Which of the following is prepared to ascertain the trader’s capital under incomplete records?

Explanation

When records are incomplete, statement of affairs lists all assets and liabilities at a specific date. Capital is calculated by subtracting total liabilities from total assets. This works when proper books weren’t kept.

Income statement shows profit, not capital position. The other options aren’t standard accounting statements. Statement of affairs is specifically designed for incomplete records situations.

Formula: Assets – Liabilities = Capital. Statement of affairs uses this to find missing capital figure.