Question 8 Chapter No 17 – Class 11 Unimax

Question 8 Chapter No 17 – Class 11 Unimax


Question 8 Chapter No 17 – Class 11 Unimax

Kavita maintains incomplete records of her business. She wants to know the result of her business on 31st March 2020 and for that, following information’s are available:

Cash in hand2,00,0003,00,000
Bank balance9,00,00010,00,000

Personal expenses of Kavita paid from business account amounted to ₹ 6,00,000 and goods worth ₹ 40,000 were withdrawn by her for personal use. She sold ornament of her sister for ₹ 6,00,000 and invested that amount into the business. Calculate his profit or Loss.

The solution of Question 8 Chapter No 17 – Class 11 Unimax

Statement of Affairs
As at 1 April, 2019

Creditors 3,00,000Cash in hand2,00,000
Capital (Balance figure)19,00,000Bank balance9,00,000
 22,00,000 22,00,000

Statement of Affairs
As at 31st March 2020

Creditors 5,50,000Cash in hand3,00,000
Capital (Balance figure)20,00,000Bank balance10,00,000
 25,50,000 25,50,000

Statement of Profit & Loss
For the year ended 31st March, 2020

Closing Capital as on 31st March,2020 20,00,000
Add: Drawings: In cash 6,00,0006,40,000
In goods40,00026,40,000
Less: Further capital introduced 6,00,000
Less: opening capital as on 1st April, 2019 19,00,000
Loss for the year 1,40,000


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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