Question Text
Question 1 :
Excess of opening capital over closing capital of proprietor under single entry system is called __________.<br/>
Question 3 :
An accounting system where debit and credit rule is not followed.<br/>
Question 5 :
A statement of ____________ is to be prepared in order to find out the profit and loss under a single entry system.<br>
Question 6 :
Total sales during the year amounted to Rs.170000, cash sales Rs.10000, outstanding debtors at the end of the year Rs.25000. Cash received from debtors will be Rs.____________.<br/>
Question 7 :
Cost of goods sold is Rs$1,20,000$ Gross Profit : $1/4th$ on sales what is the amount of sales.
Question 8 :
Calculate : Sales<b><br/></b>Opening Debtors Rs.5000<br/><b></b>Opening Bills Receivable Rs.2000<br/>Cash received from Debtors (including cash from bills receivable) Rs.10000<br/>Closing bills receivable Rs.1000<br/>Closing debtors Rs.8000<br/>
Question 9 :
To ascertain the profit, closing capital is to be adjusted by deducting ________ and adding _________.<br/>
Question 10 :
Calculate Bills Drawn and Accepted if :<br/>Bills receivable drawn in customers opening balance of bills Rs.7000<br/>Bills received endorsed to creditors Rs.1000<br/>Bill dishonored by customers Rs.2000<br/>Bills collected Rs.13000<br/>Closing Balance of Bills Receivable Rs 5000<br/>