Class 11-commerce T S GREWAL Solutions Accountancy Chapter 5: Accounting Equation
Accounting Equation Exercise 5.18
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 |
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 |
Accounting Equation Exercise 5.19
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. |
|
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 |
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. |
|
30,000 |
|||
|
|
85,500 |
|
85,500 |
Accounting Equation Exercise 5.20
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. |
|
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) |
|
|
|
|
= |
|
|
100 |
|
(450) (Expenses) (100) (Expenses) |
|
|
|
12,250 |
|
300 |
|
3,000 |
= |
2,000 |
+ |
100 |
|
13.450 |
|
(vi) |
Brought motorcycle for personal use Rs.3,000 |
(3,000) |
|
|
|
|
= |
|
|
|
|
(3,000) (Drawings) |
|
|
Total |
9,250 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
+ |
100 |
|
10,450 |
Solution 13
|
Sr. No. |
Transactions |
Assets |
= |
Liabilities + Capital |
||||||||||||
|
Cash Rs. |
+ |
Bank Rs. |
+ |
Stock Rs. |
+ |
Furniture Rs. |
+ |
Motor Cycle Rs. |
= |
Creditors Rs. |
+ |
Outstanding Rent Rs. |
+ |
Capital Rs. |
||
|
(i) |
Commenced business with Cash Rs.50,000 |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
|
|
|
50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
|
(ii) |
Paid in to bank Rs.10,000 |
(10,000) |
|
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,000 |
|
10,000 |
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
|
(iii) |
Purchased goods for cash Rs.20,000 and credit Rs.30,000 |
(20,000) |
|
|
|
20,000
30,000 |
|
|
|
|
|
30,000 |
|
|
|
|
|
|
|
20,000 |
|
10,000 |
|
50,000 |
|
|
|
|
= |
30,000 |
|
|
|
50,000 |
|
(iv) |
Sold goods for cash Rs.40,000 costing Rs.30,000 |
40,000 |
|
|
|
(30,000) |
|
|
|
|
= |
|
|
|
|
10,000 (Expenses) |
|
|
|
60,000 |
|
10,000 |
|
20,000 |
|
|
|
|
= |
30,000 |
|
|
|
60,000 |
|
(v) |
Rent paid Rs.500 |
(500) |
|
|
|
|
|
|
|
|
= |
|
|
|
|
(500) (Expenses) |
|
|
|
59,500 |
|
10,000 |
|
20,000 |
|
|
|
|
= |
30,000 |
|
|
|
59,500 |
|
(vi) |
Rent outstanding Rs.100 |
|
|
|
|
|
|
|
|
|
|
|
|
100 |
|
(100) (Drawings) |
|
|
|
59,500 |
|
10,000 |
|
20,000 |
|
|
|
|
= |
30,000 |
|
100 |
|
59,400 |
|
(vii) |
Bought Furniture on credit Rs.5,000 |
|
|
|
|
|
|
5,000 |
|
|
= |
5,000 |
|
|
|
|
|
|
|
54,500 |
|
10,000 |
|
20,000 |
|
5,000 |
|
|
= |
35,000 |
|
100 |
|
59,400 |
|
(viii) |
Bought refrigerator for personal use Rs.5,000 |
(5,000) |
|
|
|
|
|
|
|
|
= |
|
|
|
|
(5,000) (Drawings) |
|
|
|
54,500 |
|
10,000 |
|
20,000 |
|
5,000 |
|
|
= |
35,000 |
|
100 |
|
54,500 |
|
(ix) |
Purchased motorcycle for cash |
(20,000) |
|
|
|
|
|
|
|
20,000 |
= |
|
|
|
|
|
|
|
Total |
34,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
+ |
20,000 |
= |
35,000 |
+ |
100 |
+ |
54,400 |
|
Balance Sheet |
|||
|
Liabilities |
Rs. |
Assets |
Rs. |
|
20,000 |
|||
|
|
