Double Entry Book Keeping Ts Grewal 2016 Solutions for Class 11 Commerce Accountancy Chapter 19 Accounts From Incomplete Records Single Entry System are provided here with simple step-by-step explanations. These solutions for Accounts From Incomplete Records Single Entry System are extremely popular among class 11 Commerce students for Accountancy Accounts From Incomplete Records Single Entry System Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Double Entry Book Keeping Ts Grewal 2016 Book of class 11 Commerce Accountancy Chapter 19 are provided here for you for free. You will also love the ad-free experience on Meritnationâ€™s Double Entry Book Keeping Ts Grewal 2016 Solutions. All Double Entry Book Keeping Ts Grewal 2016 Solutions for class 11 Commerce Accountancy are prepared by experts and are 100% accurate.

#### Page No 19.17:

 Statement of Profit or Loss Particulars Amount (Rs) Capital at the end 90,000 Add: Drawings 5,000 95,000 Less: Additional Capital Introduced (10,000) Adjusted Capital at the end 85,000 Less: Capital in the beginning 60,000 Net Profit for the year 25,000

#### Page No 19.17:

 Statement of Profit or Loss Particulars Amount (Rs) Capital at the end 1,25,000 Add: Drawings 30,000 1,55,000 Less: Additional Capital Introduce (37,500) Adjusted Capital at the end 1,17,500 Less: Capital in the beginning 1,00,000 Net Profit for the year 17,500

#### Page No 19.17:

 Capital at the end = Opening Capital + Additional Capital + Profit − Drawings = 70,000 + 20,000 + 20,000 − 7,000 = Rs 1,03,000

#### Page No 19.17:

 Additional Capital = Capital at the End + Drawings − (Capital in the Beginning + Profit) = 2,00,000 + 50,000 − (1,30,000 + 1,00,000) = 2,50,000 − 2,30,000 = Rs 20,000

#### Page No 19.18:

 Statement of Profit or Loss Particulars Amount (Rs) Capital as on March 31, 2013 16,900 Add: Drawings 4,800 21,700 Less: Addition Capital Introduced (2,000) Adjusted Capital as on March 31, 2013 19,700 Less: Capital as on April 01, 2012 (15,200) Profit made during the year 2012-13 4,500

#### Page No 19.18:

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 1,200 Cash 320 Brother’s Loan 1,000 Stock 3,480 Capital (Balancing Figure) 13,200 Debtors 3,100 Plant 8,500 15,400 15,400

 Statement of Profit or Loss for the year end March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 13,200 Add: Drawings (Rs 200 × 12) 2,400 15,600 Less: Capital as on April 01, 2012 (10,000) Profit made during the year 2012-2013 5,600

#### Page No 19.18:

 Books of Ram Prashad Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Trade Creditors 4,000 Book Debts 10,000 Bank Overdraft 1,000 Cash in Hand 510 Capital (Balancing Figure) 12,590 Stock 6,000 Furniture and Fittings 1,200 Less: 10% Depreciation 120 1,080 17,590 17,590

 Statement of Affairs as on April 01, 2012 Liabilities Amount (Rs) Assets Amount (Rs) Capital (Balancing Figure) 10,000 Bank 6,000 Stock 4,000 10,000 10,000

 Statement of Profit or Loss for the year and March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 12,590 Add: Drawings 2,400 14,990 Less: Capital as on April 01, 2012 (10,000) Profit made during the year 2012-13 4,990

#### Page No 19.18:

 Statement of Profit and Loss for the year and March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 18,700 Add: Drawings 8,420 27,120 Less: Additional Capital Introduced (2,000 + 2,000 × 2%) (2,040) Adjusted Capital as on March 31, 2013 25,080 Less: Capital as on April 01, 2012 (19,200) Profit made during the year 2012-13 5,880

#### Page No 19.18:

 Statement of Affairs for the year and March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 9,600 Furniture 5,000 Capital (Balancing Figure) 22,800 Stock 17,000 Sundry Debtors 7,400 Cash at Bank 2,400 Cash in Hand 600 32,400 32,400

