# Question No 7 Chapter No 4 – USHA Publication 11 Class

Question No 7 Chapter No 4

7. Show the following transaction on the accounting equation:

 (i) Bhupinder commenced business with cash Rs 65,000 and stock Rs 35,000 (ii) Purchased goods on credit Rs 14,000 (iii) Sold goods (costing Rs 15,500) for Rs 12,500on credit (iv) Returned goods to supplier Rs 4,000 (v) Cash paid to Supplier Rs 5,500 (vi) Goods returned by a customer Rs 3,000 (cost Rs 2,800) (vii) Cash received from a customer Rs 4,500

## The solution of Question No 7 Chapter No 4: –

 S. No. Particulars Assets Liabilities Capital Cash +Stock + Debtors Creditor 1 Commenced business with cash and Stock 65,000 +35,000 – – 1,00,000 65,000 +35,000 – – 1,00,000 2 Purchased goods on credit + 14,000 – 14,000 65,000 +49,000 – 14,000 1,00,000 3 Sold goods on credit at a loss – – 15,500 + 12,500 – -3,000 65,000 +33,500 + 12,500 14,000 97,000 4 Returned goods to supplier – – 4,000 – – 4,000 – 65,000 +29,500 + 12,500 10,000 97,000 5 Interest received – 5,500 – – – 5,500 – 59,500 +29,500 + 12,500 4,500 97,000 6 Goods return by customer +2,800 -3,000 -200 59,500 +32,300 + 9,500 4,500 96,800 7 Cash received from customer +4,500 -4,500 – Total 64,000 +32,300 + 5,000 4,500 96,800

Assets = 64,000 + 32,300 + 5,000 = 1,01,300/-

Capital = 96,800/-

Liabilities = 4,500 /-

Liabilities  +Capital

4,5000+ 96,800= 1,01,300/-

What is Accounting Equation | Example

Comment if you have any question.

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)