Question 10 Chapter 3 - Unimax Publications of Class 11

Question 10 Chapter 3 – Unimax

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The solution of Question 10 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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(ii) Cash withdrawn from bank for office use Rs. 20,000.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(vi) Cash withdrawn from bank for personal use Rs. 3,000.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(ii) Cash withdrawn from Bank for office use	+20,000	-20,000	0	+ 0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(vi) Cash withdrawn from bank for personal use.	0	-3,000	0	-3,000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

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What is Accounting Equation | Example

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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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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Question 10 Chapter 3 – Unimax Publications of Class 11

The solution of Question 10 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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