# Question No 11 Chapter No 4 – USHA Publication 11 Class

Question No 11 Chapter No 4

11. Show the accounting equation on the basis of the following transaction:

 Rs (i) Mukesh started the business with cash 80,000 (ii) Purchased goods from Ravi 20,000 (iii) Goods costing Rs 10,000 sold to Ramesh for 15,000 (iv) Withdrew Rs 4,000 for personal expenses (v) Paid to creditor 12,500 (vi) Received from  debtors Rs 6,000 and discount allowed 500 (vii) Received commission 2,500

### The solution of Question No 11 Chapter No 4: –

 S. No. Particulars Assets Liabilities Capital Cash +Stock +Debtors Creditor 1 Commenced business with cash, Stock and furniture 80,000 – – 80,000 80,000 – – 80,000 2 Purchase goods on credit +20,000 20,000 – 80,000 +20,000 20,000 80,000 3 Sold goods on credit at profit -10,000 +15,000 – +5,000 80,000 +10,000 + 15,000 20,000 85,000 4 Withdrew cash for personal expenses -4,000 -4,000 76,000 +10,000 + 15,000 20,000 81,000 5 Paid to creditor -12,500 -12,500 63,500 +10,000 + 15,000 7,500 81,000 6 Received cash from debtors allowed him discount +6,000 -6,500 -500 69,500 +10,000 + 8,500 7,500 80,500 7 Sold goods on credit at profit +2,500 – +,2500 Total 72,000 +10,000 +8,500 7,500 83,000

Assets =
72,000 + 10,000 + 8,500 = 90,500/-

Capital = 83,000/-

Liabilities = 7,500/-

Liabilities  +Capital

7,500+ 83,000= 90,500/-

What is Accounting Equation | Example

Thanks, Please Like and share with your friends

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

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

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

Chapter No. 16 – Rectification of Errors

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

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