[DK Goel] Q 17 Accounting Equations Solutions CBSE (2024-25) Class 11

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Solution of Question number 17 Accounting Equations DK Goel class 11 CBSE (2042-25).

From the following transactions, state the nature of accounts and state the accounts which will be debited and credited:

1. Ganesh started business with Cash ₹ 2,00,000.

2. Purchased goods for Cash ₹ 60,000.

3. Sold goods for Cash ₹ 75,000.

4. Purchased goods from Nakul on Credit for ₹ 80,000.

5. Sold goods to Bhushan on Credit for ₹ 50,000.

6. Paid Cash to Nakul ₹ 20,000.

7. Received Cash from Bhushan ₹ 10,000.

8. Paid Salary ₹ 20,000.

Solution:-

S.NAccountNatureDr./Dr.
1Cash A/c
Capital A/c
2,00,000
2,00,000
Asset
Capital
Debit
Credit
2Purchases A/c
Cash A/c
60,000
60,000
Expenses
Asset
Debit
Credit
3Cash A/c
Sales A/c
75,000
75,000
Asset
Revenue
Debit
Credit
4Purchases A/c
Nakul A/c
80,000
80,000
Expenses
Liability
Debit
Credit
5Bhushan A/c
Sale A/c
50,000
50,000
Asset
Revenue
Debit
Credit
6Nakul A/c
Cash A/c
20,000
20,000
Liability
Asset
Debit
Credit
7Cash A/c
Bhushan A/c
10,000
10,000
Asset
Asset
Debit
Credit
8Salary A/c
Cash A/c
20,000
20,000
Expenses
Asset
Debit
Credit

Below is the list of all solutions

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
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10Question – 10
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17Question – 17
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S.NSolutions
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29Question – 29
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