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