Page 171 - debkxi

Accounts from Incomplete Records—Single Entry System 20.7

Working Notes:
1. Drawings during the year: ` 2. Introduction of Capital: `
Transfer to Personal Bank Account: Lottery prize invested in the business 6,000
` 375 for 6 months 2,250 Sale proceeds of personal car utilised
` 300 for 6 months 1,800 for business 7,000
Withdrawn for daughter’s marriage 7,500 Total Capital Introduced 13,000
Withdrawn for domestic purposes 3,000
Total Drawings 14,550

Unsolved Questions

1. Calculate the missing value (figure): `
Capital in the beginning 72,000
Profit made during the year 12,000
Drawings 24,000
Capital introduced during the year 36,000
Capital at the end ?
[Ans.: Capital at the end—` 96,000.]

2. Calculate the missing value (figure): `
Capital in the beginning 80,000
Profits made during the year 30,000
Capital introduced during the year 40,000
Capital at the end 1,30,000
Drawings ?
[Ans.: Drawings—` 20,000.]

3. Calculate the missing value (figure): `
Profits made during the year 9,600
Capital at the end 32,000
Capital introduced during the year 8,000
Drawings 4,800
Capital in the beginning ?
[Ans.: Capital in the beginning—` 19,200.]

4. Calculate the missing value (figure): `
Capital at the end 36,000
Capital introduced during the year 6,000
Drawings 8,000
Loss 2,000
Capital in the beginning ?
[Ans.: Capital in the beginning—` 40,000.]