Accounts from Incomplete Records — Important Questions
ICSE · Class 11 · Accountancy
55 important questions from Accounts from Incomplete Records for ICSE Class 11 Accountancy, with answers. Part of the ICSE Class 11 Accountancy syllabus.
Interactive on Super Tutor
Studying Accounts from Incomplete Records? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for important questions and more.
Free trial, no card needed.
Important Questions from Accounts from Incomplete Records
Accounts from incomplete records: Opening capital is ₹2,50,000. Profit for the year is ₹80,000. Drawings during the year are ₹30,000 and no additional capital was introduced. What is the closing capital?
Show answer
₹3,00,000
Profit = Closing capital + Drawings - Additional capital - Opening capital. So ₹80,000 = Closing capital + ₹30,000 - ₹2,50,000. Therefore Closing capital = ₹3,00,000.
Accounts from incomplete records: A proprietor has closing capital ₹1,05,000, opening capital ₹80,000, and drawings ₹12,000. Additional capital introduced was ₹20,000. What is the profit for the year?
Show answer
₹17,000
Adjusted closing capital = ₹1,05,000 + ₹12,000 - ₹20,000 = ₹97,000. Profit = ₹97,000 - ₹80,000 = ₹17,000.
Accounts from incomplete records: On 1 April 2013, capital was ₹8,000. On 31 March 2014, capital was ₹10,000. During the year, drawings were ₹1,000 and additional capital introduced was ₹2,000. What was the profit for the year?
Show answer
₹1,000
Profit = Closing capital + Drawings - Additional capital - Opening capital = ₹10,000 + ₹1,000 - ₹2,000 - ₹8,000 = ₹1,000.
Accounts from incomplete records: A trader has opening capital ₹90,000, closing capital ₹1,38,000, drawings ₹17,000, and profit ₹25,000. What is the additional capital introduced?
Show answer
₹6,000
Profit = Closing capital + Drawings - Additional capital - Opening capital. So ₹25,000 = ₹1,38,000 + ₹17,000 - Additional capital - ₹90,000. Therefore Additional capital = ₹6,000.
+51 more questions on Accounts from Incomplete Records (ICSE Class 11 Accountancy)
Practise AllFrequently Asked Questions
What are the important topics in Accounts from Incomplete Records for ICSE Class 11 Accountancy?
How many important questions are there in Accounts from Incomplete Records?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Accounts from Incomplete Records
For serious students
Get the full Accounts from Incomplete Records chapter — start free.
Quizzes, flashcards, an AI doubt solver and a study plan for ICSE Class 11 Accountancy. Free to start, no card needed.