profit made during the year2,76,000


End of Solution

Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter 17 – Accounts from Incomplete Records – Single Entry System Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.



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