PRO FORMA OF STATEMENT OF PROFIT OR LOSS IN SINGLE ENTRY



Single entry system

Statement of Profit or Loss for the year ended __________________


Particulars
Amount
Amount
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



TEXTUAL PROBLEMS WITH SOLUTIONS AND VIDEO.

1. Mr. Mangesh is dealing in business. He maintains his accounting with single entry.


2. Mrs. Ankita keeps her books under Single Entry System and gives the following information.


3. Miss Kavita commenced her business with a capital of Rs. 1,30,000.













EXTRA BOARD QUESTION WITH SOLUTION

11. Mr. Ganesh keeps his books by single entry method..and you were given the following information...