Question 5 Chapter 3 - Unimax Publications of Class 11

Question 5 Chapter 3 – Unimax

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The solution of Question 5 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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of 90,000 and a Loan of 45,000 taken from B. During 2020-2021, he had introduced additional capital of 60,000 and had withdrawn Rs. 15,000 for personal use.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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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

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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: –

Question 5 Chapter 3 – Unimax Publications of Class 11

The solution of Question 5 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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