Question 17 Chapter 3 of Unimax Publications Class 11

Question 17 Chapter 3 Unimax

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The solution of Question 17 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

17. Prepare the accounting equation from the following:
(i) Commenced business with cash Rs. 8,00,000.
(ii) Purchased goods from other state worth Rs. 40,000 plus IGST 12%.
(iii) Purchased goods worth Rs. 60,000 plus CGST 6% and SGST 6% from Simran.
(iv) Sold goods costing Rs. 40,000 for Rs. 50,000 plus CGST 6% and SGST 6%.
(v) Paid Salaries Rs. 30,000.
(vi) Purchased Car for the business Rs. 4,00,000 plus CGST 14% and SGST 14%.
(vii) Sold goods in other state costing Rs. 20,000 for Rs. 28,000 plus IGST 12%.
(viii) Paid Electricity bill Rs. 7,000.

The solution of Question 17 Chapter 3 – Unimax:

Transactions	Assets						Liabilities				+ Capital
	Cash	+Stock	+Input CGST	+Input SGST	+Input IGST	+car	Creditor	+Output CGST	+Output SGST	+Output IGST
1. started business with cash 8,00,000 .	8,00,000										8,00,000
2. goods from other state worth Rs. 40,000 plus IGST 12%	44,800	40,000			4,800
3. goods worth Rs. 60,000 plus CGST 6% and SGST 6% from Simran		60,000	3,600	3,600			67,200
4. Sold goods costing Rs. 40,000 for Rs. 50,000 plus CGST 6% and SGST 6%	56,000	40,000						3,000	3,000		10,000
5. Paid Salaries Rs. 30,000.	30,000										30,000
6. Purchased Car for the business Rs. 4,00,000 plus CGST 14% and SGST 14%	5,12,000					5,12,000
7. Sold goods in other state costing Rs. 20,000 for Rs. 28,000 plus IGST 12%	31,360	20,000								3,360	8,000
8. Paid Electricity bill Rs. 7,000	7.000										7.000

	2,93,560	40,000	3,600	3,600	4,800	5,12,000	67,200	3,000	3,000	3,360	7,81,000
	8,57,560						8,57,560

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What is Accounting Equation | Example

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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

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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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The solution of Question 17 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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