Question 1

Question No 1 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 1 Chapter No 4
1. Prepare accounting equation on the basis of the following:

(i) 
Sawinder Sigh started the business with cash Rs 2,50,000

(ii)
Borrowed cash Rs 40,000 from Bank

(iii)
Telephone bills paid in cash Rs 3,000

(iv)
Saleem paid school fees of his son from the business Rs 15,000

(v) 
Repaid bank loan Rs 30,000

(vi)
Purchased goods for cash Rs 22,000

(vii)
Repaid the balance of bank loan by borrowing an equal amount from Jodhan.

(viii) 
Provided inte

Question 2

Question No 2 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 2 Chapter No 4
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. 
Particulars
Assets
Liabilities
Capital

Cash 
+ Furniture 
+stock
+Bank loan+ Johan

1
Harmanjit St

Question 3

Question No 3 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 3 Chapter No 4
3. Prove that the accounting equation is satisfied in all the following transaction of Suresh and prepare balance sheet at the end :

(i) 
Commenced business with cash Rs 80,000 and bank balance Rs 40,000

(ii)
Cash is withdrawn from bank for office use Rs 15,000

(iii)
Interest bill paid in cash Rs 9,000

(iv)
Commission received by cheque Rs 21,000

(v) 
Cash is withdrawn from the bank for personal use Rs 11,000

(vi)
Additional capital introduced Rs 24

Question 4

Question No 4 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 4 Chapter No 4
4. Show the effect of the following transaction on the accounting equations and prepare a balance sheet at the end :

(i) 
Surveen commenced business with cash Rs 60,000 and Stock Rs 30,000

(ii)
Purchased goods for cash Rs 30,000 and on credit Rs 15,000

(iii)
Sold goods (costing Rs 16,000) for Rs 14,000 in cash

(iv)
Sold goods (costing Rs 12,000) for Rs 15,000 on credit

(v) 
Goods donated for Leh Ladakh residents Rs 7,000

(vi)
Goods are withdrawn b

Question 5

Question No 5 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 5 Chapter No 4
5. Show the effect of the following transactions on the accounting equation

(i) 
Tarlok commenced business with cash Rs 1,20,000

(ii)
Purchased goods on credit Rs 20,000

(iii)
Purchased machinery for Rs 18,000

(iv)
Sold goods (coating Rs 11,000) for Rs 13,000

(v) 
Sold machinery (coating Rs 15,000) for Rs 14,500

(vi)
Cash paid to creditors Rs 17,000

The solution of Question No 5 Chapter No 4: -

S. No. 
Particulars
Assets
Liabilities
Capital

Question 6

Question No 6 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 6 Chapter No 4
6. Arvind has the following transaction. Use accounting equation to show their effect on his assets, liabilities and capital:

(i) 
Commenced business with cash Rs 90,000 and bank balance Rs 40,000

(ii)
Travelling expenses paid by cheque Rs 7,000

(iii)
Salary due but not paid Rs 5,500

(iv)
Rent paid for next year by cheque Rs 6,000

(v) 
Interest received Rs 12,000

(vi)
Interest due but not received Rs 8,000

(vii)
Commission received in advance for next y

Question 7

Question No 7 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

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 Chapt

Question 8

Question No 8 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 8 Chapter No 4
8. Show the accounting equation on the basis of the following transaction:

(i) 
Archna started business with cash Rs 50,000, stock Rs 25,000 and furniture Rs 15,000

(ii)
Goods coating Rs 13,000 sold for 16,000 on credit

(iii)
Purchased goods on credit Rs 35,000

(iv)
Depreciate furniture by Rs 2,000

(v) 
Bad debts are written off Rs 4,500

(vi)
Cash received Rs 6,400 from customer and allowed him to discount Rs 100

(vii)
Bad debts recovered Rs 2,500

(v

Question 9

Question No 9 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 9 Chapter No 4
9. Show the accounting equation on the basis of the following transaction and present a balance sheet:

Rs

(i) 
Mohan commenced business with 
70,000

(ii)
Purchased goods on credit 
14,000

(iii)
Withdrew for private use
1,700

(iv)
Purchased goods for cash 
10,000

(v) 
Paid wages
300

(vi)
Paid to creditor
10,000

(vii)
Sold goods coating Rs 12,000 on credit 
15,000

(viii)
Sold goods for cash (cost price RS 3,000) 
4,000

The solution of Question

Question 10

Question No 10 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 10 Chapter No 4
10. Show the accounting equation on the basis of the following transaction:

Rs

(i) 
Harish started business with cash 
15,000

(ii)
Purchased goods on credit 
7,000

(iii)
Purchased furniture for cash 
500

(iv)
Deposited in bank 
2,000

(v) 
Sold goods on credit to Satish(coating Rs 4,000) at 
6,000

(vi)
Withdrew cash fort private use
200

(vii)
Paid salaries 
300

The solution of Question No 10 Chapter No 4: -

S. No. 
Particulars
Assets
Liabili

Question 11

Question No 11 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 11 Chapter No 4
11. Show the accounting equation on the basis of the following transaction:

Rs

(i) 
Mukesh started the business with cash 
80,000

(ii)
Purchased goods from Ravi 
20,000

(iii)
Goods costing Rs 10,000 sold to Ramesh for 
15,000

(iv)
Withdrew Rs 4,000 for personal expenses

(v) 
Paid to creditor 
12,500

(vi)
Received from  debtors Rs 6,000 and discount allowed 500

(vii)
Received commission 
2,500

The solution of Question No 11 Chapter No 4:

Question 12

Question No 12 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 12 Chapter No 4
12. Supriya had the following transaction. Use accounting to show their effect on his assets, liabilities and capital.

