Question 21 Chapter 3 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 6 Min Read May 14, 2022
Q-21- CH-3 Solution
Q-21- CH-3 Solution

Question 21 Chapter 3 – Unimax

21. Show the accounting equation on the basis of following transactions:
(i) Anant started business with Cash Rs. 80,000 and Stock Rs. 20,000 and Machine Rs. 45,000
(ii) Goods purchased Rs. 20,000 on credit.
(iii) Goods costing Rs. 10,000 sold for Rs. 15,000 on credit.
(iv) Purchased goods on cash Rs. 10,000.
(v) Depreciate Machine by Rs. 2,000.
(vi) Bad debts write off Rs. 4,000.
(vii) Cash received Rs. 9,500 from customer and allowed him discount Rs. 500.
(viii) Bad debts recovered Rs. 1,000.
(ix) Cash paid to creditors Rs. 19,600 for full settlement of his account.

The solution of Question 21 Chapter 3 – Unimax:

Transactions Assets Liabilities 
 + Capital
  Cash +Stock +Machinery +Debtors Creditors  
(i) Anant started business with Cash and Stock and Machine +80,000 +20,000 -45,000     +1,45,000
(ii) Goods purchased on credit. +0 +20,000 +0   +20,000 +0
(iii) Goods costing Rs. 10,000 sold for Rs. 15,000 on credit. +0 -10,000 +0 +15,000 +0 +5,000
(iv) Purchased goods on cash -10,000 +10,000 +0 +0 +0 +0
(v) Depreciate Machine +0 +0 -2,000 +0 +0 -2,000
(vi) Bad debts write off +0 +0 +0 -4,000 +0 -4,000
(vii) Cash received Rs. 9,500 from customer and allowed him discount +9,500 +0 +0 -10,000 +0 -500
(viii) Bad debts recovered +1,000 +0 +0 +0 +0 +1,000
(ix) Cash paid to creditors for full settlement of his +19,600 +0 +0 +0 -20,000 +400
             
  60,900 +40,000 +43,000 +1,000 +0 +1,44,900
  1,44,900 1,44,900

BALANCE SHEET

Liabilities Amount Assets Amount
Creditors 0 Cash 60,900
Capital 1,44,900 Stock 40,000
    Machinery 43,000
    Debtors 1,000
       
  1,44,900   1,44,900

This is all about the Question 21 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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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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