Chapter No. 3 – Vouchers and Transactions – Unimax Publications Class 11 – 2021

In this article, We have provided the Question wise solution of all Questions of Chapter No. 3 – Vouchers and Transactions – Unimax Publications Class 11 – 2021, Vouchers and Transaction are also known as Accouting Equation so first of all, we have explained the meaning of Accounting Equation: – 

What is the Accounting Equation:

Accounting Equation is the basis of the double-entry system of accounting. The double-entry system means every business transaction has two aspects one is the Debit and another is the Credit. Example: – If we want to buy something like coke, pizza or burger we have to pay cash for these items, So in this transaction, we are receiving food and paying cash which means we are doing two jobs, that is why it is called double-entry system.

In the double-entry system, every Debit amount should be equal to the Credit amount Because :
The Business can receive cash or assets from two sources, one from an owner and another is a third party. When it received from an owner this is called Capital and when receiving from third parties then it is called liabilities.

So, in Accounting Equation, Cash or Assets always Equal to Capital and Liabilities of the Business.

“Assets = Liabilities + Capital“

For more Explanation please check out the following link: –

What is Accounting Equation | Example

Check Meaning of Accounting Equation in Hindi from the following link:

What is the Accounting Equation- In Hindi

Chapter No. 3 – Vouchers and Transactions – Unimax Publications Class 11 – 2021 – Solution:

Question wise solution of all Questions of Chapter No. 3 – Vouchers and Transactions – Unimax Publications Class 11 – 2021 – Solution are shown below: –