Question 20 Chapter 3 - Unimax Publications of Class 11

Question 20 Chapter 3 - Unimax

20. Aviral has the following transactions. Use accounting equations to show their his assets, liabilities and capital:
(i) Invested Rs. 45,000 in cash
(ii) Purchased securities for cash Rs. 10,000.
(iii) Purchased a home for Rs. 25,000; giving Rs. 10,000 as cash and balance through loan.
(iv) Sold securities (costing Rs. 2,000) For Rs. 2400
(v) Purchased an old motor-cycle for Rs. 6,500
(vi) Paid salaries Rs. 2,400
(vii) Received cash for dividend on securities Rs. 400
(viii) Paid cash Rs. 3,000 for loan and Rs. 750 for interest
(ix) Paid telephone bill Rs. 350.

The solution of Question 20 Chapter 3 - Unimax:

Transactions	Assets			Liabilities	+ Capital
	Cash	+Investment	+Motor cycle	Loan
(i) Invested Rs. 45,000 in cash	+45,000				+45,000
(ii) Purchased securities for cash	-10,000	+10,000
(iii) Purchased a home for Rs. 25,000; giving Rs. 10,000 as cash and balance through loan.	-10,000			15,000
(iv) Sold securities	+2,400	-2,000			+400
(v) Purchased an old motor-cycle	-6,500		+6,500
(vi) Paid salaries	-2,400				2,400
(vii) Received cash for dividend on securities	+400				400
(viii) Paid cash for loan and interest	-3,750			3000	750
(ix) Paid telephone bill	-350				350
	14,800	+8,000	+6,500	12,000	+17,300
	29,300			29,300

BALANCE SHEET

Liabilities	Amount	Assets	Amount
Loan	12,000	Cash	14,800
Capital	17,300	Investment	8,000
		Motor cycle	6,500
	29,300		29,300

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What is Accounting Equation | Example

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What is the Accounting Equation- In Hindi

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You can also Check out the solved question of other Chapters: -

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 – Introduction of Accounting
• Chapter No. 2 – Theory Base of Accounting
• Chapter No. 3 – Vouchers and Transactions
• Chapter No. 4 – Journal
• Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
• Chapter No. 6 – Ledger
• Chapter No. 7 – Special Purpose Book – Cash Book
• Chapter No. 8 – Other Subsidiary Books
• Chapter No. 9 – Trial Balance
• Chapter No. 10 – Rectification of Errors
• Chapter No. 11 – Depreciation
• Chapter No. 12 – Provision and Reserves
• Chapter No. 13 – Bank Reconciliation Statement
• Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

• Chapter No. 18 – Introduction to Computers and Accounting information System
• Chapter No. 19 – Computerised Accounting
• Chapter No. 20 – Accounting Software : Tally
• Chapter No. 21 – Data Base System
• Chapter No. 22 – Concept of Entity and Relationship

You can also Check out the other Books' Solution: -

• Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
• T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
• D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution