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प्रश्न
Answer in one sentence only.
How Opening Capital is calculated under Single Entry System?
उत्तर
In a statement of affairs, when the total of the assets side is greater than the total of liabilities side, then difference of amount is known as ‘Opening Capital’.
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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 statement is prepared under the Single Entry system to ascertain the capital balances?
Answer in one sentence only.
Which type of accounts are maintained 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.
A System of accounting which is unscientific.
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?
Real and Nominal accounts are not maintained under Single Entry System.
Do you agree with the following statement?
Single Entry System is based on certain rules and principles
Do you agree with the following statement?
Statement of Profit is just like Profit and Loss Account.
Fill in the blank:
Single Entity System is suitable for ________business.
Under Single Entry System, Profit = Closing Capital Less ______.
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.
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 ______.
Under Single Entry System, Profit = Closing Capital Less ______.
