Question 1

Question 1 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 1 Chapter 3 - Unimax
1. If the capital of a business is Rs. 1,20,000 and liabilities are Rs. 75,000. Calculate the assets.
The solution of Question 1 Chapter 3 - Unimax:

Total Assets
= Capital + Liabilities

= 1,20,000+ 75,000

= 1,95,000

This is all about the Question 1 Chapter 3 - Unimax. You can check out the following article to better understand:
What is Accounting Equation | Example
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What is the Account

Question 2

Question 2 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 2 Chapter 3 - Unimax
2. From the following information, calculate the total assets of the business capital 7,50,000 creditors 6,00,000. Revenue earned during the period Rs. 12,75,000. Expenses incurred during the peroid Rs. 5,25,000 and value of unsold stock Rs. 5,25,000.
The solution of Question 2 Chapter 3 - Unimax:

Total Assets
= Capital + Liabilities + Profit

= 6,00,000 +7,50,000+ (12,75,000-5,25,000)

= 21,00,000 (including Rs. 5,25,000 closing stock)

This is all abou

Question 3

Question 3 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 3 Chapter 3 - Unimax
3. Calculate Total equity if: Owner's equity in the beginning is Rs. 1,20,000 equity of creditors at the end is Rs. 1,05,000 Revenue during the period is Rs. 1,35,000. Expenses during the same period are Rs. 1,27,500. Also calculate amount of owner's equity at the end.
The solution of Question 3 Chapter 3 - Unimax:

Total Equity
=Owner's Equity + Creditor's equity

= (Opening Owner's equity + Revenue - Expenses) + Creditors equity

=(1,20,000+ 1,35,000-1,27

Question 4

Question 4 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 4 Chapter 3 - Unimax
4. A commenced his cloth business on 1st April, 2020 with a capital of Rs. 22,500. On 31st March, 2021 his assets were Rs. 37,500 and Liabilities were Rs. 7,500. Find out his closing capital and profits earned during the year.
The solution of Question 4 Chapter 3 - Unimax:

Total Assets
= Capital + Liabilities

37,500
= Capital + 7,500

Capital
= 37,500 - 7,500

= 30,000

Profit
= Closing Capital - Opening Capital

=30,000-22,500

= 7,500

Thi

Question 5

Question 5 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 5 Chapter 3 - Unimax
5. Manmeet started a business on 1 April, 2020 with a capital of 90,000 and a Loan of 45,000 taken from B. During 2020-2021, he had introduced additional capital of 60,000 and had withdrawn Rs. 15,000 for personal use. On 31" March, 2021 his assets were Rs. 2,40,000. Find his capital as on 31 March, 2021 and profit made or loss incurred during the year 2020-2021.
The solution of Question 5 Chapter 3 - Unimax:

Closing Capital
=Closing Assets-Closing Liabilities

Question 6

Question 6 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 6 Chapter 3 - Unimax
6. On 31st March, 2021 the total assets and external Liabilities were Rs. 3,00,000 and Rs. 9,000, respectively. During the year, the proprietor had introduced additional capital of Rs. 30,000 and had withdrawn Rs. 18,000 for personal use. He made a profit of Rs. 30,000 during the year. Calculate the capital as on 1 April, 2020.
The solution of Question 6 Chapter 3 - Unimax:

Closing Capital
=Closing Assets-Closing External Liabilities

= 3,00,000-9,000

=

Question 7

Question 7 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 7 Chapter 3 - Unimax
7. Prepare the accounting equations on the basis of following transactions:(i) X commenced business with cash Rs. 1,00,000.(ii) Purchased goods on credit Rs. 20,000(iii) Cash deposited into bank Rs. 10,000 (iv) Sold goods on credit Rs. 20,000(v) Purchased machinery Rs. 7,500
The solution of Question 7 Chapter 3 - Unimax:

Transactions 
Assets
=Liabilities 
+ Capital

Cash
+Stock
+ Bank
+ Debtors
+ Machinery 
 Creditors

(i) Commenced business with cash
+1,

Question 8

Question 8 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 8 Chapter 3 - Unimax
8. Prepare accounting equation on the basis of the following: (i) Sahil started business with cash Rs. 20,000(ii) Sahil purchased machinery for cash Rs. 4,000(iii) Sahil paid rent Rs. 500(iv) Sahil purchased goods on credit Rs. 5,000(v) Sahil sold goods (cost price Rs. 3,500) for Rs. 6,200 on cash.
The solution of Question 8 Chapter 3 - Unimax:

