Statement of affairs is a

Opening balance of debtors: Rs. 30,000, cash received: Rs. 1,00,000, credit sales: Rs. 90,000; closing balance of debtors is

A firm has assets worth Rs. 60,000 and capital Rs. 45,000.Then it's liabilities is _________

Capital at the end - net profit + drawings = 

Assertion (A): Double Entry System It maintains only personal and cash accounts.
Reason (R): Personal accounts are not maintained.
(a) Both (A) and (R) are true and (R) is the correct explanation (A).
(b) Both (A) and (R) are true and (R) is not the correct explanation of (A).
(c) (A) is true, but (R) is false.
(d) (A) is false, but (R) is true.

(a) Conversion method
(b) Statement of affairs method
(c) Straight line method
(d) Net worth method

(i) Companies cannot keep books on double entry system because of legal provisions.
(ii) It is always incomplete Single entry varying with circumstances.
(iii) Single entry actually refers to incomplete double entry system or the defective double entry system.
(a) (i) is correct
(b) (ii) is correct
(c) (iii) is correct
(d) (i) and (ii) are correct

From the following particulars ascertain profit or loss: 

What are the possible reasons for keeping incomplete records?

From the following details, calculate the missing figure

What are the limitations of incomplete records?

From the following particulars, calculate total sales

Radhika started a small bakery for providing healthy and good quality bakery product at reasonable prices on 1^st January, 2019 with a capital of Rs. 1,80,000. She appointed a ten year old boy as a sweeper. She withdrew Rs. 60,000 for household expenses. She introduced Rs. 20,000as fresh capital. Her position of assets and liabilities as at 31^st December, 2019 stood as follows.

Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

Adjustments:
Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

Mrs. Geetha started business with Rs. 1,20,000 as capital on 1.4.2018. During the year she has withdrawn at the rate of Rs. 1,000 per month. She introduced Rs. 20,000 as additional capital. Her position on 31.3.2019 was as follows.

She keeps her books under single entry system, determine for profit or loss for the year 2003-04. 

From the following details of vijay who maintains incomplete records, prepare trading and profit and loss account for the year ended 31^st March 2018 and a Balance sheet as on the date.

 Other details: