SINGLE ENTRY ASSIGNMENT FOR PRACTICE

OMTEX CLASSES 
Mr. Mangesh is dealing in business. He maintains his accounting with single entry. The following details of his business.
PARTICULARS
1.4.12
31.3.2013
Land and building
40000
50000
Machinery
30000
40000
Furniture
10000
10000
Debtors
20000
40000
Stock
10000
25000
Cash Balance
5000
15000
Bills Receivable
5000
5000
Creditors
25000
25000
Bank Overdraft
5000
-
Bank Balance
-
10000
Mr. Mangesh introduced Rs. 10000 as additional capital. He spent Rs. 45000 for personal use. 
Depreciate Land and Building by Rs. 5000. Provide 5% R.D.D. on Debtors. 
Prepare Opening Statement of affairs, Closing Statement of affairs and the statement of profit or loss. 

Mr. Rajesh is dealing in business. He maintains his accounting with single entry. The following details of his business.

PARTICULARS
1.4.12
31.3.2013
Land and building
50000
50000
Machinery
35000
40000
Furniture
10000
10000
Debtors
30000
40000
Stock
10000
25000
Cash Balance
5000
15000
Bills Receivable
5000
20000
Creditors
25000
25000
Bank Overdraft
5000
-
Bank Balance
-
10000
Mr. Rajesh introduced Rs. 10000 as additional capital. He spent Rs. 40000 for personal use. 
Depreciate Land and Building by Rs. 1000. Provide 10% R.D.D. on Debtors. 
Prepare Opening Statement of affairs, Closing Statement of affairs and the statement of profit or loss. 

OMTEX CLASSES 
Mr. A is dealing in business. He maintains his accounting with single entry. The following details of his business.
PARTICULARS
1.4.12
31.3.2013
Land and building
50000
60000
Machinery
40000
50000
Furniture
10000
50000
Debtors
20000
40000
Stock
10000
25000
Cash Balance
5000
15000
Bills Receivable
5000
5000
Creditors
25000
25000
Bank Overdraft
5000
-
Bank Balance
-
10000
Mr. A introduced Rs. 5000 as additional capital. He spent Rs. 60000 for personal use. 
Depreciate Land and Building by Rs. 3000. Provide 5% R.D.D. on Debtors. 
Prepare Opening Statement of affairs, Closing Statement of affairs and the statement of profit or loss. 

Mr. B is dealing in business. He maintains his accounting with single entry. The following details of his business.

PARTICULARS
1.4.12
31.3.2013
Land and building
50000
50000
Machinery
35000
40000
Furniture
70000
80000
Debtors
30000
40000
Stock
10000
25000
Cash Balance
5000
15000
Bills Receivable
5000
20000
Creditors
25000
35000
Bank Overdraft
9000
-
Bank Balance
-
20000
Mr. B introduced Rs. 2000 as additional capital. He spent Rs. 9000 for personal use. 
Depreciate Land and Building by Rs. 500. Provide 10% R.D.D. on Debtors. 

Prepare Opening Statement of affairs, Closing Statement of affairs and the statement of profit or loss. 

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