Scribd
Upload
14 views

Document 1

Please let me download

Uploaded by

sougatamondal88302
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
14 views

Document 1

Please let me download

Uploaded by

sougatamondal88302
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

1) Avhinash is a wholesale trader.

Following transactions and record in accounting


equation.

i. Commence business with cash ₹ 2,00,000 and land ₹ 50,000.


ii. Bought merchandising for cash ₹ 80,000.
iii. Cash sales of worth ₹ 25,000.
iv. Bought good on credit from Salman of worth ₹ 50,000.
v. Sales on account to ail rasa ₹ 12,000.
vi. Return defective furniture of worth ₹ 1,500.
vii. Paid wages ₹ 1,000 , rent ₹ 2,000 and electricity bill payable ₹ 1,500.

2) What will be the effect of following on Accounting equation.

i. Started business with cash ₹ 45,000.


ii. Opened a bank account with a deposit of ₹ 4,500.
iii. Bought goods from M/s Sun & Co. for ₹ 11,200.

3)Prepare an accounting equation and balance sheet on the following basis.


i. Ajit started business with cash ₹ 20,000.
ii. He purchased furniture for ₹ 2000.
iii. He paid rent of ₹ 200.
iv. He purchased goods on credit ₹ 3,000.
v. He sold goods cost price (₹ 2,000) for ₹ 5,000 on cash.

4) Prepare an accounting equation from the following.

i. Started business with cash ₹ 1,00,000 and goods ₹ 20,000.


ii. Sold goods worth (₹ 10,000) for cash ₹ 12,000.
iii. Purchased furniture on credit for ₹ 30.000.

You might also like