# Question 17 Chapter 3 of Unimax Publications Class 11

Question 17 Chapter 3 of Unimax Publications Class 11

Question 17 Chapter 3 Unimax

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

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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