SINGLE ENTRY ACCOUNTING SYSTEM PRACTICE PROBLEMS


OMTEX CLASSES

1.      Mrs. SUBITHA keeps her books under single entry system and gives the following information.
Particulars
1.4.2011
31.3.2012
Investments

22000
Bank overdraft

11000
Bills Payable
5000
8000
Creditors
26500
30500
Furniture
10000
20000
Debtors
40000
50000
Stock in Trade
15000
19000
Bank Balance
18000
28000
Mrs. Anita withdrew Rs. 3000 for her personal use. She received Rs. 10000 from her father as gift, which she brought into the business.
Additional furniture was purchased on 1st October, 2011. Depreciate furniture by 10% p.a.
Write off Rs. 2000 as bad and provide 5% R.D.D. on debtors.
Find the profit or loss of her business for the year ended 31st March, 2012.


2.      Mrs. KAVITHA keeps her books under single entry system and gives the following information.
Particulars
1.4.2011
31.3.2012
Investments

12000
Bank overdraft

10000
Bills Payable
5000
8000
Creditors
20000
30000
Furniture
1000
11000
Debtors
35000
50000
Stock in Trade
15000
19000
Bank Balance
18000
28000
Mrs. Anita withdrew Rs. 1000 for her personal use. She received Rs. 12000 from her father as gift, which she brought into the business.
Additional furniture was purchased on 1st October, 2011. Depreciate furniture by 10% p.a.
Write off Rs. 1000 as bad and provide 5% R.D.D. on debtors.
Find the profit or loss of her business for the year ended 31st March, 2012.



3.      Mrs. SAVITHA keeps her books under single entry system and gives the following information.
Particulars
1.4.2011
31.3.2012
Investments

80000
Bills Payable
5000
8000
Creditors
25000
35000
Furniture
9000
19000
Debtors
35000
50000
Stock in Trade
15000
19000
Bank Balance
18000
28000
Mrs. Anita withdrew Rs. 3500 for her personal use. She received Rs. 5000 from her father as gift, which she brought into the business.
Additional furniture was purchased on 1st October, 2011. Depreciate furniture by 10% p.a.
Write off Rs. 1000 as bad and provide 5% R.D.D. on debtors.
Find the profit or loss of her business for the year ended 31st March, 2012.



SINGLE ENTRY ACCOUNTING SYSTEM

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...