(a) 
Brought Rs 45,000 in cash to start a business.

(b)
Purchased shares for cash Rs 22,500.

(c)
Purchased office equipment for Rs 45,000, giving Rs 15,000 in cash and the balance through a loan

(d)
Sold share coating Rs 3,000 for Rs 4,500

(e) 
Purchased one printer for Rs 8,400in cash

(f)
Received cash for rent Rs 10,800

(g)
P

Question 13

Question No 13 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 13 Chapter No 4
13. Give accounting equations for the following transactions of Hitesh for the year 2016-17

(a) 
Started business with cash Rs 18,000

(b)
Paid rent in advance Rs 400

(c)
Purchased goods for the cash Rs 5,000 and on credit Rs 2,000

(d)
Sold goods for cash Rs 4,000 ( costing Rs 2,400)

(e) 
Rent paid Rs 1,000 and rent outstanding Rs 200

(f)
Bought motorcycle for the personal use Rs 8,000

(g)
Purchased equipment for the cash Rs 500

(h)
Paid to cred

Question 14

Question No 14 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 14 Chapter No 4
14. Show the accounting equation from the following transaction:

(i) 
Tina commenced business with cash Rs 50,000

(ii)
Purchased goods for cash Rs 20,000 and on credit Rs 30,000

(iii)
Sold goods for cash Rs 40,000 (coating Rs 30,000)

(iv)
Rent paid Rs 5,000

(v) 
Brought furniture Rs 15,000 on credit

(vi)
Brought refrigerator for personal use Rs 4,000

(vii)
Purchased building for cash Rs 20,000

(viii)
Wages outstanding Rs 2,000

The solution of Que

Question 15

Question No 15 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 15 Chapter No 4
15. Show the accounting equation from the following transaction:

(i) 
George started the business with cash Rs 45,000 and bank balance Rs 35,000

(ii)
Purchased goods for cash Rs 20,000 and on credit Rs 10,000

(iii)
Sold half of the total above goods purchased at a profit of 20% on cost.

(iv)
Dividend received from tata tea co. Rs 4,000 by bank draft

(v) 
Advance received from a customer Rs 5,000 by cheque

(vi)
Goods destroyed by fire Rs 12,000. In

Question 16

Question No 16 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 16 Chapter No 4
16. Show the effect of the following transaction on accounting equation:

(i) 
Samuel commenced business with cash Rs 60,000 and furniture Rs 30,000

(ii)
Purchased goods on credit from Manisha Rs 45,000

(iii)
Sold 2/3rd of the above goods at a profit of 25% on sale. Half the payment received immediately

(iv)
2/3rd of the amount due to Manisha was paid after deducting 4% cash discount.

(v) 
Accepted a bill drawn by Manisha Rs 20,000

(vi)
Depreciate

Question 17

Question No 17 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 17 Chapter No 4
17. Show the effect of the following transaction on accounting equation:

(i) 
Divedi stated business with cash Rs 40,000

(ii)
Lent Rs 10,000 to Trivedi

(iii)
Interest received from Trivedi Rs 400

(iv)
Borrowed Rs 25,000 from Chaturvedi.

(v) 
Interest paid to Chaturvedi Rs 1,000

(vi)
Interest given to Divedi Rs 1,500.

The solution of Question No 17 Chapter No 4: -

S. No. 
Particulars
Assets
Liabilities
Capital

Cash 
+loan to Treivedi
Creditor+.

Question 18

Question No 18 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 18 Chapter No 4
18. Show the effect of the following transaction on accounting equation:

(i) 
Sukhbir started the business with a bank balance

(ii)
Taxes collected from the following the customer Rs 15,000

(iii)
Bank charges Rs 1,000

(iv)
Collected taxes deposited with the government Rs 12,000

(v) 
Income tax paid by cheque Rs 9,000

(vi)
Life insurance premium paid in cash Rs 2,000

The solution of Question No 18 Chapter No 4: -

S. No. 
Particulars
Assets
Li

Question 19

Question No 19 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 19 Chapter No 4
19. From the effect of the following transaction of Sumitra, prepare the accounting equation:

(i) 
Commenced business with bank balance Rs 1,50,000.

(ii)
Purchased goods wroth Rs 40,000 plus CGST 6% and SGST 6% from Amina .

(iii)
Purchased goods worth Rs 25,000 from other state plus 12% IGST through cheque.

