Accounting from...

Profit = Capital at the end+______- Capital introduced - Capital in the beginning.

The capital in the beginning of the accounting year is ascertained by preparing ______.

Trading and Profit and Loss Account cannot be prepared from books maintained on single entry basis because :

A person started a business with capital of $$50,000$$ and he takes loan from his relative Rs. $$5,000$$. Profit for the year is Rs. $$10,000$$ and drawings Rs. $$9,000$$. What will be the amount of closing capital?

Opening balance of debtors is Rs. $$35,000$$ cash received from Debtors is Rs. $$30,000$$ cash sales Rs. $$20,000$$ which is $$20\%$$ of total sales. B/R Received for Rs. $$40,000$$ and discount allowed is $$1\%$$ of cash collection. Find the net debtor balance.

Profit, under Single Entry System is ascertained ____________ .

If opening capital is $$Rs.80,000$$, closing capital is $$Rs.1,80,000$$, withdrawals are $$Rs.10,000$$ and additional capital brought in the business is Rs. $$20,000$$, then the profit will be________.

A statement similar to balance sheet prepared to find out the amount of opening capital is ___________.

To ascertain the profit, closing capital is to be adjusted by deducting ________ and adding _________.

Further capital introduced during the year is ____________ from closing capital in order to find out the correct profit.