Single entry system
Particulars
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Amount
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Amount
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Capital at the end of the year.
Add : Drawings
Less: Additional Capital introduced.
Adjusted Closing Capital
Less: Capital at the beginning of the year.
Profit Before Adjustments
Add: Incomes & Gains during the year.
Interest on Drawings.
Undervaluation of Assets.
Overvaluation of Liabilities
Prepaid Expenses.
Outstanding Income.
Increase in value of Assets
Decrease in value of Liabilities.
Less: Expenses & Losses during the year.
Interest on Capital
Depreciation on Assets
Interest on Loan
Overvaluation of Assets
Undervaluation of Liabilities.
Bad Debts
Reserve for Doubtful Debts.
Salary to Partner
Outstanding Expenses.
Decrease in value of Assets
Increase in value of Liabilities.
Net Profit
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