Question 8 Chapter 3 – Unimax Publications of Class 11

Q-8- CH-3 Solution

Question 8 Chapter 3 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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

This is all about the Question 8 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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