Question 20 Chapter 3 - Unimax Publications of Class 11

Question 20 Chapter 3 – Unimax

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The solution of Question 20 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

20. Aviral has the following transactions. Use accounting equations to show their his assets, liabilities and capital:
(i) Invested Rs. 45,000 in cash
(ii) Purchased securities for cash Rs. 10,000.
(iii) Purchased a home for Rs. 25,000; giving Rs. 10,000 as cash and balance through loan.
(iv) Sold securities (costing Rs. 2,000) For Rs. 2400
(v) Purchased an old motor-cycle for Rs. 6,500
(vi) Paid salaries Rs. 2,400
(vii) Received cash for dividend on securities Rs. 400
(viii) Paid cash Rs. 3,000 for loan and Rs. 750 for interest
(ix) Paid telephone bill Rs. 350.

The solution of Question 20 Chapter 3 – Unimax:

Transactions	Assets			Liabilities	+ Capital
	Cash	+Investment	+Motor cycle	Loan
(i) Invested Rs. 45,000 in cash	+45,000				+75,000
(ii) Purchased securities for cash	-10,000	+10,000
(iii) Purchased a home for Rs. 25,000; giving Rs. 10,000 as cash and balance through loan.	-10,000			15,000
(iv) Sold securities	+2,400	-2,000			+400
(v) Purchased an old motor-cycle	-6,500		+6,500
(vi) Paid salaries	-2,400				2,400
(vii) Received cash for dividend on securities	+400				400
(viii) Paid cash for loan and interest	-3,750			3000	750
(ix) Paid telephone bill	-350				350

	14,800	+8,000	+6,500	12,000	+17,300
	29,300			29,300

BALANCE SHEET

Liabilities	Amount	Assets	Amount
Loan	12,000	Cash	14,800
Capital	17,300	Investment	8,000
		Motor cycle	6,500

	29,300		29,300

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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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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Question 20 Chapter 3 – Unimax Publications of Class 11

The solution of Question 20 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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