Question 11 Chapter 3 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 5 Min Read May 12, 2022
Q-11- CH-3 Solution
Q-11- CH-3 Solution

Question 11 Chapter 3 – Unimax

11. Prepare accounting equation on the basis of following transaction.
(i) Started business with cash Rs. 1,00,000 and furniture Rs. 50,000.
(ii) Purchase goods for cash Rs. 25,000 and credit Rs. 20,000.
(iii) Deposit cash into bank Rs. 10,000.
(iv) Bought motor-cycle for personal use Rs. 10,000.
(v) Withdrew cash for private use Rs. 2,500.
(vi) Withdrew cash for office use Rs. 4,000.
(vii) Depreciation on furniture @ 10%.

The solution of Question 11 Chapter 3 – Unimax:

Transactions Assets Liabilities  + Capital
  Cash + Furniture + Stock +Bank    
(i) Started business with cash Rs. 1,00,000 and Furniture Rs. 50,000 +1,00,000 + 50,000     0 +1,50,000
(ii) Purchase goods for cash Rs. 20,000 & credit Rs. 20,000 -25,000 +0 + 45,000   20,000 + 0
(iii) Deposit Cash into Bank Rs. 10,000 -10,000 +0 +0 +10,000 +0 +0
(iv) Bought motor-cycle for personal use Rs. 10,000 -10,000 +0 +0 0 0 -10,000
(v) Withdraw cash for private use Rs. 2,500 -2,500 +0 +0 +0 +0 -2,500
(vi) Withdraw cash for office use 4,000 +4,000 +0 +0 -4,000 +0 +0
(vii) Depreciation on furniture @ 10% 0 -5,000 +0 -0 0 -5,000
             
  56,500 +45,000 +45,000 +6,000 20,000 + 1,32,500
  1,52,500 1,52,500

This is all about the Question 11 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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You can also Check out the solved question of other Chapters: –

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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