[DK Goel] Q 2 Accounting Equations Solutions CBSE (2024-25) Class 11

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Solution of Question number 2 (a), 2(b) Accounting Equations DK Goel class 11 CBSE (2042-25).

Show the Accounting Equation on the basis of the following and present a balance sheet on the last new equation balances:

(I)Manu started business with cash50,000
(ii)Bought furniture for500
(iii)Purchased goods on credit4,000
(iv)Sold goods on cash (cost ₹ 500) for700
(v)Received Rent200
(vi)Purchased goods for cash1,000
(vii)withdrew for personal use700
(viii)Paid to Creditors400
(ix)Paid for salaries200

[Ans. Assets : Cash ₹ 48,100 + Furniture ₹ 500 + Stock ₹ 4,500 = Liabilities: Creditors ₹ 3,600 + Capital ₹ 49,500; Balance Sheet Total ₹ 53,100.]

Solution:-

Prove that the Accounting Equation is satisfied in all the following transactions of Rajaram. Also prepare a Balance Sheet:-

1. Started business with Case ₹ 1,20,000.

2. Purchased a typewriter for cash for ₹ 8,000 for office use.

3. Purchased goods for ₹ 50,000 for cash.

4. Purchased goods for ₹ 40,000 on credit.

5. Goods costing ₹ 60,000 sold for ₹ 80,000 on credit.

6. Paid for Rent ₹ 1,500 and for salaries ₹ 2,000.

7. Received ₹ 800 for Commission.

8. Withdrew for Private use ₹ 5,000 in cash.

[Ans. Assets : Cash ₹ 54,300 + Typewriter ₹ 8,000 + Stock ₹ 30,000 + Debtors ₹ 80,000 = Liabilities : Creditors ₹ 40,000 + Capital ₹ 1,32,300; Balance Sheet Total ₹ 1,72,300.]

Solution:-

Accounting Equation

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Anurag Pathak

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