Question 26 Chapter 3 – Unimax Publications of Class 11

Q-26- CH-3 Solution

Question 26 Chapter 3 – Unimax

Free Accounting book Solution - Class 11 and Class 12

26. Present the following transactions in the Accounting Equation:

1. Ram started business with cash Rs. 25,000 and cheque of Rs. 25,000 to open a Bank Account  
2. Purchased goods on credit 4,000
3. Purchased goods for cash 1,000
4. Purchased furniture for cash 500
5. Withdrew cash for private use from Bank 700
6. Paid rent 200
7. Received interest from Bank 100
8 Sold goods on credit ( cost Rs. 500) 700
9 Paid to creditor 400
10. Paid Petty Expenses 200

The solution of Question 26 Chapter 3 – Unimax:

Transactions Assets Liabilities  +Capital
  Cash +Bank +Stock +Furniture +Debtors
Creditors  
(i) Ram started business with cash and cheque +25,000 +25,000         +50,000
(ii) Purchased goods as credit +0 +0 +4,000     +4,000 +0
(iii) Purchased good for cash -1,000 +0 +1,000     +0 +0
(iv) Purchased furniture for cash -500 +0 +0 +500   +0 +0
(v) Withdrew Cash for private use from bank +0 -700 +0 +0   +0 -700
(vi) Paid rent -200 +0 +0 +0   +0 -200
(vii) Received cash for int. from bank +0 +100 +0 +0   +0 +100
(viii) Sold goods on credit(500) +0 +0 -500 +0 +700 +0 +200
(ix) Paid to creditors -400 +0 +0 +0 +0 -400 +0
(x) Paid Petty Express -200 +0 +0 +0 +0 +0 -200
               
  22,700 +24,400 +4,500 +500 +700 +3,600 +49,200
  52,800 52,800

BALANCE SHEET

Liabilities Amount Assets Amount
Creditors 3,600 Cash 22,700
Capital 49,200 Bank 24,400
    Stock 4,500
    Furniture 500
    Debtors 700
       
  52,800   52,800

This is all about the Question 26 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

You can also Check out the other Books’ Solution: –

 

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