Question

Single entry system presentation of data

Answer 1

 single entry system records each bookkeeping exchange with a single entry section to the bookkeeping records, instead of the limitlessly more boundless double entry system. ... The center data followed in a single entry system is money distributions and money receipts.

Answer 2

see below

Explanation:

Single entry system is that system where full information are not available

so we record only one aspects of transaction. under this system sometimes

Proprietor not maintained books of accounts in this system we create only real personal account it is vary with circumstances it is prepared by small proprietor and court does not consider authentic. if we calculate profit there is two method first Statement of affairs method second is conversion method

under first method no requirement of  full information just need few transactions to find profit (so we make profit statement only)

Under second method we convert full information to prepare final accounts of company first we prepare balance sheet for opening capital then we real personal account then prepare final account

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