Question 5 Chapter 3 – Unimax Publications of Class 11

Q-5- CH-3 Solution

Question 5 Chapter 3 – Unimax

Free Accounting book Solution - Class 11 and Class 12

5. Manmeet started a business on 1 April, 2020 with a capital of 90,000 and a Loan of 45,000 taken from B. During 2020-2021, he had introduced additional capital of 60,000 and had withdrawn Rs. 15,000 for personal use. On 31″ March, 2021 his assets were Rs. 2,40,000. Find his capital as on 31 March, 2021 and profit made or loss incurred during the year 2020-2021.

The solution of Question 5 Chapter 3 – Unimax:

Closing Capital =Closing Assets-Closing Liabilities
  = 2,40,000-45,000
  = 1,95,000
   
Profit = Closing Capital + Drawing – Additional Capital – Opening Capital
  =1,95,000+15,000-60,000-90,000
  = 60,000

This is all about the Question 5 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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