(iv)
Purchased computer for RS 30,000 plus 9% CGST and SGST 6% paid by cheque.

(v) 
Sold goods costing Rs 30,000 for Rs 45,000 plus CGST and SGST 6% ag

Question 20

Question No 20 Chapter No 4 - USHA Publication  11 Class

Sarbjit Singh · Accepted Answer

Question No 20 Chapter No 4
20. From the following transaction of Madhu Bala, prepare the accounting equation:

(i) 
Commenced business with bank balance Rs 3,00,000.

(ii)
Purchased goods coating Rs 80,000 plus 14% CGST and SGST.

(iii)
Purchased goods from the other state Rs 1,00,000 plus 28% IGST.

(iv)
Paid telephone bill Rs 5,000 plus 9% CGST and SGST .

(v) 
Paid lawyer’s fee Rs 30,000 and deposited 9% CGST and SGST.

(vi)
Sold goods coating Rs 60,000 for 75,000 plus 14% CGST

S. No.	Particulars	Assets		Liabilities	Capital
S. No.	Particulars	Cash	+Stock	+Bank loan+ Johan	Capital
1	Sawinder Started Business with cash	2,50,000	-	-	2,50,000
		2,50,000	-	-	2,50,000
2	Borrowed cash from bank	+40,000		+40,000	-
		2,90,000		40,000	2,50,000
3	Telephone bills paid in cash	- 3,000		-	- 3,000
		2,87,000		40,000	+247000
4	Paid school fess from business	- 15,000	-	-	- 15,000
		2,72,000		40,000	2,32,000
5	Paid bank loan	- 30,000		-30,000
		2,42,000		10,000	2,32,000
6	Purchased goods for cash	- 22,000	+22,000
		2,20,000	+22,000	10,000	2,32,000
7	Repaid bank loan by borrowing from Jodhan	--	-	-10,000+10,000
		2,20,000	+22,000	10,000	2,32,000
8	Provide interest on capital	-	-		-5,000+5,000
	Total	2,20,000	+22,000	+10,000	+2,32,000

USHA Publication +1 Elements of Book-Keeping Solutions Chapter No. 4 Vouchers and Transactions

Quick Chapter Summary & Cheat Sheet

💡 Double Entry Accounting Principles

Topics & Questions Solved:

Question No 1 Chapter No 4 - USHA Publication 11 Class

The solution of Question No 1 Chapter No 4: -

Usha Publication - Elements of Book-Keeping PSEB (Class 11) - Solution

Question No 2 Chapter No 4 - USHA Publication 11 Class

Question No 3 Chapter No 4 - USHA Publication 11 Class

Question No 4 Chapter No 4 - USHA Publication 11 Class

Question No 5 Chapter No 4 - USHA Publication 11 Class

Question No 6 Chapter No 4 - USHA Publication 11 Class

Question No 7 Chapter No 4 - USHA Publication 11 Class

Question No 8 Chapter No 4 - USHA Publication 11 Class

Question No 9 Chapter No 4 - USHA Publication 11 Class

Question No 10 Chapter No 4 - USHA Publication 11 Class

Question No 11 Chapter No 4 - USHA Publication 11 Class

Question No 12 Chapter No 4 - USHA Publication 11 Class

Question No 13 Chapter No 4 - USHA Publication 11 Class

Question No 14 Chapter No 4 - USHA Publication 11 Class

Question No 15 Chapter No 4 - USHA Publication 11 Class

Question No 16 Chapter No 4 - USHA Publication 11 Class

Question No 17 Chapter No 4 - USHA Publication 11 Class

Question No 18 Chapter No 4 - USHA Publication 11 Class

Question No 19 Chapter No 4 - USHA Publication 11 Class

Question No 20 Chapter No 4 - USHA Publication 11 Class

Question No 21 Chapter No 4 - USHA Publication 11 Class

Question No 22 Chapter No 4 - USHA Publication 11 Class

Question No 23 Chapter No 4 - USHA Publication 11 Class

Question No 24 Chapter No 4 - USHA Publication 11 Class

Question No 25 Chapter No 4 - USHA Publication 11 Class

Question No 26 Chapter No 4 - USHA Publication 11 Class

Question No 27 Chapter No 4 - USHA Publication 11 Class

Question No 28 Chapter No 4 - USHA Publication 11 Class

Question No 29 Chapter No 4 - USHA Publication 11 Class

Question No 30 Chapter No 4 - USHA Publication 11 Class

Sarbjit SinghB.Com and M.Com


(i)	Sawinder Sigh started the business with cash Rs 2,50,000
(ii)	Borrowed cash Rs 40,000 from Bank
(iii)	Telephone bills paid in cash Rs 3,000
(iv)	Saleem paid school fees of his son from the business Rs 15,000
(v)	Repaid bank loan Rs 30,000
(vi)	Purchased goods for cash Rs 22,000
(vii)	Repaid the balance of bank loan by borrowing an equal amount from Jodhan.
(viii)	Provided interest on capital Rs 5,000