Question No 2 Chapter No 4 – USHA Publication 11 Class

Question No 2 Chapter No 4

Question No 2 Chapter No 4

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

(i)  Harmanjit  started the business with cash of Rs 2,00,000
(ii) Furniture purchased for cash Rs 20,000
(iii) Rent paid in  cash Rs 2,000
(iv) Purchased goods on credit Rs 30,000
(v)  Sold goods (cost price Rs 20,000) for cash in cash 

The solution of Question No 2 Chapter No 4: –

S. No.  Particulars Assets Liabilities Capital
Cash  + Furniture +stock +Bank loan+ Johan
1 Harmanjit Started Business with cash 2,00,000 2,00,000
    2,00,000 2,00,000
2 Furniture purchased for cash -20,000 + 20,000
    1,80,000 + 20,000 2,00,000
3 Rent paid in cash –  2,000   + – 2,000
    1,78,000 + 20,000   1,98,000
4 Purchased goods on credit – 15,000 +30,000 +30,000  
    2,72,000 + 20,000 +30,000 30,000 1,98,000
5 Sold goods on profit + 25,000   – 20,000 + 5,000
  Total  2,03,000 +20,000
+10,000 +30,000
+2,03,000

Answer: –

Assets = 2,03,000 + 20,000 + 10,000 = 2,33,000/-

Liabilities = 30,000/-

Capital = 2,03,000/-

Liabilities  +Capital

30,000 + 2,03,000= 2,33,000/-

What is Accounting Equation | Example

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

 

 

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