 Statement of Profit and Loss for the year end March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 22,800 Add: Drawings 7,600 30,400 Less: Additional Capital Introduced (4,000) Adjusted Capital as on March 31, 2013 26,400 Less: Capital as on April 01, 2012 (20,000) Profit made during the year 2012-13 6,400

#### Page No 19.18:

 Statements of Affairs as on April 01, 2012 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 1,750 Furniture 200 Capital (Balancing Figure) 3,500 Stock 2,800 Sundry Debtors 2,100 Cash 150 5,250 5,250

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 1,900 Furniture 200 Loan 500 Less: 10% Depreciation (20) 180 Capital (Balancing Figure) 5,390 Stock 3,050 Sundry Debtors 3,400 Less: 10% Reserve for Doubtful Debts (340) 3,060 Cash 200 Bills Receivables 300 Investments 1,000 7,790 7,790

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 5,390 Add: Drawings 500 5,890 Less: Capital as on April 01, 2012 (3,500) Profit made during the year 2012-13 2,390

#### Page No 19.19:

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Wife’s Loan 5,000 Furniture and Fixture 2,000 Add: Outstanding Interest Less: 10% Depreciation (200) 1,800 (5,000 × 9% × 6/12) 225 5,225 Cash in Hand 2,800 Sundry Creditors 500 Sundry Debtors 4,800 Rent Outstanding 150 Stock 6,800 Capital (Balancing Figure) 11,925 Bills Receivable 1,600 17,800 17,800

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 11,925 Add: Drawings (Rs 1,200 × 3) 3,600 15,525 Less: Additional Capital Introduce (1,500) Adjusted Capital as on March 31, 2013 14,025 Less: Capital as on April 01, 2012 (10,000) Profit made during the year 2012-13 4,025

#### Page No 19.19:

 Statement of Affairs as on April 01, 2012 Liabilities Amount (Rs) Assets Amount (Rs) Creditors 350 Cash in Hand 150 Capital (Balancing Figure) 1,400 Bank Balance 750 Furniture 100 Stock 500 Debtors 250 1,750 1,750

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Creditors 400 Cash in Hand 175 Capital (Balancing Figure) 1,625 Bank Balance 800 Furniture 100 Stock 650 Debtors 300 2,025 2,025

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 1,625 Add: Drawings 500 2,125 Less: Additional Capital Introduced (250) Adjusted Capital as on March 31, 2013 1,875 Less: Capital as on April 01, 2012 (1,400) Profit made during the year 2012-13 475

#### Page No 19.19:

 Statement of Affairs as on April 01, 2012 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 2,000 Cash 600 Bills Payable 1,500 Sundry Debtors 6,800 Stock 5,900 Capital (Balancing Figure) 11,300 Furniture 1,500 14,800 14,800

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 1,800 Cash 700 Bills Payable 1,100 Stock 8,700 9% Loan from Friend 2,000 Furniture 1,350 Add: Interest Outstanding (2,000 × 9% × 6/12) 90 2,090 Capital (Balancing Figure) 11,840 Sundry Debtors 6,400 Less: 5% Provision for Doubtful Debts (320) 6,080 16,830 16,830

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 11,840 Add: Drawings (Rs 250 × 12) 3,000 14,840 Less: Capital as on April 01, 2012 (11,300) Profit made during the year 2012-13 3,540

#### Page No 19.19:

 Statement of Profit or Loss for the year ended December 31, 2003 Particulars Amount (Rs) Capital as on December 31, 2003 18,700 Add: Drawings (WN) 8,420 27,120 Less: Additional Capital Introduce (2,000 + 2,000 × 2%) (2,040) Adjusted Capital as on December 31, 2003 25,080 Less: Capital as on January 01, 2003 (19,200) Profit made during the year 2003 5,880

Working Note:

Calculation of Drawings made during the year

 Particulars Amount (Rs) Loan provided to Brother 3,500 Monthly Drawings (Rs 300 × 12) 3,600 House Rent (Rs 100 × 12) 1,200 Monthly Electricity Charges (Rs 10× 12) 120 Total Drawings 8,420

