Single Entry Sytem

SHREE SAMARTH CLASSES Sub:- B.K.

(Single Entry System) TIME: 1.! "rs

Q 1. Shri Shyam Sunder reported that his assets and liabilities were as under. Rs. As on Particular of Assets and liabilities 01-04-2012 !ash on hand 0"000 $alance at $an% 2&"000 Sundry 'ebtors &"000 Sundry !reditors 0"000 (achinery 40"000 )urniture 20"000 $ill Recei*able 10"000 12 + $an% ,oan &0"000 utstandin /penses &"000 Adustment3 1 'epreciate (achinery and )urniture at 10+ 10 + per annum. 2 Pro*ide Reser*e for 'oubtful debts at &+ o n sundry debtors.  (a%e pro*ision for outstandin interest on $an% loan for 5 month.

MARKS #

Rs. As on 1-0-201 2#"000 24"000 2"000 1000 40"000 20"000 12"000 &0"000 "000

$.# (r. Anil 6umar started business on 1-4-2012 with his in*estment in capital Rs. 50"000. n 1st (arch" 201 he reported that his assets and liabilities were3 !ash Rs. 2"000" balance at $an% Rs &"000" (achinery worth Rs. 50"000" )urniture of Rs. 1&"000 !losin Stoc% Rs.0"000" and 1&+ ban% loan ta%en on 1-10-2012 Rs. #0"000. Prepare his Statement of Affairs as on 1--201 and statement of profit and loss for the year endin 1--201. Adustment to be made3 1 'epreciate (achinery 7 10+ and furniture by Rs. &0. 2 Rent is Prepaid at Rs. 4"000 per month till 0th une"201. $. 'e* Anand %eeps" his boo%s by Sinle /ntry S ystm (ethod. 8is position on 1st 'ecember" 2005 was as follow3 !ash in hand Rs. 22"000" Sundry 'ebtors Rs.10"&00" )urniture Rs. 2"000" (achinary and Plant Rs.20"000" Sundry !reditors Rs.24"000. 'urin the year" he introduced Rs. 20"000 as further capital and withdrew Rs. 1"000 per month.

n 1st 'ecember"200 his assets and liabilities were as follows3 !ash in hand Rs. &00" !ash at ban% Rs. 1000" Sundry debtors Rs. 1"000" Stoc% Rs. 1#"000" Plant 9 (achinery Rs. 2&"000" )urniture Rs. 2"000" Sundry !reditors Rs.2"000. )rom the abo*e: prepare a statement showin the profit and loss made by him for the year ended 1st 'ecember"200 $.% ;he position of businessman who %eeps his boo%s o n sinle entry system was as under on 1-12-2005.

Particulars !ash in hand !ash at ban% Stoc% 'ebtors )urnitures Sundry !reditors

200& Rs. 400 5000 5&00 4000 00 4100

2005 Rs. 4#0 2&00 &000 &200 &0 100

8e withdraw Rs."&00 from business on 2-1-2005 out of wich he spent Rs. &200 for purchase of a motor  truc% for the business. Adustment3 1 'epreciation on closin balance of furniture and truc% at 10+. 2 uired to prepare a statement of profit and loss.