Question No 12 Chapter No 4

Question No 12 Chapter No 4

12. Supriya had the following transaction. Use accounting to show their effect on his assets, liabilities and capital.

  
(a) Brought Rs 45,000 in cash to start a business.
(b)Purchased shares for cash Rs 22,500.
(c)Purchased office equipment for Rs 45,000, giving Rs 15,000 in cash and the balance through a loan 
(d)Sold share coating Rs 3,000 for Rs 4,500
(e) Purchased one printer for Rs 8,400in cash 
(f)Received cash for rent Rs 10,800
(g)Paid cash Rs 10,000 for a loan and Rs 900 for interest. 
(h)Received cash for property let out Rs 600

 

 

The solution of Question No 12 Chapter No 4: –

 

S. No. ParticularsAssets


 LiabilitiesCapital
Cash + Investment +office equ.
+printerCreditor
aCommenced business with cash45,000  45,000
  45,000  45,000
bPurchase shares for cash-22,500– 22,500  
  22,500+22,500  45,000
cOffice equipment purchased on cash and credit-15,000 +45,000 30,000
  7,500+ 22,500+45,000 30,00045,000
dSold share on profit+4,500-3,000   +1,500
  12,000+ 19,500+45,000 30,00046,500
ePurchased printer on cash-8,400  +8,400  
  3,600+ 19,500+45,000+ 8,40030,00046,500
fReceived cash from rent+10,800    +10,800
  14,400+ 19,500+45,000+ 8,40030,00057,300
gPaid cash for loan and interest Paid-10,900   -10,000-900
  3,500+ 19,500+45,000+ 8,40020,00056,400
hCash received for property let out600    +600
 Total 4,100+ 19,500+45,000+ 8,40020,00057,000


Answer: –

Assets =
4,100 + 19,500 + 45,000 + 8,400 + = 77,000/-

Capital = 57,000/-

Liabilities = 20,000/-

Liabilities  +Capital

20,000+ 57,000= 77,000/-

 

What is Accounting Equation | Example

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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)

 

 

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