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FA - Worksheet Problems For Home Assignment

This document contains two worksheets with accounting problems. The first worksheet asks the student to analyze transactions under the accounting equation approach. The second worksheet asks the student to classify various accounts as personal, real, or nominal accounts and then analyze transactions to identify which accounts need to be debited and credited.

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maheshbendigeri5945
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1K views

FA - Worksheet Problems For Home Assignment

This document contains two worksheets with accounting problems. The first worksheet asks the student to analyze transactions under the accounting equation approach. The second worksheet asks the student to classify various accounts as personal, real, or nominal accounts and then analyze transactions to identify which accounts need to be debited and credited.

Uploaded by

maheshbendigeri5945
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Worksheet Problems – Home Assignments

1. Analyze the following transactions under the Accounting Equation Approach.

1. Commenced business with cash ₹500000


2. Purchased goods ₹25000
3. Paid salary ₹10000
4. Sold goods costing ₹20000 at a profit of 25% on the cost
5. Paid salary in advance ₹2000
6. Introduced additional capital ₹10000
7. Purchased computer ₹15000
8. Deposited ₹50000 into the bank

2. Classify the following accounts into (a) personal accounts, (b) real accounts, and
(c)nominal accounts:

Accounts Type of Account

1. Furniture Account
2. Salaries Account
3. Outstanding Wages Account
4. National Trading Co. Ltd.'s Account
5. Stationery Account
6. Prepaid Insurance Account
7. Capital Account
8. Interest Account
9. Buildings Account
10. Purchases Account
11. Cash Account
12. Bank Account
13. Sales Account
14. Commission Received in Advance Account
15. Discount Account
16. Drawings Account
17. Loan Account
18. Mysore Store's Account
19. Repairs to Machinery Account
20. Stock Account
21. Investments Account
22. Loose Tools Account
23. Bangalore Sports Club's Account
24. Loss of Goods by Fire Account
25. Motor Vans Account
26. Rent Account
27. Carriage Account
28. Charity Account
29. Postage Account
30. Sales Returns Account
31. Purchases Returns Account
32. Goodwill Account
33. Depreciation Account
34. Bad Debts Account
35. National College's Account
36. Bangalore Corporation Account
37. Bad Debts Recovered Account
38. International Traders Account
39. Bank Overdraft Account

2. Analyze the following transactions and state the types of accounts that need to be
debited and credited.

1. Suryani commenced business with cash ₹ 1, 00,000.


2. Purchased machinery for cash ₹ 10,000
3. Purchased goods from Romil on credit ₹ 50,000
4. Sold goods for cash ₹ 10000
5. Paid wages to Jaimin ₹ 15,000
6. Paid to Romil ₹ 25000
7. Wages to be paid to Raj is outstanding ₹ 5000
8. Brokerage earned but not received ₹ 2000
9. Deposited ₹ 15000 into the bank.
10. Suryani withdrew cash for personal use ₹ 10000

Nature Debited
Reason for Effect on
Transaction Accounts of or
Accounts
Accounts Credited

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