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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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