Question

♡⚫Heya Mates ⚫♡
Topic: Single Entry System
Ques: Mahesh who keeps his books on Single Entry System sells goods at Cost plus 50% .
On 1st April,2018 his capital was ₹4,00,000 and on 31st March,2019 it was ₹3,50,000. He has withdrawn ₹20,000 per month besides goods of the sale value of ₹60,000.How much did he earn in 2018-19?​

Answer 1

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Mahesh who keeps his books on Single Entry System sells goods at Cost plus 50% .

On 1st April,2018 his capital was ₹4,00,000 and on 31st March,2019 it was ₹3,50,000. He has withdrawn ₹20,000 per month besides goods of the sale value of ₹60,000.How much did he earn in 2018-19?

$\huge\sf{Answer:}$

Statement of Profit / Loss -

________________________________

Particulars.........|...........Amount

________________________________

Closing Capital..|..........1,32,000

________________________________

Less: Opening ...|

Capital................|.........(1,00,000)

________________________________

Add Drawings....|...........24,000

________________________________

Profit..................|............56,000

________________________________

_____________________

Closing Statement of Affairs -

________________________________

Liabilities.......| Amount | Assets

________________________________

Creditors.......| 12,000...| Cash

________________________________

Loan from.....

Brother..........| 10,000...| Stock

________________________________

Capital Bal. Fig. | 1,32,000 | Debators

________________________________

-----------------1,54,000----------------

Answer 2

Answer:

hi mate here is your answer ⏬⏬⏬⏬⏬

1,54,000.

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