Advertisement

Question No 1 Chapter No 4 – USHA Publication 11 Class

Question No 1 Chapter No 4
Q-1 - CH-4 - USHA +1 Book 2020 - Solution

Advertisement

Question No 1 Chapter No 4

Advertisement

1. Prepare accounting equation on the basis of the following:

  
(i) Sawinder Sigh started the business with cash Rs 2,50,000
(ii)Borrowed cash Rs 40,000 from Bank 
(iii)Telephone bills paid in cash Rs 3,000
(iv)Saleem paid school fees of his son from the business Rs 15,000
(v) Repaid bank loan Rs 30,000
(vi)Purchased goods for cash Rs 22,000
(vii)Repaid the balance of bank loan by borrowing an equal amount from Jodhan.
(viii) Provided interest on capital Rs 5,000

The solution of Question No 1 Chapter No 4: –

S. No. ParticularsAssetsLiabilitiesCapital
Cash +Stock+Bank loan+ Johan
1Sawinder Started Business with cash2,50,0002,50,000
  2,50,0002,50,000
2Borrowed cash from bank+40,000 +40,000
  2,90,000 40,0002,50,000
3Telephone bills paid in cash– 3,000 – 3,000
  2,87,000 40,000+247000
4Paid school fess from business– 15,000– 15,000
  2,72,000 40,0002,32,000
5Paid bank loan– 30,000 -30,000 
  2,42,000 10,0002,32,000
6Purchased goods for cash– 22,000+22,000  
  2,20,000+22,00010,0002,32,000
7Repaid bank loan by borrowing from Jodhan-10,000+10,000

 
  2,20,000+22,00010,0002,32,000
8Provide interest on capital -5,000+5,000

 Total 2,20,000+22,000
+10,000
+2,32,000

Answer: –

Assets = 2,20,000 + 22,000 = 2,42,000/-

Advertisement-X

Liabilities = 10,000/-

Capital = 2,32,000/-

Liabilities  +Capital

10,000 + 2,32,000= 2,42,000/-

What is Accounting Equation | Example

Thanks, Please Like and share with your friends  

Advertisement-X

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Advertisement-X

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Advertisement-X

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Advertisement-X

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

 

Advertisement-Y

Advertisement

Advertisement

error: Content is protected !!