Question 12 Chapter 3 – Unimax Publications of Class 11

Question 12 Chapter 3 – Unimax Publications of Class 11

12. Show the accounting equation on the basis of following transaction.
(i)  Commenced business with cash 2,00,000.
(ii) Purchase goods from Rohit Rs. 20,000.
(iii) Purchase a home for Rs. 25,000; giving cash and balance through
(iv) Sold goods to amrita Rs. 15,000.
(v) Bad debts write off RS. 4,000.
(vi) Cash received Rs. 10,500 from Debtor for full settlement of his account.
(vii) Bad debts recovered Rs. 2,500.
(viii) Cash paid to creditor Rs. 19,200 for full settlement of his account.
(ix) Paid cash Rs. 4,000 for loan & Rs. 500 for interest.

The solution of Question 12 Chapter 3 – Unimax Publications of Class 11:

Transactions	Assets			= Liabilities		+ Capital
	Cash	+Stock	+ Debtors	Creditors	+ Loan
(i) Commenced business with cash	+2,00,000					+2,00,000
(ii) Purchase goods from Rohit Rs. 20,000	0	+ 20,000		+20,000		+0
(iii) Purchase a home for Rs. 25,000; giving cash and balance through	-15,000	+0			+10,000	-25,000
(iv) Sold goods to amrita Rs. 15,000	+0	-15,000	+15,000	+0	+0	+0
(v) Bad debts write off RS. 4,000	+0	+0	-4,000	+0	+0	-4,000
(vi) Cash received Rs. 10,500 from Debtor for full settlement of his account	+10,500	+0	-11,000	+0	+0	-500
(vii) Bad debts recovered Rs. 2,500.	+2,500	+0	-0	+0	+0	+2,500
viii) Cash paid to creditor Rs. 19,200 for full settlement of his account.	-19,200	+0	-0	-20,000	+0	+800
(ix) Paid cash Rs. 4,000 for loan & Rs. 500 for interest.	-4,500	+0	-0	+0	-4,000	-500
	1,74,300	+5,000	+0	0	+6,000	+ 1,73,300
	1,79,300			1,79,300