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 1^st 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 31^st 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 1^st 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 31^st 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 1^st 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 31^st 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.

4. Mahendra keeps his books by single entry system.

5. Mr. Suhas a small trader provides you the following details about his business.

6. Mr. Govind keeps his books on single entry system and disclosed the following information of his business.

7. Sun and Moon are partners in a firm sharing profits and losses in the ratio of 3:2.

8. A and B are in Partnership. Their capitals on 1st April 2010 were Rs. 30,000 each.

9. Asha and Usha were partners sharing profits and losses in the ratio of 2:1.

Pro Forma of Statement of Profit or Loss

EXTRA BOARD QUESTION WITH SOLUTION

1. Mrs. Archana keeps her books on single entry system and gives the following information.

2. Rani keeps her books on single entry & following information were available ..

3. On 01/04/06, Mr. Bannerjee commenced business with. capital of Rs. ..

4. The following information is available from Ram’s  records ...

5. Following records of Mr. Raj were kept on single entry system..

6. Mr. Keshav keeps his books on single entry system and disclosed the following information of his business.

7. Mr. Suryakant maintains books on single entry and the following information were available ...

8. Mr. Gopal maintained his books on single entry. The following information conveys...

9. Prem a trader keeps his books by the single entry system ...

10. Mr. Prabhakar is a retail trader. He had no proper records of his transactions in the business...

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