OMTEX CLASSES: In the books of Mr. John. Single Entry Accounting System.

In the books of Mr. John. Single Entry Accounting System.

2. In the books of Mr. John.
Statement of Affairs.


Liabilities
1.4.12
31.3.13
Assets
1.4.12
31.3.13
Sundry Creditors
54500
60400
Machinery
70000
70000
Capital Fund
(Balancing Figure)
178700
216400
Furniture
10000
20000



Stock
36000
42000



Sundry Dentors
72200
88400



Cash in Hand
3000
4100



Cash at Bank
42000
52300

233200
276800

233200
276800

Statement of profit or Loss for the year ended 31st March, 2013


Particulars
Amount
(Rs.)
Amount
(Rs.)
Capital at the endo fothe accounting year. 2012 - 13

216400
Add: Drawings made duing the accounting year.

15000


231400
Less: Additional Capital Introduced

20000
Adjusted Closing Capital

211400
Less: Capital at the begining of the accounting year

178700


32700
Less: Depreciation


On Machinery (10% on Rs.70000 for 1 year)
7000

On Opening Furniture (20% p.a. On Rs. 10000 for 1 year)
2000

On Additional Furniture (20% on Rs. 10000 for 6 months)
1000
10000
Net profit Earnied during the year.

22700