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Question No 02 Chapter No 19 – T.S. Grewal 11 Class

Question No 02 Chapter No 19
Question No.02 - Chapter No.19- T.S. Grewal +1 Book 2019-Solution

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Question No 02 Chapter No 19

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2. Mayank does not keep proper records of his business, he gives you the following information:

  
Opening Capital1,00,000
Closing Capital1,25,000
Drawings during the year30,000
Capital added during the year37,500

Calculate the profit or loss for the year.

 

The solution of Question No 02 Chapter No 19:-

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Statement of Profit or Loss
Particular
Amount
Capital at the end 1,25,000
Add: Drawings 30,000
  1,55,000
Less: Additional Capital Introduced
 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

 

 

Final Accounts: Meaning, Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

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Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication

T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

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