SOLUTION OF SINGLE ENTRY TEST - 2

Account/ Single Entry Test - 2
1
F.Y.B.Com.
SOLUTION OF SINGLE ENTRY TEST - 2
Dr.
Receipts
To Balance b/d
To Capital A/c
To Sales A/c
To Debtors A/c
Summary of
Rs.
1,20,000
50,000
20,000
62,000
Cash Book
Payments
By Purchases A/c
By Wages A/c
By Creditors A/c
By Drawings A/c
By Salaries A/c
By Rent A/c
By Closing Balance of Cash
2,52,000 Total Rs.
Total Rs.
Dr.
Particulars
To Balance b/d
To Credit Sales A/c
(Balancing figure)
Total Rs.
Total Sales =
=
=
Total Debtors Account
Rs. Particulars
48,500 By Bad Debts A/c
By Cash A/c
44,205 By Sales Returns A/c
By Balance c/d
92,705 Total Rs.
Cash Sales + Credit Sales
Rs. 2,25,000 + Rs. 44,205
Rs. 2,69,205
Dr.
Particulars
To Balance b/d
To Debtors A/c
(Balancing figure)
Total Rs.
Dr.
Particulars
To Balance b/d
To Bills Receivable A/c
(Dishonoured)
To Credit Sales A/c
(Balancing figure)
Total Rs.
Bills Receivable Account
Rs. Particulars
13,890 By Cash A/c
92,110 By Debtos A/c
By Balance c/d
1,06,000 Total Rs.
Total Debtors Account
Rs. Particulars
25,120 By Bad Debts A/c
2,000 By Bills Receivable A/c
By Sales Returns A/c
1,28,060 By Balance c/d
1,55,180 Total Rs.
Dr.
Total Creditors Account
Particulars
Rs. Particulars
To Cash A/c
72,000 By Balance b/d
To Purchases Returns A/c
3,500 By Purchases A/c
To Discount Received A/c
2,500
(Balancing figure)
To Balance c/d
1,50,500
Total Rs.
2,28,500 Total Rs.
Working Notes :
Total Purchases = Cash Purchases + Credit Purchases
= Rs. 1,35,000 + Rs. 1,28,400 = Rs. 2,63,400
Ex:1 (A)
Cr.
Rs.
35,000
2,000
10,000
36,000
15,000
5,000
1,49,000
2,52,000
Ex : 1 (B)
Cr.
Rs.
8,000
25,505
4,200
55,000
92,705
Ex : 1 (C)
Cr.
Rs.
75,000
2,000
29,000
1,06,000
Cr.
Rs.
1,200
92,110
17,000
44,870
1,55,180
Ex : 1 (A) (OR)
Cr.
Rs.
1,00,100
1,28,400
2,28,500
Account/ Single Entry Test - 2
Dr.
Particulars
To Balance b/d
To Credit Sales A/c
(Balancing Figure)
2
Total Debtors Account
Rs. Particulars
90,100 By Cash A/c
3,38,500 By Discount A/c
By Bad Debts A/c
By Sales Returns A/c
By Bills Receivable A/c
By Balance c/d
4,28,600 Total Rs.
F.Y.B.Com.
Ex : 1 (B)(OR)
Cr.
Rs.
2,20,000
8,500
1,100
22,000
52,000
1,25,000
4,28,600
Total Rs.
Working Notes : 1
Total Sales = Cash Sales + Credit Sales
= Rs. 2,20,500 + Rs. 3,38,500
= Rs. 5,59,000
Working Notes : 2 Dishnoured cheque was related to interest on loan and not on account of
cheque received from debtors, so the same has not been recorded in total debtors account
Dr.
Total Creditors Account
Cr.
Particulars
Rs. Particulars
Rs.
To Cash A/c
80,000 By Balance b/d
28,000
To Discount A/c
9,000 By Credit Purchase A/c
1,68,500
To Purchase Return A/c
17,500 (Balancing Figure)
To Bills Payable A/c
25,000
To Balance c/d
65,000
Total Rs.
1,96,500 Total Rs.
1,96,500
Working Notes :
Total Purchases = Cash Purchases + Credit Purchases
= Rs. 3,80,900 + Rs. 1,68,500 = Rs. 5,49,400
Ex : 1 (C)(OR)
Dr.
Bills Payable Account
Cr.
Particulars
Rs. Particulars
Rs.
To Cash A/c
1,200 By Balance c/d
13,000
To Balance c/d
1,22,000 By Creditors A/c (Bills accepted during
the year - Balancing figure)
1,10,200
Total Rs.
1,23,200 Total Rs.
1,23,200
Dr.
Total Creditors Account
Cr.
Particulars
Rs. Particulars
Rs.
To Cash A/c
16,500 By Balance b/d
5,000
To Purchase Return A/c
20,000 By Credit Purchase A/c
1,66,700
To Bills Payable A/c
1,10,200 (Balancing Figure)
To Balance c/d
25,000
Total Rs.
