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NCERT-Solution-05-Accounting-Equation-Sol-01-min

The document presents a series of accounting transactions for a business started by Harsha, illustrating the accounting equation. It details the impact of each transaction on assets, capital, and liabilities, including starting capital, purchases, sales, and credit purchases. The equations are updated after each transaction to reflect the current financial position of the business.

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13 views

NCERT-Solution-05-Accounting-Equation-Sol-01-min

The document presents a series of accounting transactions for a business started by Harsha, illustrating the accounting equation. It details the impact of each transaction on assets, capital, and liabilities, including starting capital, purchases, sales, and credit purchases. The equations are updated after each transaction to reflect the current financial position of the business.

Uploaded by

darshjajoo09082009
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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XI Accountancy Accounting Equation

AccountsAptitude.com
NCERT Book Numerical Questions - 01

HARSHA

S.N. Transactions Assets = Capital + Liabilities


Cash + Stock + Debtors + Furniture = Capital + Creditors
₹ ₹ ₹ ₹ ₹
(a) Harsha started business
2,00,000 = 2,00,000
with cash ₹2,00,000
(b) Purchased goods from
-40,000 + 40,000 = -
Naman for cash ₹40,000
New Equation 1,60,000 + 40,000 = 2,00,000
(c) Sold goods to Bhanu
costing ₹10,000/- for - 10,000 + 12,000 = 2,000
₹12,000/-
New Equation 1,60,000 + 30,000 + 12,000 = 2,02,000
(d) Bought furniture on credit
+ 7,000 = 7,000
₹7,000
New Equation 1,60,000 + 30,000 + 12,000 + 7,000 = 2,02,000 + 7,000

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