89,500 |
|
89,500 |
Solution 14
|
Sr. No. |
Transactions |
Assets |
= |
Liabilities + Capital |
|||||||
|
Cash Rs. |
+ |
Stock Rs. |
= |
Creditors Rs. |
+ |
Outstanding Rent Rs. |
+ |
Capital Rs. |
|
||
|
(i) |
Started business with cash Rs.50,000 and goods Rs.30,000 |
50,000 |
|
30,000 |
= |
|
|
|
|
80,000 |
|
|
|
|
50,000 |
|
30,000 |
= |
|
|
|
|
80,000 |
|
|
(ii) |
Purchased goods for cash Rs.30,000 and on credit from Kiran Rs.20,000 |
(30,000) |
|
30,000
20,000 |
|
20,000 |
|
|
|
|
|
|
|
|
20,000 |
|
80,000 |
= |
20,000 |
|
|
|
80,000 |
|
|
(iii) |
Goods costing Rs.40,000 were sold for Rs.55,000 |
55,000 |
|
(40,000) |
|
|
|
|
|
15,000 (Profit) |
|
|
|
|
75,000 |
|
40,000 |
= |
20,000 |
|
|
|
95,000 |
|
|
(iv) |
Withdraw cash for personal use Rs.10,000 |
(10,000) |
|
|
|
|
|
|
|
(10,000) (Drawings) |
|
|
|
|
65,000 |
|
40,000 |
= |
20,000 |
|
|
|
85,000 |
|
|
(v) |
Rent outstanding Rs.2,000 |
|
|
|
|
|
|
2,000 |
|
(2,000) (Expenses) |
|
|
|
Total |
65,000 |
+ |
40,000 |
= |
20,000 + |
|
2,000 |
+ |
83,000 |
|
Accounting Equation Exercise 5.21
Solution 15
|
Sr. No. |
Transactions |
Assets |
= |
Liabilities + Capital |
||||||
|
Cash + Rs. |
Bank + Rs. |
Stock + Rs. |
Machinery + Rs. |
Furniture + Rs. |
DebtoRs.+ Rs. |
Bills Receivables Rs. |
= |
Capital Rs. |
||
|
(1) |
Started business with cash Rs.50,000 and Bank Rs.1,00,000 Stock Rs.60,000 Machinery Rs.1,00,000 Furniture Rs.50,000 |
50,000 |
1,00,000 |
60,000 |
1,00,000 |
50,000 |
|
|
|
1,50,000
60,000 1,00,000 50,000 |
|
|
|
50,000 |
1,00,000 |
60,000 |
1,00,000 |
50,000 |
|
|
= |
3,60,000 |
|
(ii) |
1/3rd of above goods sold at a profit of 10% on cost and half of it received in cash (WN) |
11,000 |
|
(20,000) |
|
|
11,000 |
|
|
2,000 (Profit) |
|
|
|
61,000 |
1,00,000 |
40,000 |
1,00,000 |
50,000 |
11,000 |
|
= |
3,62,000 |
|
(iii) |
Depreciate machinery by 10% (Rs.1,00,000 × 10%) |
|
|
|
(10,000) |
|
|
|
|
(10,000) Expense |
|
|
|
61,000 |
1,00,000 |
40,000 |
90,000 |
50,000 |
11,000 |
|
= |
3,52,000 |
|
(iv) |
Cash withdrawn for personal use |
(10,000) |
|
|
|
|
|
|
= |
(10,000) |
|
|
|
51,000 |
1,00,000 |
40,000 |
90,000 |
50,000 |
11,000 |
|
= |
3,42,000 |
|
(v) |
Interest on drawings charged @ 5% |
|
|
|
|
|
|
|
|
(500) 500 |
|
|
|
51,000 |
1,00,000 |
40,000 |
90,000 |
50,000 |
11,000 |
|
= |
3,42,000 |
|
(vi) |
Goods sold to Gupta for Rs.10,000 and received a Bill Receivable for the same amount |
|
|
(10,000) |
|
|
|
10,000 |
|
|
|
|
|
51,000 |
1,00,000 |
30,000 |
90,000 |
50,000 |
11,000 |
10,000 |
= |
3,42,000 |
|
(vii) |
Received Rs.10,000 from Gupta against the Bill Receivable on its maturity |
10,000 |
|
|
|
|
|
(10,000) |
|
|
|
|
Total |
61,000 + |
1,00,000 |
30,000 + |
90,000 + |
50,000 + |
11,000 + |
NIL |
= |
3,42,000 |
Working Note:
Rs.60,000 × 1/3 = Rs.20,000 × 110% = Rs.22,000
Half received in Cash = Rs.11,000
Solution 16
|
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 good for cash Rs.20,000 and credit Rs.30,000 |