#### Page No 19.20:

 Statement of Affairs for the year ending March 31, 2006 Liabilities Amount Rs Assets Amount Rs Creditors 3,00,000 Cash 30,000 Loan from Friend 1,00,000 Stock 4,70,000 Debtors 3,50,000 Capital 4,50,000 (Balancing Figure) 8,50,000 8,50,000

 Statement of Profit and Loss for the year ending March 31, 2006 Particulars Amount Rs Capital as on March 31, 2006 4,50,000 Add: Drawings (8,000 × 6) 48,000 4,98,000 Less: Additional Capital Introduced (75,000) Adjusted Capital as on March 31, 2006 4,23,000 Less: Capital as on Oct.01, 2005 (4,00,000) Profit made during the year 2005-06 23,000

Note: Profit for the period as per the book is Rs 71,000. However as per our calculation profit for the period is Rs 23,000.

#### Page No 19.20:

 Statement of Affairs as on April 01, 2012 Liabilities Amount (Rs) Assets Amount (Rs) Bank Overdraft 200 Machinery 8,000 Sundry Creditors 5,000 Furniture 2,000 Capital (Balancing Figure) 15,800 Stock 7,000 Sundry Debtors 4,000 21,000 21,000

 Statement of Affairs as on March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Sundry Creditors 3,500 Machinery 8,000 Capital (Balancing Figure) 16,900 Less: 10% Depreciation (800) 7,200 Furniture 2,000 Less: 5% Depreciation (100) 1,900 Stock 5,000 Sundry Debtors 4,500 Bank Balance 1,800 20,400 20,400

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 16,900 Add: Drawings 4,100 21,000 Less: Additional Capital Introduced (300) Adjusted Capital as on March 31, 2013 20,700 Less: Capital as on April 01, 2012 (15,800) Profit made during the year 2012-13 4,900

#### Page No 19.20:

 Statement of Affairs (Previous Year) Liabilities Amount (Rs) Assets Amount (Rs) Trade Creditors 6,270 Stock 12,350 Loan from Naresh 5,000 Cash in Hand 570 Capital (Balancing Figure) 18,170 Shop Fittings 7,250 Trade Debtors 5,280 Bank Balance 3,990 29,440 29,440

 Statement of Affairs (Current Year) Liabilities Amount (Rs) Assets Amount (Rs) Trade Creditors 5,890 Stock 11,980 Loan from Naresh 5,000 Cash in Hand 650 Add: Outstanding Interest (5,000 × 5%) 250 5,250 Shop Fittings 7,800 Capital (Balancing Figure) 16,930 Less: Depreciation (780) 7,020 Trade Debtors 4,560 Less: Bad Debts (270) 4,290 Bank Balance 4,130 28,070 28,070

 Statement of Profit or Loss (Current Year) Particulars Amount (Rs) Capital of the Current Year 16,930 Add: Drawings (Rs 100 × 52) 5,200 22,130 Less: Capital of the Previous Year (18,170) Profit made during the Current Year 3,960

#### Page No 19.20:

 Statement of Affairs for the year ended March 31, 2013 Liabilities Amount (Rs) Assets Amount (Rs) Creditors 30,000 Bank 10,000 Bills Payable 10,000 Debtors 50,000 Capital (Balancing Figure) 1,30,700 Less: 5% Provision for Doubtful Debts (2,500) 47,500 Stock 40,000 Plant 68,000 Less: 10% Depreciation (6,800) 61,200 Furniture 12,000 1,70,700 1,70,700

 Statement of Profit or Loss for the year ended March 31, 2013 Particulars Amount (Rs) Capital as on March 31, 2013 1,30,700 Add: Drawings 24,000 1,54,700 Less: Additional Capital Introduced (30,000) Adjusted Capital as on March 31, 2013 1,24,700 Less: Capital as on April 01, 2012 (40,000) Profit made during the year 2012-13 84,700

View NCERT Solutions for all chapters of Class 13