[CBSE] Q 15 Accounting Equation TS Grewal Class 11 (2022-23)
Are you looking for the solution of Question number 15 of Accounting Equation chapter TS Grewal class 11 CBSE Board 2022-23?
Show an Accounting Equation for the following transactions:
(i) D. Mahapatra commenced business with cash ₹ 50,000 and ₹ 1,00,000 by cheque; goods ₹ 60,000; machinery ₹ 1,00,000 and furniture ₹ 50,000.
(ii) 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash.
(iii) Depreciation on machinery provided @ 10%
(iv) Cash withdrawn for personal use ₹ 10,000.
(v) Interest on drawings charged @ 5%.
(vi) Goods sold to Gupta for ₹ 10,000 and received a Bill Receivables for the same amount for 3 months.
(vii) Received ₹ 10,000 from Gupta against the Bills Receivables on its maturity.
[Assets: Cash ₹ 61,000 + Bank ₹ 1,00,000 + Stock (goods) ₹ 30,000 + Machinery ₹ 90,000 + Furniture ₹ 50,000 + Debtors ₹ 11,000 = Liabilities: Nil + Capital: ₹ 3,42,000.]
[Hints: 1. Opening Capital ₹ 3,60,000 = Cash ₹ 50,000 + Bank ₹ 1,00,000 + Stock ₹ 60,000 + Machinery ₹ 1,00,000 + Furniture ₹ 50,000. 2. Liabilities: Nil.]
Solution:-
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| S.N | Solution |
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| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
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| S.N | Solution |
| 11 | Question – 11 |
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| 15 | Question – 15 |
| 16 | Question – 16 |
| 17 | Question – 17 |
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| S.N | Solutions |
| 21 | Question – 21 |
| 22 | Question – 22 |
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| 26 | Question – 26 |
