Question 21 Chapter 3 - Unimax Publications of Class 11

Question 21 Chapter 3 – Unimax

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The solution of Question 21 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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

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What is Accounting Equation | Example

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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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 21 Chapter 3 – Unimax Publications of Class 11

The solution of Question 21 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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