Single entry system

credit sales can be computed by preparing :

• cash a/c

• debtors a/c

• creditors a/c

• statement if affairs

which of the following is not prepared under single entry system?

• debtors a/c

• creditors a/c

• bill receivable a/c

• trial balance

single entry system is not recognised by

• income tax authorities

• small firms

• debtors

• creditors

acceptance received during the year should be debited to ..............................

• bills payable a/c

• creditors a/c

• bills receivable a/c

• debtors a/c

which of the following is correct

• only real a/c are maintained

• only personal a/c are maintained

• personal a/c and cash a/c are maintained

• real a/c are maintained

mohan who keeps book under single entry system tell you that his capital on 31st march,2020 is 93,500 and his capital on 1st april 2019 was 96,000. during the year he withdrew for household purpose 42,100. he once sold his investments of Rs. 10,000 at 2% premium and brought that money into the business. calculate profit.

• 59200

• 29400

• 13200

• 50400

kartik started a firm on 1st april 2019 with capital of Rs. 30,000. on 1st july 2019 , he borrowed from his wife a sum of 12000 @ 9% p.a (interest not yet paid) for business and introduced a further capital of his own amounted to 4,500. on 31st march 2020 his position was,cash 1800, stock 28200, debtors 21,000 and creditors 18,000. drawings during the year were 6000. calculate capital at the end of the year

• 17,460

• 30,380

• 20,190

• 35,930

sales are Rs. 50,000. Gross profit is 25% on cost. calculate cost og goods sold

• 12,500

• 10,000

• 15,000

• 7,500

which generally accepted accounting principle is followed under single entry system.

• dual aspect concept

• money measurement concept

• matching concept

• nonnone of thesee of the