Question 12 Chapter 3 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 6 Min Read May 12, 2022
Q-12- CH-3 Solution
Q-12- CH-3 Solution

Question 12 Chapter 3 – Unimax

12. Show the accounting equation on the basis of following transaction.
(i)  Commenced business with cash 2,00,000.
(ii) Purchase goods from Rohit Rs. 20,000.
(iii) Purchase a home for Rs. 25,000; giving cash and balance through
(iv) Sold goods to amrita Rs. 15,000.
(v) Bad debts write off RS. 4,000.
(vi) Cash received Rs. 10,500 from Debtor for full settlement of his account.
(vii) Bad debts recovered Rs. 2,500.
(viii) Cash paid to creditor Rs. 19,200 for full settlement of his account.
(ix) Paid cash Rs. 4,000 for loan & Rs. 500 for interest.

The solution of Question 12 Chapter 3 – Unimax:

Transactions Assets = Liabilities 
 + Capital
  Cash +Stock + Debtors  Creditors + Loan  
(i) Commenced business with cash +2,00,000         +2,00,000
(ii) Purchase goods from Rohit Rs. 20,000 0 + 20,000   +20,000   +0
(iii) Purchase a home for Rs. 25,000; giving cash and balance through -15,000 +0     +10,000 -25,000
(iv) Sold goods to amrita Rs. 15,000 +0 -15,000 +15,000 +0 +0 +0
(v) Bad debts write off RS. 4,000 +0 +0 -4,000 +0 +0 -4,000
(vi) Cash received Rs. 10,500 from Debtor for full settlement of his account +10,500 +0 -11,000 +0 +0 -500
(vii) Bad debts recovered Rs. 2,500. +2,500 +0 -0 +0 +0 +2,500
viii) Cash paid to creditor Rs. 19,200 for full settlement of his account. -19,200 +0 -0 -20,000 +0 +800
(ix) Paid cash Rs. 4,000 for loan & Rs. 500 for interest. +4,500 +0 -0 +0 -4,000 -500
             
  1,74,300 +5,000 +0 0 +6,000 + 1,73,300
  1,79,300
 1,79,300

This is all about the Question 12 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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