Mohan maintains books on Single Entry System. He gives you the following information:

₹

Capital on 1st April, 2018 15,200

Capital on 31st March, 2019 16,900

Drawings made during the year 4,800

Capital introduced on 1st August, 2018 2,000

You are required to calculate the Profit or Loss made by Mohan.

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Solution

Statement of Profit or Loss

Particulars

Amount

(₹)

Capital as on March 31, 2019

16,900

Add: Drawings

4,800

21,700

Less: Addition Capital Introduced

(2,000)

Adjusted Capital as on March 31, 2019

19,700

Less: Capital as on April 01, 2018

(15,200)

Profit made during the year 2018-19

4,500

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Q. Mohan maintains books on Single Entry System. He gives you the following information:

	₹
Capital on 1st April, 2017	15,200
Capital on 31st March, 2018	16,900
Drawings made during the year	4,800
Capital introduced on 1st August, 2017	2,000

You are required to calculat the Profit or Loss made by Mohan.

Q. From the following information supplied by Rohit, who keeps his books on Single Entry System, you are required to calculate Total Purchases:

	₹
Opening balance of Bills Payable	5,000
Opening balance of Creditors	6,000
Closing balance of Bills Payable	7,000
Closing balance of Creditors	4,000
Cash paid to Creditors during the year	30,200
Bills Payable discharged during the year	8,900
Returns Outward	1,200
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$\begin{matrix} Particulars & 1.1.2011 & 31.12.2011 (R s) & (R s) Assets: Stock-in-Trade & 18, 700 & 23, 400 Sundry Debtors & 12, 000 & 14, 000 Bills receivalbe & 4, 000 & 5, 000 Furniture & 600 & 600 Building & 12, 000 & 12, 000 Bank Balance & 4, 350 & - Liabilities: Sudry Creditors & 9, 000 & 1, 500 Payable & 1, 000 & 200 Bank Overdraft & - & 3, 350 \end{matrix}$

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Raghav, who keeps his books on single entry system, tell you that his capital on 31st March, 2016 is Rs 3,74,000 and his capital on 1st April, 2015 was 3,84,000. He further informs you that during the year, he withdrew for his household purpose Rs 1,68,400. He sold his personal investment of Rs 40,000 a $2 %$ premium and brought that money into the business.

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Q. Vikas maintains his books of account on Single Entry System. He provides following information from his books. Find out additional capital introduced in the business during the year 2017–18.
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	₹
Capital on 1st April, 2018	15,200
Capital on 31st March, 2019	16,900
Drawings made during the year	4,800
Capital introduced on 1st August, 2018	2,000

Statement of Profit or Loss
Particulars	Amount (₹)
Capital as on March 31, 2019	16,900
Add: Drawings	4,800
	21,700
Less: Addition Capital Introduced	(2,000)
Adjusted Capital as on March 31, 2019	19,700
Less: Capital as on April 01, 2018	(15,200)
Profit made during the year 2018-19	4,500

Statement of Profit or Loss Particulars Amount (₹) Capital as on March 31, 2019 16,900 Add: Drawings 4,800 21,700 Less: Addition Capital Introduced (2,000) Adjusted Capital as on March 31, 2019 19,700 Less: Capital as on April 01, 2018 (15,200) Profit made during the year 2018-19 4,500