SHREE SAMARTH CLASSES

Sub:- B.K.

(Single Entry System)

TIME: 1.30 hrs

Q 1. Shri Shyam Sunder reported that his assets and liabilities were as under.
Rs. As on
Particular of Assets and liabilities
01-04-2012
Cash on hand
30,000
Balance at Bank
25,000
Sundry Debtors
35,000
Sundry Creditors
30,000
Machinery
40,000
Furniture
20,000
Bill Receivable
10,000
12 % Bank Loan
50,000
Outstanding Expenses
5,000
Adjustment:
1) Depreciate Machinery and Furniture at 10% per annum.
2) Provide Reserve for Doubtful debts at 5% on sundry debtors.
3) Make provision for outstanding interest on Bank loan for 6 month.

MARKS 32

Rs. As on
31-03-2013
28,000
24,000
32,000
31000
40,000
20,000
12,000
50,000
7,000

Q.2 Mr. Anil Kumar started business on 1-4-2012 with his investment in capital Rs. 60,000. On 31st March,
2013 he reported that his assets and liabilities were: Cash Rs. 23,000, balance at Bank Rs 35,000, Machinery
worth Rs. 60,000, Furniture of Rs. 15,000 Closing Stock Rs.30,000, and 15% bank loan taken on 1-10-2012 Rs.
80,000. Prepare his Statement of Affairs as on 31-3-2013 and statement of profit and loss for the year ending
31-3-2013.
Adjustment to be made:
1) Depreciate Machinery @ 10% and furniture by Rs. 750.
2) Rent is Prepaid at Rs. 4,000 per month till 30th june,2013.
Q.3 Dev Anand keeps, his books by Single Entry Systm Method. His position on 31st December, 2006 was as
follow: Cash in hand Rs. 22,000, Sundry Debtors Rs.10,500, Furniture Rs. 2,000, Machinary and Plant
Rs.20,000, Sundry Creditors Rs.24,000. During the year, he introduced Rs. 20,000 as further capital and
withdrew Rs. 1,000 per month.
On 31st December,2007 his assets and liabilities were as follows:
Cash in hand Rs. 500, Cash at bank Rs. 1000, Sundry debtors Rs. 13,000, Stock Rs. 18,000, Plant & Machinery
Rs. 25,000, Furniture Rs. 2,000, Sundry Creditors Rs.27,000.
From the above; prepare a statement showing the profit and loss made by him for the year ended 31st
December,2007
Q.4 The position of businessman who keeps his books on single entry system was as under on 31-12-2006.

Particulars
Cash in hand
Cash at bank
Stock
Debtors
Furnitures
Sundry Creditors

2005 Rs.
400
6000
6500
4000
300
4100

2006 Rs.
480
2500
5000
5200
350
3100

He withdraw Rs.7,500 from business on 2-1-2006 out of wich he spent Rs. 5200 for purchase of a motor
truck for the business.
Adjustment:
1) Depreciation on closing balance of furniture and truck at 10%.
2) Write off Rs. 220 as bad debts.
3) 5 % provision for bad and doubtful debts is needed.
Find out the profit or loss for the year.
Q 5. Pradeep, a trader, does not keep proper books of accounts. However, he furnishes you the following
particulars
Particulars
Cash at Bank
Cash in hand
Stock in Trade
Debtors
Creditors
Furniture
Office Equipment

31-3-2006
4500
1300
39000
12000
30000
4000
5000

31-3-2007
5000
2000
45000
20000
20000
4000
5000

During the year, Pradeep introduced Rs.7000 as future capital and withdrew Rs. 5000 as Drawings. Write off
depreciation on furniture at 10% and on office equipment at 5%.
prepare a statement showing the profit and loss made by him for the year ended 31st march,2007.
Q.6. Mr. Black keeps his books in single entry system. His accounting year closes on 31st march every year. On
1st April,2006, his position was as under:
Sundry creditors Rs. 40,000, Cash at bank Rs.12,000, Sundry Debtors Rs.80,000, Stock Rs. 20,000 and
plant Rs. 90,000.
On 31st march 2007, his position was as follow:_ Sundry Creditors Rs. 70,000, Cash in Hand Rs. 1000,
Cash at bank Rs.44,000, Sundry Debtors Rs. 98,000, Stock Rs.24,000 and Plant Rs. 90,000.
Mr. Black had withdrawn Rs. 1000 every month for his personal use. He introduced Rs. 50,000 as an
additional capital on 1-8-2006. Mr. Black informed that on 1-10-2006 plant worth Rs. 50,000 were purchased
by him.
Depreciation at 10% p.a. is to be provided on Plant and Reserve for Bad and Doutful Debts at 2 % on
closing debtors is to be maintained.
you are required to prepare a statement of profit and loss.