NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Accountancy Class 11

Commerce : NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

The document NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev is a part of the Commerce Course Accountancy Class 11.
All you need of Commerce at this link: Commerce

Page Number : 481

Numerical Questions :

Question.14 : M/s Saniya Sports Equipment does not keep proper records.From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of 5% is to be made on debtors outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ 10% p.a.

Answers :
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Note: As per the solution, the profit earned during the year is Rs 1, 71, 400; while, according to the book, the answer is Rs 1, 41,200.

Question.15 : From the following information calculate the amount to be paid to creditors:
 NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Answers :NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Question.16 : Find out the credit purchases from the following:

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Answers :
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Credit Purchases Rs 2,56,350

Page Number : 482

Numerical Questions :

Question.17 : From the following information calculate total purchases.
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Answers : NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Total Purchases = Cash Purchases + Credit Purchases (as per Creditors Account)
= 1,29,000 + 2,01,500
= Rs 3,30,500

Question.18 : The following information is given
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev 

Calculate credit purchases during the year 
Answer :

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Note: In order to match the answer with NCERT book, in the solution bills payable matured has been assumed as bills payable accepted. 

Question.19 : From the following, calculate the amount of bills accepted during the year. Rs
Bills payable as on April 01, 2005 1,80,000
Bills payable as on March 31, 2006 2,20,000
Bills payable dishonoured during the year 28,000
Bills payable honoured during the year 50,000 

Answer :NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev
Question.20 : Find out the amount of bills matured during the year on the basis of information given below:
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev
Answer :

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Bill Payable matured during the year is Rs 38,000.
Question.21 : Prepare the bills payable account from the following and find out missing figure if any :
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev 
Answer :

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Bills payable discharged is Rs 88,000 and the opening balance of creditors is Rs 79,000.


Page Number : 483

Numerical Questions :
Question.22 : 

NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev

Answer :
NCERT Solution (Part - 3) - Accounts from Incomplete Records Commerce Notes | EduRev
Bills receivable received from Debtors Rs 1,60,000.

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