Question 10 Chapter 3 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 5 Min Read May 12, 2022
Q-10- CH-3 Solution
Q-10- CH-3 Solution

Question 10 Chapter 3 – Unimax

10. Prove that the accounting equation is satisfied in all the following transactions Sandeep and Prepare Balance Sheet at end.
(i)Commenced business with cash Rs. 1,80,000 and Bank Balance Rs. 60,000.
(ii) Cash withdrawn from bank for office use Rs. 20,000.
(iii) Internet bill paid in cash Rs. 10,000.
(iv) Provide interest on capital Rs. 5,000.
(v) Commission received by cheque Rs. 20,000.
(vi) Cash withdrawn from bank for personal use Rs. 3,000.
(vii) Additional Capital introduced Rs. 20,000.
(viii) Charged interest on drawings Rs. 4,000.

The solution of Question 10 Chapter 3 – Unimax:

Transactions Assets = Liabilities  + Capital
  Cash +Bank    
(i) Commenced business with cash & bank +1,80,000 +60,000 0 +2,40,000
(ii) Cash withdrawn from Bank for office use +20,000 -20,000 0 + 0
(iii) Internet bill paid in cash -10,000 +0 0 -10,000
(iv) Provide interest on capital 0 +0 0 +5,000
(v) Commission received by cheque 0 +20,000 0 +20,000
(vi) Cash withdrawn from bank for personal use. 0 -3,000 0 -3,000
(vii) Additional capital introduced +20,000 +0 0 +20,000
(viii) Charged interest on drawings 0 +0 0 -4,000
         
  2,10,000 +57,000 0 2,67,000
  2,67,000 2,67,000

BALANCE SHEET

Liabilities Amount Assets Amount
Capital 2,67,000 Cash 2,10,000
    Bank 57,000
       
       
  2,67,000   2,67,000

This is all about the Question 10 Chapter 3 – Unimax. You can check out the following article to better understand:

What is Accounting Equation | Example

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What is the Accounting Equation- In Hindi

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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 Reconlciliation 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 Compurters 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

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