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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 1 Chapter No 17 – Class 11 Unimax
Anurag Keeps incomplete records of his business. He gives you the following information for the year ended 31st March,2020:
| ₹ | |
|---|---|
| Capital at the beginning of the year | 8,00,000 |
| Capital at the end of the year | 7,00,000 |
| Drawings made during the year | 3,50,000 |
| Additional capital introduced during the year | 40,000 |
You are required to calculate profit and loss made during the year
Statement of Profit & Loss
For the year ending 31st March,2020
| ₹ | |
|---|---|
| Capital at the end | 7,00,000 |
| Add: Drawings | 3,50,000 |
| 10,50,000 | |
| Less: Additional capital introduced | 40,000 |
| 10,10,000 | |
| Less: capital at the beginning | 8,00,000 |
| Profit made during the year | 2,10,000 |
Economics Educator
Mrs. Dilgeerjot Kaur holds a B.Com and M.Com degree and has over 9 years of teaching experience in microeconomics, macroeconomics, and business economics.
This guide covers "Question 1 Chapter No 17 – Class 11 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 17 - Accounts from Incomplete Records - Single Entry System - Unimax.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 1 Chapter No 17 – Class 11 Unimax" instantly.
