Question 20 Chapter 3 – Unimax Publications of Class 11

Q-20- CH-3 Solution

Question 20 Chapter 3 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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

This is all about the Question 20 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

  • 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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