(20,000) |
|
50,000 |
|
|
|
30,000 |
|
|
|
|
|
80,000 |
|
50,000 |
|
|
|
30,000 |
|
1,00,000 |
|
(iii) |
Sold goods for cash Rs.10,000 and credit 15,000 both at profit of 20% |
12,000 |
|
(25,000) |
|
18,000 |
= |
|
|
5,000 (Profit) |
|
|
|
92,000 |
|
25,000 |
|
18,000 |
= |
30,000 |
|
1,05,000 |
|
(iv) |
Paid Salaries Rs.8,000 |
(8,000) |
|
|
|
|
|
|
|
(8,000) |
|
|
Total |
84,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
97,000 |
Solution 17
|
Sr. No. |
Transactions |
Assets |
= |
Liabilities + Capital |
|||||||
|
Cash Rs. |
+ |
Stock Rs. |
+ |
Debtors Rs. |
+ |
= |
Creditors Rs. |
+ |
Capital Rs. |
||
|
(i) |
Ram started business with cash Rs.1,00,000 |
25,000 |
|
|
|
|
|
|
|
|
25,000 |
|
|
|
25,000 |
|
|
|
|
|
= |
|
|
25,000 |
|
(ii) |
purchased good form Shyam credit costing Rs.10,000 |
|
|
10,000 |
|
|
|
|
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
25,000 |
+ |
10,000 |
+ |
|
|
= |
10,000 |
|
25,000 |
|
(iii) |
Sold goods to Sohan costing Rs.1,500 for Rs.1,800 |
|
|
(1,500) |
|
1,800 |
|
|
|
|
300 |
|
|
|
|
|
|
|
|
|
|
|
(Profit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
25,000 |
+ |
8,500 |
+ |
1,800 |
|
= |
10,000 |
+ |
25,300 |
Solution 18
|
-- Rs.2,80,000 |
Total Assets of the business is Rs.2,80,000
Solution 19
|
-- Rs.50,000 |
Creditors is Rs.50,000.
Solution 20
|
-- Rs.-10,000 |
Solution 21
|
2,20,000 |
Total Assets of the business is Rs.2,20,000
Accounting Equation Exercise 5.22
Solution 22
|
-- Rs.75,000 |
Solution 23
|
Total Assets |
= |
Rs.90,000 |
|
|
|
|
|
--- Rs.- Rs.. Revised Capital |
= |
Rs.72,500 |
|
|
|
|
|
ii. Assets |
= |
Rs.87,500 |
Solution 24
|
Mohan Started the Business |
|
|
|
a. Capital on 31st March 2019 |
= |
Capital on April 01,2018 + Profit - Drawings |
|
|
= |
Rs.10,000 + Rs.5,000 - Rs.4,000 |
|
|
= |
Rs.11,000 |
|
Mahesh Started the Business |
|
|
|
b. Total Assets on 31st March 2019 |
= |
Capital on April 01, 2018 + Profit + Creditors |
|
|
= |
Rs.15,000 + Rs.3,000 + Rs.2,500 |
|
|
= |
Rs.20,500 |
Solution 25
|
Mohan Started the Business |
|
|
|
Capital on 31st March 2019 |
= |
Assets - Loan from Shyam |
|
|
= |
Rs.75,000 - Rs.12,500 |
|
|
= |
Rs.62,500 |
|
|
|
|
|
Profit (or Loss) during the year 2018 - 19 |
= |
Capital on March 31, 2019 + Drawings - (Capital on April 01, 2018 +Additional Capital) |
|
|
= |
Rs.62,500 + Rs.7,500 - ( Rs.25,000 + Rs.12,500) |
|
|
= |
Rs.70,000 - Rs.37,500 |
|
|
= |
Rs.32,500 |
Solution 26
|
Capital on 31st March 2019 |
= |
Total Assets - External Liabilities |
|
|
= |
Rs.2,00,000 - Rs.6,000 |
|
|
= |
Rs.1,94,000 |
|
|
|
|
|
Capital on 01st April 2018 |
= |
Capital on March 31, 2019 - Additional Capital + Drawings - Profit |
|
|
= |
Rs.1,94,000 - Rs.20,000 + Rs.12,000 - Rs.20,000 |
|
|
= |
Rs.1,66,000 |
Solution 27
|
Sr. No. |
Transactions |
|
Assets |
= |
Liabilities + Capital |
|||||||||||
|
Cash Rs. |
+ |
Bank Rs. |
+ |
