Statement of Affairs and Statement of Profit & Loss with Adjustments | Single Entry System Class 11 скачать в хорошем качестве

Statement of Affairs and Statement of Profit & Loss with Adjustments | Single Entry System Class 11

Understand how to make Statement of Affairs and Statement of Profit & Loss in Single Entry System or Incomplete Records. Preparation of Statement of Affairs It is a statement that shows all the assets on one side and all the liabilities on the other side. It is similar to the Balance Sheet. With the help of this statement, we find the capital employed which is the difference between the assets and liabilities. We prepare the Statement of Affairs at the beginning of the year to ascertain the opening capital and at the end of the year to ascertain the closing capital. However, the items of assets and liabilities are ascertained from vouchers, physical count and other relevant documents. Preparation of Statement of Profit or Loss After ascertaining the opening and closing capital with the help of the Statement of Affairs, the next step is to prepare the Statement of Profit and Loss. The adjustments relating to the additional capital and drawings during the year are required to be made for the ascertainment of Profit and Loss. . . . . . . 👍 Keep learning and keep growing with us!! ✅ If you like this video , please Like , Comment , Share & Subscribe our Channel Also Join our telegram channels: ✅ Class 11 Accounts by CA Manish Mahajan: https://t.me/class11accountsbycamanish ✅ Class 11 Economics by CA Manish Mahajan: https://t.me/class11economicsbycamanish ✅ Class 12 Accounts by CA Manish Mahajan: https://t.me/class12accountsbycamanish ✅ Class 12 Economics by CA Manish Mahajan: https://t.me/class12economicsbycamanish ✅ This channel helps you understand the concepts related to : Class 11 Accountancy; Class 11 Economics; Class 12 Accountancy; Class 12 Economics; CA and CS Foundation basics . . . . CA Manish Mahajan is a first class commerce graduate from Panjab University, having done his graduation in B.Com (Finance Hons.) from GGDSD College, Chandigarh. He qualified Chartered Accountancy course in 2010 and was placed in merit list (31st All India Rank in Final and 22nd All India Rank in Foundation). He possesses a vast experience of more than 18 Years in teaching Accountancy, Economics and Mathematics to the students of Classes +1 and+2 and also mentored the students of B.Com and CA. He has authored the books on Accountancy, Economics and Indirect Tax Laws. His unique lecture delivery and practical method of teaching, helps the student to easily grasp and remember the subject. This Channel provides all the educational content for the students of class 11 and class 12 for subjects Accounts and Economics. Here you get regular & organized content for complete course study. You can Contact / WhatsApp us on the following numbers for further assistance: CA Manish Mahajan : ☎️ 7888695588, Concepts Commerce Academy Email: [email protected] Our website: https://conceptsacademy.in/ Like us on Facebook -   / conceptscommerceacademy   Follow us on Instagram -   / conceptscommerceacademy   Download our mobile learning App - https://play.google.com/store/apps/de... #singleentrysystem #incompleterecords #statementofaffairs #statementofprofitandloss #class11 #accounts