Shri Rajesh keeps his books by single entry method. Following are the details of his business.

Solution: In the books of Shri Rajesh.
Statement of Affairs as on 1.4.2012


Liabilities
Amount.
Assets
Amount
Creditors
15000
Cash in hand
10000
Capital at the Beginning of the year. [Bal. Fig.]
133000
Cash at Bank
20000


Stock
16000


Furniture
18000


Plant and Machinery
60000


Debtors
24000





148000

148000

Statement of Affairs as on 31. 3. 2013


Liabilities
Amount.
Assets
Amount
Creditors
18000
Cash in Hand
16000
Capital at the end of the year.
[Bal. Fig.]
196000
Cash at Bank
36000


Stock
24000


Furniture
18000


Plant and Machinery
90000


Debtors
30000





214000

214000

Statement of Profit Or Loss of Shri Rajesh for the year ended 31. 3. 2013


Particulars
Amount. Rs.
Amount. Rs.
Capital at the end of the year.

196000
Add: Drawings


Cash
10000

Goods
2000
12000


208000
Less: Additional Capital Introduced

2000
Adjusted Closing Capital

206000
Less: Capital at the beginning of the year.

133000
Profit Before Adjustments.

73000
Add: Incomes and Gains During the year.

-
Less: Expenses and Losses During the year


Depreciation of Machinery
7500

Depreciation on Furniture
900
8400
Net Profit of the year

64600