From the following table giving data regarding income of persons- draw a Lorenz curve- array - c - c - Wline0-5-000 - 5 15-000-10-000 - 10 110-000-20-000 - 18 120-000-40-000 - 10 -40-000-50-000 - 7 Wlhlinelend array

[ Wages amp; M.V amp; Cumulative amp; Cumulative amp; No. of amp; Cumulative amp;Cumulative; (Rs) amp; (m) amp; of M ...

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Standard XI

Statistics

Lorenz Curve

From the foll...

Question

From the following table giving data regarding income of persons, draw a Lorenz curve.

$\begin{matrix} Wages (Rs) & Persons 0 - 5, 000 & 5 5, 000 - 10, 000 & 10 10, 000 - 20, 000 & 18 20, 000 - 40, 000 & 10 40, 000 - 50, 000 & 7 \end{matrix}$

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Solution

$\begin{matrix} Wages & M.V & Cumulative & Cumulative & No. of & Cumulative & Cumulative (Rs) & (m) & of M.V & % M.V & Persons & frequency & frequency (f) & as % 0 - 5, 000 & 2500 & 2500 & 2.5 & 5 & 5 & 10 5, 000 - 10, 000 & 7500 & 10000 & 10.0 & 10 & 15 & 30 10, 000 - 20, 000 & 15000 & 25000 & 25.0 & 18 & 33 & 66 20, 000 - 40, 000 & 30000 & 55000 & 55.0 & 10 & 43 & 86 40, 000 - 50, 000 & 45000 & 100000 & 100.0 & 7 & 50 & 100 \end{matrix}$

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Q. Prepare Trading and Profit and Loss Account and Balance Sheet of Jagat Shah as at 31st March, 2018 from the following balances:

	₹		₹
Capital (Cr.)	3,60,000	Salaries	60,000
Machinery	70,000	General Expenses	20,000
Sales	8,20,000	Rent	50,000
Purchases	4,00,000	Purchases Return	5,000
Sales Return	10,000	Debtors	3,00,000
Stock on 1st April, 2017	1,00,000	Cash	40,000
Drawing	40,000	Carriage Outwards	20,000
Wages	1,00,000	Advertising	20,000
Carriage Inwards	5,000	Creditros	50,000

The Closing Stock was valued at ₹ 2,00,000.

PRACTICAL PROBLEMS

Mr. Mangesh is dealing in business. He maintains his accounting with Single Entry. The following are details of his business.

Particulars	01-04-2012	31-03-2013
Land and Building	40,000	50,000
Machinery	30,000	40,000
Furniture	10,000	10,000
Debtors	20,000	40,000
Stock	10,000	25,000
Cash Balance	5,000	15,000
Bills Receivable	5,000	5,000
Creditors	25,000	25,000
Bank Overdraft	5,000	——
Bank Balance	——	10,000

Mr. Mangesh introduced Rs 10,000 as additional Capital. He spent Rs 45,000 for personal use Depreciate Land and Building by Rs 5,000. Provide 5% R.D.D. on Debtors.

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

Draw a Lorenz curve from the data given below

$\begin{matrix} Income & 100 & 200 & 400 & 500 & 800 Number of Persons & 80 & 70 & 50 & 30 & 20 \end{matrix}$

Prepare Comparative Income Statement from the following information:

Particulars	2016-17 Rs.	2015-16 Rs.
Freight Outward	20,000	10,000
Wages (office)	10,000	5,000
Manufacturing Expenses	50,000	20,000
Stock adjustment	(60,000)	30,000
Cash purchases	80,000	60,000
Credit purchases	60,000	20,000
Returns inward	8,000	4,000
Gross profit	(30,000)	90,000
Carriage outward	20,000	10,000
Machinery	3,00,000	2,00,000
Charge 10% depreciation on machinery	10,000	5,000
Interest on short-term loans	20,000	20,000
10% debentures	20,000	10,000
Profit on sale of furniture	20,000	10,000
Loss on sale of office car	90,000	60,000
Tax rate	40%	50%

Draw bar graph for the given data.
$\begin{matrix} players & score Rahul & 90 Sachin & 99 Sehwag & 30 Gambhir & 30 Yuvraj & 48 Kohli & 82 Zaheer & 0 Nehra & 1 Mishra & 19 \end{matrix}$

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From the following table giving data regarding income of persons, draw a Lorenz curve. Wages (Rs)Persons0−5,00055,000−10,0001010,000−20,0001820,000−40,0001040,000−50,0007

WagesM.VCumulativeCumulativeNo. ofCumulativeCumulative(Rs)(m)of M.V% M.VPersonsfrequencyfrequency(f)as %0−5,000250025002.555105,000−10,00075001000010.010153010,000−20,000150002500025.018336620,000−40,000300005500055.010438640,000−50,00045000100000100.0750100

From the following table giving data regarding income of persons, draw a Lorenz curve.

$\begin{matrix} Wages (Rs) & Persons 0 - 5, 000 & 5 5, 000 - 10, 000 & 10 10, 000 - 20, 000 & 18 20, 000 - 40, 000 & 10 40, 000 - 50, 000 & 7 \end{matrix}$