ACCOUNTS ONLY (SINGLE LEDGER)

Problems with accounts only in Single Ledger

 Sriram started a business with cash 1,00,000/- .

 Purchase Furniture 45,000/- .

 Purchase Raw material 50,000/- .

 Sold Raw material 60,000/- .

 Paid salaries 5,000/- .

 Paid rent 2,000/- .

S.No. Ledger name Group Name Amount

1 Sri Ram Capital Account 1,00,000
2 Furniture Fixed Assets 45,000
3 Purchase R/M Purchase Account 50,000
4 Sold R/M Sales Account 60,000
5 Salaries Indirect Expences 5,000
6 Rent “ “ “ 2,000

Reports:-

 Gross Profit = Sales-Purchase-Direct Expences + Closing stock + Direct Income

=60,000-50,000-0+0+0 = 10,000/- .

 Net Profit = gross Profit-Indirect Expences + Indirect Income

=10,000-(5,000+2,000)+0 =3,000/-

 Balance Sheet = Net Profit + Capital Account

=3,000 + 1,00,000 = 1,03,000/-

 Srinivas Started a business with cash 3,00,000/- .

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  Purchase Plants & Machinery 1,00,000/- .

 Purchase Goods 80, 000/- .

 Sold Goods 1,60,000/- .

 Paid salaries 10,000/- .

 Carriage in words 1,000/- .

 Carriage on sales 2,000/-

 Rent received 2,000/-

 Printing & Stationery 1,000/-

 Electrical Charges 1,000/-

 Telephone Bill 1,000/-

 Adds Charges 1,500/-

S.No. Ledger name Group Name Amount

1 Srinivas Capital Account 3,00,000
2 Plants & Machinery Fixed Assets 1,00,000
3 Purchase Goods Purchase Account 80,000
4 Sold Goods Sales Account 1,60,000
5 Salaries Indirect Expences 10,000
6 Carriage in words Direct Expences 1,000
7 Carriage on Sales Indirect Expences 2,000
8 Rent received Indirect Income 2,000
9 Printing & Stationery Indirect Expences 1,000
10 Electrical Charges “ “ “ 1,000
11 Telephone Bill “ “ “ 1,000
12 Adds Charges “ “ “ 1,500

Gross Profit = 1,60,000+80,000-1,000+0+0= 79,000/-

Nett Profit = 79,000-16,500+2,000= 64,500/-

Balance Sheet =64,500 + 3,00,000= 3,64,500/- .

Accounts only in Multiple Ledger
 Laxman Started a Business 5,00,000/-

 Purchase furniture 50,000/-

 Purchase computer 30,000/-

 Purchase raw material 1,50,000/-

 Sold raw material 2,50,000/-

 Paid rent 3,000/-

 Telephone bill 1,000/-

 Carriage on sales 2,000/-

 Carriage in words 1,000/-

 Bad debitors 1,000/-

S.No. Ledger name Group name Amount

1 Laxman & co Capital account 5,00,000/-
2 Furniture Fixed assets 50,000/-
3 Computer “ “ “ 30,000/-
4 Purchase raw material Purchase account 1,50,000/-
5 Sold raw material Sales account 2,50,000/-
6 Rent Indirect expenses 3,000/-
7 Telephone bill “ “ “ 1,000/-
8 Carriage on sales “ “ “ 2,000/-
9 Bad debtors “ “ “ 1,000/-
10 Carriage in words Direct expenses 1,000/-

Gross Profit =(2,50,000 -1,50,000) -1000 =1,00,000-1,000=99,000/-

Net Profit = 99,000-{3,000+1,000+2,000+1,000)=92,000/-

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Balance Sheet = 92,000 + 5,00,000 =5,92,000/-