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प्रश्न
Mr. Poonawala keeps his books under the Single Entry System and gives the following information.
Capital as of 31.3.2017 – ₹ 60,000
Capital as on 31.3.2018 – ₹ 1,00,000
Drawings made during the year ₹ 2,000
Additional capital introduced during the year ₹ 12,000
Calculate Profit or Loss during the year.
उत्तर
| In the books of Mr. Poonawala | ||
| Statement of Profit or Loss for the year ended 31st March 2018 | ||
| Particulars | Amt. (₹) | Amt. (c) |
| Capital as on 31e March, 2018 | 1,00,000 | |
| Add: Drawings during the year | 2,000 | |
| 1,02,000 | ||
| Less: Additional capital introduced during the year | 12,000 | |
| Adjusted closing capital | 90,000 | |
| Less: Capital as on 31st March, 2017 | 60,000 | |
| Profit during the year | 30,000 | |
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संबंधित प्रश्न
Answer in one sentence only.
What do you mean by Single Entry System?
Answer in one sentence only.
Which types of accounts are normally not kept under the Single Entry System?
Answer in one sentence only.
How Opening Capital is calculated under Single Entry System?
Answer in one sentence only.
Can a Trial Balance be prepared under Single Entry System?
Write a word, term, or phrase which can substitute the following statement.
System of Accounting normally suitable to small business organization.
Write a word, term, or phrase which can substitute the following statement.
Name of method of accounting suitable to firms to having limited transactions.
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Single Entry System may be useful for ________.
State True or False with reasons:
Preparation of Trial Balance is not possible under Single Entry System
State True or False with reasons:
Single Entry System is not useful for large organization.
Do you agree with the following statement?
Interest on Drawings decreases the amount of profit under Single Entry System.
Do you agree with the following statement?
Statement of Profit is just like Profit and Loss Account.
Fill in the blank:
Single Entry System is more popular for __________.
Fill in the blank:
Single Entity System is suitable for ________business.
Under Single Entry System, Profit = Closing Capital Less ______.
Interest in Drawings decreases the amount of profit under the Single Entry System.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
Under Single Entry System, Profit = Closing Capital Less ______.
