# [CBSE] Q 15 Accounting Equation TS Grewal Class 11 (2022-23)

Share your love

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(iv) Cash withdrawn for personal use ₹ 10,000.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:-

Below are the links of all solutions

Share your love
##### Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 4635
close

## Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.
error: Content is protected !!