Page 2 - HA- SUBJECTIVE - Copy

Question 5:

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.
Opening Capital–₹ 1,30,000 Drawing during the year ₹ 50,000
Closing Capital–₹ 2,00,000 Profit made during the year ₹ 1,00,000

Question 6:

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.

Question 7:

Mahesh who keeps his books on Single Entry System sells goods at Cost plus 50%. On
1st April, 2017 his Capital was ₹4,00,000 and on 31st March, 2018 it was ₹3,50,000. He
had withdrawn ₹20,000 per month besides goods of the sale value of ₹60,000. How
much did he earn in 2017-18?

Question 8:

Krishan started his business on 1st April, 2017 with a Capital of ₹ 1,00,000. On 31st
March, 2018, his assets were :

₹
Cash 3,200
Stock 34,800
Debtors 31,000
Plant 85,000

He owed ₹ 12,000 to sundry creditors and ₹ 10,000 to his brother on that date. He
withdrew ₹ 2,000 per month for the private expenses. Ascertain his profit.