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20.8 Double Entry Book Keeping—CBSE XI

5. Ram maintains his accounts under single entry system. He provides you the following
information:
`
Capital as at 1st April, 2023 15,200
Capital as at 31st March, 2024 16,900
Drawings during the period: 1st April, 2023 to 31st March, 2024 4,800
Additional Capital introduced on Oct. 1, 2023 2,000
You are required to calculate profit for the year ending 31st March, 2024
[Ans.: Profit—` 4,500.]
6. Opening Capital ` 3,60,000, Drawings ` 30,000, Capital added during the year ` 60,000 and
Closing Capital ` 5,40,000. Calculate profit or loss for the year. [Ans.: Profit—` 1,50,000.]
7. Shewta keeps her books under a single entry system. Her position on 1st April, 2023 was
as under:
Cash in hand ` 200; Cash at Bank ` 3,000; Stock ` 20,000; Sundry Debtors ` 8,500; Fixtures
` 1,800; Machinery ` 15,000; Sundry Creditors ` 22,000; Shweta brought ` 5,000 more for
capital during the year and withdrew ` 750 per month.
Her position on 31st March, 2024 was as under:
Cash in hand ` 300; Cash at bank ` 2,000; Sundry Debtors ` 14,000; Stock ` 19,000;
Machinery ` 27,000; Fixtures ` 1,500; Sundry Creditors ` 29,000.
Prepare a statement on 31st March, 2024 for finding out profit. [Ans.: Profit—` 12,300.]
8. Sri S.K. Rao does not keep proper books of account. The following information is available
for the year ended 31st March, 2024:
1st April, 2023 31st March, 2024
` `
Sundry Creditors 63,000 45,000
Cash in hand 3,000 5,000
Bank 10,000 15,000
Sundry Debtors 80,000 75,000
Stock 40,000 45,000
Plant & Machinery 30,000 50,000
He withdrew ` 2,000 at the end of every month and introduced ` 5,000 as additional capital.
Additional plant was purchased on 1st October, 2023. Depreciation of the plant was at 10% p.a.
Ascertain the profit or loss for the year ending 31st March, 2024.
[Ans.: Opening Capital—` 1,00,000; Closing Capital—` 1,45,000;
Net Profit—` 60,000; Depreciation on Plant—` 4,000.]
9. X keeps his books by a single-entry system. He gives the following information from which
you are required to ascertain his profit or loss during the year 31st March, 2024:
31st March, 2023 31st March, 2024
` `
Bank balance 12,000 15,000
Cash in hand 1,000 1,200
Sundry Debtors 51,000 62,000
Sundry Creditors 11,000 15,000
Stock 17,000 19,000
Plant 50,000 1,00,000
Furniture 25,000 45,000