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# T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation

Exercise/Page

## T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.17

Solution 1

 Sr. No. Transactions Assets = Liabilities+ Capital Cash Rs. + Bank + Rs. Stock Rs. = Creditors Rs. Capital Rs. (i) Started business with cash 45,000 = 45,000 45,000 = 45,000 (ii) Opened a Bank Account with a deposit (4,500) 4,500 = 40,500 4,500 = 45,000 (iii) Bought goods from M/s .Sun and Co. 11,200 = 11,200 Total 40,500 + 4,500 + 11,200 = 11,200 + 45,000

Solution 2

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock Rs. + Debtors Rs. = Creditors Rs. Capital Rs. (i) Gopinath started business with 25,000 = 25,000 25,000 = 25,000 (ii) Purchased goods from Shyam 10,000 10,000 25,000 10,000 = 10,000 25,000 (iii) Sold goods to Sohan (1,800) 1,500 = (300) 25,000 8,200 1,500 = 10,000 24,700 (iv) Gopinath withdraw from business (5000) = (5,000) Total 20,000 + 8,200 + 1,500 = 10,000 + 19,700

## T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.18

Solution 3

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Advance Expenses Rs. = Outstanding Expenses Rs. Capital Rs. (i) Started business with cash 50,000 = 50,000 50,000 = 50,000 (ii) Salaries paid (2,000) = (2,000) (Exp.) 48,000 = 48,000 (iii) Wages Outstanding = 200 (200) 48,000 = 200 47,800 (iv) Interest due but not paid = 100 (100) (Exp.) 48,000 = 300 47,700 (v) Rent pain advance (150) 150 = Total 47,850 + 150 = 300 + 47,700

Solution 4

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock Rs. = Creditors Rs. + Outstanding Rent Rs. + Capital Rs. (i) Harish started business with cash 18,000 = 18,000 18,000 = 18,000 (ii) Purchased goods for cash Rs.5,000 and on credit Rs.2,000 (5,000) 7,000 = 2,000 13,000 7,000 = 2,000 + 18,000 (iii) Sold goods for cash Rs.4,000 costing Rs.2,400 4,000 (2,400) = 1,600 (Profit) 17,000 4,600 = 2,000 + 19,600 (iv) Rent paid Rs.1,000 and Rent Outstanding Rs.200 (1,000) = 200 (1,200) Total 16,000 + 4,600 = 2,000 200 + 18,400

Solution 5

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock + Rs. Furniture Rs. = Creditors Rs. + Capital Rs. (i) Started business with cash Rs.1,00,000 and Goods Rs.20,000 1,00,000 20,000 = 1,20,000 1,00,000 20,000 = 1,20,000 (ii) Sold goods worth Rs.10,000 for cash Rs.12,000 12,000 (10,000) = 2,000 (Profit) 1,12,000 10,000 = 1,22,000 (iii) Purchased furniture on credit for Rs.30,000 30,000 = 30,000 Total 1,12,000 + 10,000 + 30,000 = 30,000 + 1,22,000

Solution 6

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Furniture  Rs. + Stock Rs. = Creditors Rs. + Capital Rs. (i) Ajeet started business with cash Rs.20,000 20,000 = 20,000 20,000 = 20,000 (ii) He purchased furniture for Rs.2,000 (2,000) 2,000 = 18,000 2,000 = 20,000 (iii) He paid rent of Rs.200 (200) = (200) (Exp.) 17,800 2,000 = 19,800 (iv) He purchased goods on credit Rs.3,000 3,000 = 3,000 17,800 2,000 + 3,000 = 3,000 19,800 (v) He sold goods(cost price Rs. (2,000) for Rs.5,000 on cash 5,000 + (2,000) = 3,000 (Profit) Total 22,800 + 2,000 + 1,000 = 3,000 + 22,800

 Balance Sheet Liabilities Rs. Assets Rs. Capital 22,800 Cash 22,800 Creditors 3,000 Furniture 2,000 Stock 1,000 25,800 25,800

Solution 7

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock  Rs. + Debtors Rs. = Creditors Rs. + Capital Rs. (i) Started business with cash Rs.1,00,000 1,00,000 = 1,00,000 1,00,000 = 1,00,000 (ii) Purchased goods for cash Rs.20,000 and on credit Rs.30,000 (20,000) 50,000 = 30,000 80,000 50,000 = 30,000 1,00,000 (iii) Sold goods for cash costing Rs.10,000 and on credit costing Rs.15,000 both at a profit of 20% 12,000 (10,000)   (15,000) + 18,000 =   = 2,000   3,000 Total 92,000 + 25,000 + 18,000 = 30,000 + 1,05,000