1,71,700 Total Rs.
1,96,500
Working Notes :
Total Purchases = Cash Purchases + Credit Purchases
= Rs. 2,20,000 + Rs. 1,66,700 = Rs. 3,86,700
Account/ Single Entry Test - 2
3
Books of Lovely
Cash Book
Rs. Particulars
3,55,000 By Machines A/c
60,000 By Computer A/c
15,000 By Purchases A/c
By Salaries A/c
By Miscellaneous Expenses A/c
By Drawings A/c
By Creditors (Cash paid)
By Balance c/d
(Balancing figure)
Total Rs.
4,30,000 Total Rs.
Dr.
Debtors Account
Particulars
Rs. Particulars
To Credit Sales A/c
30,000 By Cash A/c (Balancing figure)
By Balance c/d (given)
Total Rs.
30,000 Total Rs.
Dr.
Creditors Account
Particulars
Rs. Particulars
To Cash A/c (Balancing figure)
15,000 By Credit Purchases A/c
To Balance c/d (given)
10,000
Total Rs.
25,000 Total Rs.
Dr.
Trial Balance as at 31.3.
Particulars
Rs. Particulars
Machines
50,000 Capital
Computer
30,000 Sales :
Purchases :
Cash
60,000
Cash
40,000
Credit
30,000
Credit
25,000
65,000 Creditors
Salaries
10,500
Miscellaneous Expenses
1,000
Drawings
12,000
Cash-in-hand
(from Cash-Book)
2,71,500
Debtors
15,000
Total Rs.
4,55,000 Total Rs.
Dr.
Trading and Profit & Loss Account
for the year ended 31st March,
Particulars
Rs. Particulars
To Purchase
65,000
By Sales
Less : Good
1,000 64,000 By Closing Stock
To Gross Profit
46,000
Total Rs.
1,10,000 Total Rs.
To Salaries
10,500 By Gross Profit
To Miscellaneous Expenses
1,000
To Depreciation on Machines
5,000
To Net Profit
29,500
Total Rs.
46,000 Total Rs.
Dr.
Particulars
To Capital A/c
To Sales A/c
To Debtors (Cash Received)
F.Y.B.Com.
Ex : 2
Cr.
Rs.
50,000
30,000
40,000
10,500
1,000
12,000
15,000
2,71,500
4,30,000
Cr.
Rs.
15,000
15,000
30,000
Cr.
Rs.
25,000
25,000
Cr
Rs.
3,55,000
90,000
10,000
4,55,000
Cr
Rs.
90,000
20,000
1,10,000
46,000
46,000
Account/ Single Entry Test - 2
Liabilities
Creditors
Capital
Add Net Profit
Less : Drawings
(12,000 + 1,000)
Total Rs.
4
Balance Sheet as at 31st March,
Rs. Assets
10,000 Cash
3,55,000
Debtors
29,500
Stock
3,84,500
Machines
(13,000) 3,71,500 Less : Dep.
Computer
3,81,500 Total Rs.
F.Y.B.Com.
Rs.
2,71,500
15,000
20,000
50,000
5,000
45,000
30,000
3,81,500
Ex : 2 (OR)
Books of Aman
Memorandum Balance Sheet as at 1.4.
Liabilities
Rs. Assets
Rs.
Sundry Creditors
31,000 Cash
23,500
Capital (Balancing figure)
1,03,500 Sundry Debtors
33,000
Stock
7,000
Office Equipment
26,000
Computers
45,000
Total Rs.
1,34,500 Total Rs.
1,34,500
Trading and Profit and Loss Account
Dr.
for the year ended 31st March,
Cr.
Particulars
Rs. Particulars
Rs.
ToOpening stock
7,000 By Sales
69,000
To Purchases
48,000
(Rs. 62,000 + Rs. 7,000)
To Wages
1,200 By Closing Stock
11,000
To Carriage
800
To Gross Profit
23,000
Total Rs.
80,000 Total Rs.
80,000
To Insurance
4,000 By Gross Profit
23,000
To Rent
3,500
To Sundry Expenses
2,000
To Provision for Doubtful Debts
2,000
To Depreciation on Computers
4,500
To Depreciation on Office Equipment
2,600
To Net Profit transferred to Capital A/c
4,400
Total Rs.
23,000 Total Rs.
23,000
Balance Sheet as on 31st March,
Liabilities
Rs. Assets
Rs.
Sundry Creditors
45,000 Cash
35,000
Sundry Debtors
Rs. 40,000
Capital
Rs. 1,03,500
Less : Provision
Rs. 2,000 38,000
Less : Drawings
Rs. 5,000
Stock
11,000
Rs. 98,500
Office Equipment
Rs. 26,000
Add : Net Profit
Rs. 4,400 1,02,900 Less : Depreciation
Rs. 2,600 23,400
Computers
Rs. 45,000
Less : Depreciation
Rs. 4,500 40,000
Total Rs.
1,47,900 Total Rs.
1,47,900

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