Transactions
Assets
=Liabilities 
+ Capital

Cash
+ Machinery 
+ Stock
Creditors

(i) Sahil started business wit

Question 9

Question 9 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 9 Chapter 3 - Unimax
9. Prepare Accounting equation on the basis of following: (i) Mandeep started business with cash Rs. 3,50,000.(ii) Borrowed cash Rs. 80,000 from bank. (iii) Purchase goods Rs. 50,000 for cash.(iv) Mandeep paid school fees of his son from the business Rs. 20,000.(v) Repaid bank loan Rs. 30,000.(vi) Sold goods for cash Rs. 30,000.(vii) Repaid the balance of bank loan by borrowing equal amount from Rajveer.
The solution of Question 9 Chapter 3 - Unimax:

Transaction

Question 10

Question 10 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 10 Chapter 3 - Unimax
10. Prove that the accounting equation is satisfied in all the following transactions Sandeep and Prepare Balance Sheet at end.(i)Commenced business with cash Rs. 1,80,000 and Bank Balance Rs. 60,000.(ii) Cash withdrawn from bank for office use Rs. 20,000. (iii) Internet bill paid in cash Rs. 10,000.(iv) Provide interest on capital Rs. 5,000.(v) Commission received by cheque Rs. 20,000.(vi) Cash withdrawn from bank for personal use Rs. 3,000.(vii) Additional Capit

Question 11

Question 11 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 11 Chapter 3 - Unimax
11. Prepare accounting equation on the basis of following transaction. (i) Started business with cash Rs. 1,00,000 and furniture Rs. 50,000.(ii) Purchase goods for cash Rs. 25,000 and credit Rs. 20,000. (iii) Deposit cash into bank Rs. 10,000.(iv) Bought motor-cycle for personal use Rs. 10,000. (v) Withdrew cash for private use Rs. 2,500.(vi) Withdrew cash for office use Rs. 4,000.(vii) Depreciation on furniture @ 10%.
The solution of Question 11 Chapter 3 - Unima

Question 12

Question 12 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 12 Chapter 3 - Unimax
12. Show the accounting equation on the basis of following transaction.(i)  Commenced business with cash 2,00,000.(ii) Purchase goods from Rohit Rs. 20,000. (iii) Purchase a home for Rs. 25,000; giving cash and balance through(iv) Sold goods to amrita Rs. 15,000. (v) Bad debts write off RS. 4,000.(vi) Cash received Rs. 10,500 from Debtor for full settlement of his account.(vii) Bad debts recovered Rs. 2,500. (viii) Cash paid to creditor Rs. 19,200 for full settlem

Question 13

Question 13 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 13 Chapter 3 - Unimax
13. Prepare accounting equation on the basis of following transaction. (i) Anant started business with cash Rs. 2,00,000 and Furniture Rs. 50,000.(ii) Purchase goods Rs. 50,000 on credit.(iii) Sold goods for Rs. 40,000 (Costing Rs. 35,000) on credit.(iv) Return goods to supplier Rs. 10,000. (v) Goods returned by a customer cost Rs. 3,500.(vi) Salary due but not paid Rs. 4,000.(vii) Insurance paid for next year Rs. 6,000.(viii) Commission earned but not received Rs

Question 14

Question 14 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 14 Chapter 3 - Unimax
14. Show the effect of following transactions on Accounting equation. (a) George started business with cash Rs. 1,00,000 and bank balance Rs. 30,000.(b) Purchased goods for cash Rs. 30,000 and on credit Rs. 20,000. (c) Sold half of the total of above goods purchased at a profit of 20% on cost.(d) Sold remaining goods purchased at a profit of 20% on sale.(e) Purchased goods for Cash Rs. 45,000. (f) Advance received from a customer Rs. 10,000 by cheque.(g) Goods des

Question 15

Question 15 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 15 Chapter 3 - Unimax
15. Show the effect of the following transactions on acing Equation. 1) Rahul commenced business with cash Rs. 80,000 and Bank Rs. 30,000.2) Purchased goods on credit from Sunil Rs. 60,000.3) Sold 2/3 of the above goods at a profit of 20% on sales. Half the payment received immediately.4) 1/2 of the amount due to Sunil was paid after deducting 4% cash discount 5) Accepted a bill drawn by Sunil 29,000 for full settlement of his Account.6) Goods donated to Leh Ladak

Question 16

Question 16 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 16 Chapter 3 - Unimax
16 Prepare the accounting action from the following:(i)  Started business with cash Rs. 6,00,000.(ii) Purchased Machinery Costing Rs. 1,00,000 plus CGST 9% and SGST 9%.(iii) Paid telephone bill Rs. 6,000 plus CGST 9% and SGST 9%. (iv) Purchased goods from other state worth Rs. 80,000 plus IGST 18%.(v) Purchased goods worth 40,000 plus 9% CGST and 9% SGST. (vi) Sold goods casting Rs. 60,000 for Rs. 80,000 in other state plus IGST 18%.(vii) Purchased stationery wort