Building and Furniture Rs. |
+ |
Stock Rs. |
+ |
Debtors Rs. |
= |
Creditors Rs. |
+ |
Security Deposit Rs. |
+ |
Capital Rs. |
||
|
(i) |
Sunil started business with cash Rs.1,50,000 |
1,50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
1,50,000 |
|
|
|
1,50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
1,50,000 |
|
(ii) |
Opened Bank Account by depositing Rs.25,000 from cash |
(25,000) |
|
25,000 |
|
|
|
|
|
|
= |
|
|
|
|
|
|
|
|
1,25,000 |
|
25,000 |
|
|
|
|
|
|
= |
|
|
|
|
1,50,000 |
|
(iii) |
Sold personal car for Rs.50,000 and deposited money in Bank A/c |
|
|
50,000 |
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
|
|
|
1,25,000 |
|
75,000 |
|
|
|
|
|
|
= |
|
|
|
|
2,00,000 |
|
(iv) |
Building and Furniture purchased for Rs.1,00,000 |
(1,00,000) |
|
|
|
1,00,000 |
|
|
|
|
= |
|
|
|
|
|
|
|
|
25,000 |
|
75,000 |
|
1,00,000 |
|
|
|
|
= |
|
|
|
|
2,00,000 |
|
(v) |
Purchased goods from Ram on credit |
|
|
|
|
|
|
50,000 |
|
|
= |
50,000 |
|
|
|
|
|
|
|
25,000 |
|
75,000 |
|
1,00,000 |
|
50,000 |
|
|
= |
50,000 |
|
|
|
2,00,000 |
|
(vi) |
Paid Cartage Rs.500 |
(500) |
|
|
|
|
|
|
|
|
= |
|
|
|
|
(500) (Exp.) |
|
|
|
24,500 |
|
75,000 |
|
1,00,000 |
|
50,000 |
|
|
= |
50,000 |
|
|
|
1,99,500 |
|
(vii) |
Sold to Shyam on credit goods costing Rs.6,000 for Rs.9,000 |
|
|
|
|
|
|
(6,000) |
|
9,000 |
= |
|
|
|
|
3,000 (Profit)
|
|
|
|
24,500 |
|
75,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
|
|
2,02,500 |
|
(viii) |
Received rent from tenants of Rs.1,000 |
1,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
1,000 (Income) |
|
|
|
25,500 |
|
75,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
|
|
2,03,500 |
|
(ix) |
Received Security Deposits from tenants of Rs.1,500 |
1,500 |
|
|
|
|
|
|
|
|
= |
|
|
1,500 |
|
|
|
|
|
27,000 |
|
75,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
1,500 |
|
2,03,500 |
|
(x) |
Purchased Stationery for Cash of Rs.100 |
(100) |
|
|
|
|
|
|
|
|
= |
|
|
|
|
(100) (Exp.) |
|
|
|
26,900 |
|
75,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
1,500 |
|
2,03,400 |
|
(xi) |
Invested in Shares (personal) Rs.50,000 |
|
|
(50,000) |
|
|
|
|
|
|
= |
|
|
|
|
(50,000) (Drawings) |
|
|
|
26,900 |
|
25,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
1,500 |
|
1,53,400 |
|
(xii) |
Received Interest of Rs.200 in Cash |
200 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
200 (Income) |
|
|
|
27,100 |
|
25,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
1,500 |
|
1,53,600 |
|
(xiii) |
Introduced fresh Capital of Rs.25,000 |
25,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
25,000
|
|
|
|
52,100 |
|
25,000 |
|
1,00,000 |
|
44,000 |
|
9,000 |
= |
50,000 |
|
1,500 |
|
1,78,600 |
|
(xiv) |
Goods of Rs.500 were destroyed by fire |
|
|
|
|
|
|
(500) |
|
|
= |
|
|
|
|
(500) (Loss) |
|
|
Total |
52,100 |
+ |
25,000 |
+ |
1,00,000 |
+ |
43,500 |
+ |
9,000 |
= |
50,000 |
+ |
1,500 |
+ |
1,78,100 |