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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 3 Chapter No 4
3. Prove that the accounting equation is satisfied in all the following transaction of Suresh and prepare balance sheet at the end :
| (i) | Commenced business with cash Rs 80,000 and bank balance Rs 40,000 |
| (ii) | Cash is withdrawn from bank for office use Rs 15,000 |
| (iii) | Interest bill paid in cash Rs 9,000 |
| (iv) | Commission received by cheque Rs 21,000 |
| (v) | Cash is withdrawn from the bank for personal use Rs 11,000 |
| (vi) | Additional capital introduced Rs 24,000 |
| (vii) | Charged interest on drawings Rs 2,000 |
| S. No. | Particulars | Assets | Liabilities | Capital | ||
|---|---|---|---|---|---|---|
| Cash | +Bank | |||||
| 1 | Commenced business with cash and bank | 80,000 | +40,000 | - | - | 1,20,000 |
| 80,000 | +40,000 | - | - | 1,20,000 | ||
| 2 | Cash is withdrawn from bank for office use | + 15,000 | - 15,000 | - | - | - |
| 95,000 | +25,000 | - | - | 1,20,000 | ||
| 3 | Internet bill paid in cash | - 9,000 | - | - | - 9,000 | |
| 86,000 | +25,000 | - | 1,11,000 | |||
| 4 | Commission received by cheque | - | +21,000 | - | - | + 21,000 |
| 86,000 | +46,000 | + | 1,32,000 | |||
| 5 | Cash is withdrawn from bank for personal use | - | - 11,000 | - | - | - 11,000 |
| 86,000 | +35,000 | 1,21,000 | ||||
| 6 | Additional capital introduced | + 24,000 | + 24,000 | |||
| 1,10,000 | +35,000 | 1,45,000 | ||||
| 7 | Charged interest on drawing | - | - | -2,000+2,000 |
||
| Total | 1,10,000 | +35,000 |
- | - |
+1,45,000 |
|
Answer: -
Assets = 1,10,000+ 35,000 = 1,45,000/-
Capital = 1,45,000/-
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Also, Check out the solved question of all Chapters: –
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question No 3 Chapter No 4 - USHA Publication 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +1 Elements of Book-Keeping.
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