Question 17

Question 17 Chapter 3 of Unimax Publications Class 11

Sarbjit Singh · Accepted Answer

Question 17 Chapter 3 Unimax
17. Prepare the accounting equation from the following:(i) Commenced business with cash Rs. 8,00,000.(ii) Purchased goods from other state worth Rs. 40,000 plus IGST 12%. (iii) Purchased goods worth Rs. 60,000 plus CGST 6% and SGST 6% from Simran.(iv) Sold goods costing Rs. 40,000 for Rs. 50,000 plus CGST 6% and SGST 6%.(v) Paid Salaries Rs. 30,000.(vi) Purchased Car for the business Rs. 4,00,000 plus CGST 14% and SGST 14%. (vii) Sold goods in other state costing Rs

Question 18

Question 18 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 18 Chapter 3 - Unimax
18. Prepare accounting equations on the basis of following transactions :(i)Commenced business with cash RS. 75,000(ii) Rent paid in advance Rs. 840 (iii) Purchased goods for cash Rs. 25,000 and credit Rs. 18,000(iv) Sold goods (costing Rs. 12,000) for cash Rs. 15,000(v) Paid salaries Rs. 2,400 and salaries outstanding Rs. 600(vi) Bought motor-cycle for personal use Rs. 11,000
The solution of Question 18 Chapter 3 - Unimax:

Transactions 
Assets
Liabilities 
+ C

Question 19

Question 19 Chapter 3 of Unimax Publications Class 11

Sarbjit Singh · Accepted Answer

Question 19 Chapter 3 Unimax
19. Show the accounting equation on the basis of the following transactions: i Commenced business with cash 25,000ii Purchased goods on credit 12,500iii Purchased furniture for cash 1,200iv Deposited into bank 5,000v Sold goods (costing 7,000) on credit for 8,200vi Withdrew cash for private use 1,500vii Withdrew cash for office use 2,400viii Paid salaries 700.
The solution of Question 19 Chapter 3 - Unimax:

Transactions 
Assets
Liabilities 
+ Capital

Cash
+St

Question 20

Question 20 Chapter 3 - Unimax Publications of Class 11

Sarbjit Singh · Accepted Answer

Question 20 Chapter 3 - Unimax
20. Aviral has the following transactions. Use accounting equations to show their his assets, liabilities and capital:(i) Invested Rs. 45,000 in cash(ii) Purchased securities for cash Rs. 10,000. (iii) Purchased a home for Rs. 25,000; giving Rs. 10,000 as cash and balance through loan.(iv) Sold securities (costing Rs. 2,000) For Rs. 2400(v) Purchased an old motor-cycle for Rs. 6,500(vi) Paid salaries Rs. 2,400(vii) Received cash for dividend on securities Rs. 400(

Unimax class 11 - 2021 Solutions Chapter No. 3 Vouchers and Transactions - Unimax +1

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💡 Double Entry Accounting Principles

Topics & Questions Solved:

Question 1 Chapter 3 - Unimax Publications of Class 11

The solution of Question 1 Chapter 3 - Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Question 2 Chapter 3 - Unimax Publications of Class 11

Question 3 Chapter 3 - Unimax Publications of Class 11

Question 4 Chapter 3 - Unimax Publications of Class 11

Question 5 Chapter 3 - Unimax Publications of Class 11

Question 6 Chapter 3 - Unimax Publications of Class 11

Question 7 Chapter 3 - Unimax Publications of Class 11

Question 8 Chapter 3 - Unimax Publications of Class 11

Question 9 Chapter 3 - Unimax Publications of Class 11

Question 10 Chapter 3 - Unimax Publications of Class 11

Question 11 Chapter 3 - Unimax Publications of Class 11

Question 12 Chapter 3 - Unimax Publications of Class 11

Question 13 Chapter 3 - Unimax Publications of Class 11

Question 14 Chapter 3 - Unimax Publications of Class 11

Question 15 Chapter 3 - Unimax Publications of Class 11

Question 16 Chapter 3 - Unimax Publications of Class 11

Question 17 Chapter 3 of Unimax Publications Class 11

Question 18 Chapter 3 - Unimax Publications of Class 11

Question 19 Chapter 3 of Unimax Publications Class 11

Question 20 Chapter 3 - Unimax Publications of Class 11

Question 21 Chapter 3 - Unimax Publications of Class 11

Question 22 Chapter 3 - Unimax Publications of Class 11

Question 23 Chapter 3 - Unimax Publications of Class 11

Question 24 Chapter 3 - Unimax Publications of Class 11

Question 25 Chapter 3 of Unimax Publications Class 11

Question 26 Chapter 3 - Unimax Publications of Class 11

Question 27 Chapter 3 - Unimax Publications of Class 11

Question 28 Chapter 3 - Unimax Publications of Class 11

Sarbjit SinghB.Com and M.Com

Total Assets	= Capital + Liabilities
	= 1,20,000+ 75,000
	= 1,95,000