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11th | Accounting Procedures Rules Of Debit And Credit | Question No. 13 And 14 | Ts Grewal Solution 2022-2023

Question 13:


From the following particulars, prepare the proprietor's Capital Account:
 

 

`

1st April, 2020 − Commenced business with cash

2,00,000

31st March, 2021 − Net Loss as per Profit and Loss Account

18,000

31st March, 2021 − Drawings during the period

15,000


Balance the same and explain what the closing balance indicates.

Answer:


Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`.)

Date

Particulars

J.F.

 (`.)

2021

 

 

 

2020

 

 

 

March 31

Profit and Loss A/c (Net Loss)

 

18,000

April 01

Cash

 

2,00,000

March 31

Drawings

 

15,000

 

 

 

 

March 31

Balance c/d

 

1,67,000

 

 

 

 

 

 

 

2,00,000

 

 

 

2,00,000

 

 

 

 

 

 

 

 


 

Question 14:


From the following particulars, prepare the proprietor's Capital Account:

2013

 

`

April 1

Started business with

45,000

May 10 

Withdrew from business for personal use

10,000

July 15

Further Capital introduced

55,000

Nov. 30

Income tax paid

5,000

 2014

 

 

Mar. 31

Profit for the year

30,000

Answer:


Proprietor’s Capital Account

Dr.

Cr.

Date

Particulars

 (`)

Date

Particulars

 (`)

2013

 

 

2013

 

 

Mar.10

Drawings A/c

10,000

Apr.01

Cash A/c

45,000

Nov.30

Drawings A/c ( Income Tax)

5,000

July 15

Cash A/c

55,000

2014

 

 

2014

 

 

Mar.31

Balance c/d

1,15,000

Mar.31

Profit and Loss A/c

30,000

 

 

 

 

 

 

 

 

1,30,000

 

 

1,30,000

 

 

 

 

 

 

 

Click below for more Questions

Ts Grewal Solution 2022-2023

Class 11th

Chapter 6 – Accounting Procedures- Rules of Debit and Credit

Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 And 14

 

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11th TS Grewal’s Accountancy Solutions

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