Question 8 Chapter 3 - Unimax Publications of Class 11

Question 8 Chapter 3 – Unimax

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The solution of Question 8 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

8. Prepare accounting equation on the basis of the following:
(i) Sahil started business with cash Rs. 20,000
(ii) Sahil purchased machinery for cash Rs. 4,000
(iii) Sahil paid rent Rs. 500
(iv) Sahil purchased goods on credit Rs. 5,000
(v) Sahil sold goods (cost price Rs. 3,500) for Rs. 6,200 on cash.

The solution of Question 8 Chapter 3 – Unimax:

Transactions	Assets			=Liabilities	+ Capital
	Cash	+ Machinery	+ Stock	Creditors
(i) Sahil started business with cash	+20,000				+20,000
(ii) Purchased Machinery for cash.	-4,000	+ 4,000			+0
(iii) Paid rent	-500			+0	-500
(iv) Purchased goods on credit	+0		+5,000	+5,000	+0
(v) Sahil sold goods on cash	+6,200		-3,500	+0	+2,700

	21,700	+4,000	+1,500	5,000	+22,200
	27,200			27,200

BALANCE SHEET

Liabilities	Amount	Assets	Amount
Creditors	22,200	Cash	21,700
Capital	5,000	Stock	4,000
		Machinery	1,500

	27,200		27,200

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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 8 Chapter 3 – Unimax Publications of Class 11

The solution of Question 8 Chapter 3 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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