# Question 7 Chapter 3 – Unimax Publications of Class 11

Question 7 Chapter 3 – Unimax

7. Prepare the accounting equations on the basis of following transactions:
(i) X commenced business with cash Rs. 1,00,000.
(ii) Purchased goods on credit Rs. 20,000
(iii) Cash deposited into bank Rs. 10,000
(iv) Sold goods on credit Rs. 20,000
(v) Purchased machinery Rs. 7,500

## The solution of Question 7 Chapter 3 – Unimax:

 Transactions Assets =Liabilities + Capital Cash +Stock + Bank + Debtors + Machinery Creditors (i) Commenced business with cash +1,00,000 +1,00,000 (ii) Purchased goods on credit 0 + 20,000 20,000 +0 (iii) Cash deposited into bank -10,000 +0 +10,000 +0 +0 (iv) Sold goods on credit +0 -20,000 +0 +20,000 +0 +0 (v) Purchased Machinery -7,500 +0 +0 +0 +7,500 +0 +0 82,500 +0 +10,000 +20,000 +7,500 20,000 + 1,00,000 1,20,000 1,20,000

BALANCE SHEET

 Liabilities Amount Assets Amount Creditors 20,000 Cash 82,500 Capital 1,00,000 Stock 0 Bank 10,000 Debtors 20,000 Machinery 7,500 1,20,000 1,20,000

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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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