Solution 8

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock  Rs. + Furniture Rs. = Creditors Rs. + Capital Rs. (i) Mohan commenced business with cash 50,000 = 50,000 50,000 = 50,000 (ii) Purchased goods for cash (30,000) 30,000 = 20,000 30,000 = 50,000 (iii) Purchased goods on credit 20,000 = 20,000 20,000 50,000 = 20,000 50,000 (iv) Sold goods costing Rs.10,000 for Rs.12,000 12,000 (10,000) = 2,000 (Profit) 32,000 40,000 = 20,000 52,000 (v) Bought furniture on credit 2,000 = 2,000 32,000 40,000 + 2,000 = 22,000 52,000 (vi) Paid cash to creditor (15,000) = (15,000) 17,000 40,000 + 2,000 = 7,000 52,000 (vi) Salary paid (1,000) = (1,000) Total 16,000 + 40,000 + 2,000 = 7,000 + 51,000

## T. S. Grewal Solution for Class 11 Commerce Accountancy Chapter 5 - Accounting Equation Page/Excercise 5.19

Solution 9

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Stock  Rs. + Machinery Rs. = Creditors Rs. Capital Rs. (i) Started business with cash Rs.70,000 70,000 70,000 70,000 70,000 (ii) Credit purchase of goods Rs.18,000 18,000 = 18,000 70,000 18,000 = 18,000 70,000 (iii) Payment made to creditor Rs.17,500 in full settlement (17,500) = (18,000) 500 (Discount Received) 52,500 18,000 = NIL 70,500 (iv) Purchase of machinery for cash Rs.20,000 (20,000) 20,000 32,500 18,000 20,000 = NIL 70,500 (v) Depreciation on machinery Rs.2,000 (2,000) (2,000) (Depreciation) Total 32,500 + 18,000 + 18,000 = NIL + 68,500

Solution 10

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Prepaid Rent Rs. + Stock Rs. = Creditors Rs. + Outstanding Salary Rs. + Capital Rs. (i) Commenced business with cash Rs.60,000 60,000 60,000 60,000 = 60,000 (ii) Paid rent in advance Rs.500 (500) 500 59,500 500 = 60,000 (iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000 (30,000) 50,000 20,000 29,500 500 50,000 = 20,000 60,000 (iv) Sold goods for cash 30,000 costing Rs.20,000 30,000 (20,000) 10,000 (Profit) 59,500 500 30,000 = 20,000 70,000 (v) Paid salary Rs.500 and salary outstanding being Rs.100 (5000) = (5,000) (Drawings) Total 54,000 + 500 + 30,000 = 20,000 + 100 + 64,400

 Balance Sheet Liabilities Rs. Assets Rs. Capital 64,400 Cash 54,000 Creditors 20,000 Prepaid Rent 500 Outstanding Salary 100 Stock 30,000 85,500 85,500

Solution 11

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Accrued Interest Rs. = Advance Commission  Rs. + Capital Rs. (i) Started business with cash Rs.60,000 60,000 = 60,000 60,000 = 60,000 (ii) Rent received Rs.2,000 2,000 = 2,000 (Income) 62,000 = 62,000 (iii) Accrued interest Rs.500 500 = 500 (Income) 62,000 500 = 62,500 (iv) Commission received in advance Rs.1,000 1,000 = 1,000 63,000 500 = 1,000 62,500 (v) Amount withdrawn Rs.5,000 ( 5000) = (5,000) Total 58,000 + 500 = 1,000 + 57,500

 Balance Sheet Liabilities Rs. Assets Rs. Capital 57,500 Cash 58,000 Advance Commission 1,000 Accrued Interest 500 58,500 58,500

Solution 12

 Sr. No. Transactions Assets = Liabilities + Capital Cash Rs. + Prepaid Rent Rs. + Stock Rs. = Creditors Rs. + Outstanding Salary Rs. + Capital Rs. (i) Started business with cash Rs.10,000 10,000 10,000 10,000 = 10,000 (ii) Paid rent in advance Rs.300 (300) 300 9,700 300 = 10,000 (iii) Purchased goods for cash Rs.5,000 and credit Rs.2,000 (5,000) 5,000 = 2,000 2,000 = 4,700 300 7,000 = 2,000 10,000 (iv) Sold goods for cash Rs.8,000 costing Rs.4,000 8,000 (4,000) 4,000 (Profit) 12,700 300 3,000 = 2,000 14,000 (v) Paid salary Rs.450 and salary outstanding being Rs.100 (450) =