Question 13 Chapter 3 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 6 Min Read May 12, 2022
Q-13- CH-3 Solution
Q-13- CH-3 Solution

Question 13 Chapter 3 – Unimax

13. Prepare accounting equation on the basis of following transaction.
(i) Anant started business with cash Rs. 2,00,000 and Furniture Rs. 50,000.
(ii) Purchase goods Rs. 50,000 on credit.
(iii) Sold goods for Rs. 40,000 (Costing Rs. 35,000) on credit.
(iv) Return goods to supplier Rs. 10,000.
(v) Goods returned by a customer cost Rs. 3,500.
(vi) Salary due but not paid Rs. 4,000.
(vii) Insurance paid for next year Rs. 6,000.
(viii) Commission earned but not received Rs. 78,000.
(ix) Rent Received for next year Rs. 7,000.

The solution of Question 13 Chapter 3 – Unimax:

Transactions Assets Liabilities 
 + Capital
  Cash +Furniture +Stock +Debtors +Prepaid +Accrued Commission +Creditors +outstanding +unearned rent  
(i) Anant started business with cash Rs. 2,00,000 and Furniture Rs. 50,000. +2,00,000 + 50,000               +2,50,000
(ii) Purchase goods Rs. 50,000 on credit. 0 +0 +50,000       50,000     +0
(iii) Sold goods for Rs. 40,000 (Costing Rs. 35,000) on credit. +0 +0 -35,000 +40,000           +5,000
(iv) Return goods to supplier Rs. 10,000. +0 +0 -10,000 +0     -10,000     +0
(v) Goods returned by a customer cost Rs. 3,500 +0 +0 +3,500 -4,000     +0     -500
(vi) Salary due but not paid Rs. 4,000. +0 +0 +0 +0     +0 +4,000   -4,000
(vii) Insurance paid for next year Rs. 6,000 -6,000 +0 +0 +0 +6,000   +0 +0   +0
(viii) Commission earned but not received Rs. 78,000 +0 +0 +0 +0 +0 +8,000 0 +0   +8,000
(ix) Rent Received for next year Rs. 7,000 +7,000 +0 +0 +0 +0 -0 +0   +7,000 +0
                     
  2,01,000 50,000 8,500 36,000 6,000 8,000 40,000 4,000 7,000 2,58,500
  3,09,500
 3,09,500

This is all about the Question 13 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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