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Question No 2 Chapter No 4 – USHA Publication 11 Class

Question No 2 Chapter No 4
Q-2 - CH-4 - USHA +1 Book 2020 - Solution

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Question No 2 Chapter No 4

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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. ParticularsAssetsLiabilitiesCapital
Cash + Furniture +stock+Bank loan+ Johan
1Harmanjit Started Business with cash2,00,0002,00,000
  2,00,0002,00,000
2Furniture purchased for cash-20,000+ 20,000
  1,80,000+ 20,0002,00,000
3Rent paid in cash–  2,000 +– 2,000
  1,78,000+ 20,000 1,98,000
4Purchased goods on credit +30,000+30,000 
  1,78,000+ 20,000+30,00030,0001,98,000
5Sold 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/-

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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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