Question No 30 Chapter No 4
30. Prepare proprietor’s Capital account from the following transaction :
| 2018 | |
| Apr. 1 | Commenced business with cash Rs 1,10,000 |
| Jun. 12 | Withdrew from the business for personal use Rs 30,000 |
| Aug. 15 | Introduced fresh capital RS 20,000 |
| Oct. 28 | Sold personal refrigerator for Rs 28,000 and amount introduced in the business |
| 2019 | |
| Jan. 10 | Paid life insurance premium Rs 15,000 |
| Mar. 31 | Profit for the year Rs 32,000 |
The solution of Question No 30 Chapter No 4: –
| Dr. | Cr. | ||||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | |||||||
| Jun. 12 | To Drawing A/c | 80,000 | Apr. 1 | By Cash A/c | 1,10,000 | ||
| Aug. 15 | By Cash A/c | 20,000 | |||||
| 2019 | Mar. 31 | By Cash A/c | 28,000 | ||||
| Jan. 10 | Paid life insurance premium | 15,000 | |||||
| Capital Account Balance | 1,45,000 | ||||||
| 1,90,000 | 1,90,000 | ||||||
What is Accounting Equation | Example
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
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Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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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)