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Accounts from Incomplete Records

At Saralstudy, we are providing you with the solution of Class 11th accountancy Accounts from Incomplete Records according to the latest NCERT (CBSE) Book guidelines prepared by expert teachers. Here we are trying to give you a detailed answer to the questions of the entire topic of this chapter so that you can get more marks in your examinations by preparing the answers based on this lesson. We are trying our best to give you detailed answers to all the questions of all the topics of Class 11th accountancy Accounts from Incomplete Records so that you can prepare for the exam according to your own pace and your speed.

Accounts from incomplete records, is a system of bookkeeping in which accounting records are not kept according to the double entry principle of bookkeeping; it is called a single entry system. It is a simple method suitable for small businesses and there is no need for the knowledge of principles of book keeping etc. The difference between the opening capital and closing capital profit earned during the year. The difference between opening capital and closing capital is the profit earned during the year.

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Exercise 1

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