Question No 05 Chapter No 19
5. 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 calculate the Profit or Loss made by Mohan.
The solution of Question No 05 Chapter No 19:-
| Statement of Profit or Loss |
||
| Particular |
Amount | |
| Capital at the end | 16,900 | |
| Add: Drawings | 4,800 | |
| 21,700 | ||
| Less: Additional Capital Introduced |
2, 000 | |
| Adjusted Capital at the end | 19,700 | |
| Less: Capital in the beginning | 15, 200 | |
| Profit made during the year 2017-18 | 4,500 | |
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
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Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
-
- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication
T.S. Grewal’s Double Entry Book Keeping