10. Bobby opened a consulting firm and completed these transactions during November, 2017: (a) Invested ₹4,00,000 cash and office equipment with ₹1,50,000 in a business called Bobbie Consulting. (b) Purchased land and a small office building. The land was worth ₹1,50,000 and the building worth ₹3, 50,000. The purchase price was paid with ₹2,00,000 cash … Read more
9. Transactions of M/s Vipin Traders are given below. Show the effects on Assets, Liabilities and Capital with the help of Accounting Equation. (a) Business started with cash ₹1,25,000 (b) Purchased goods for cash ₹50,000 (c) Purchase furniture from R.K. Furniture ₹10,000 (d) Sold goods to Parul Traders (Costing ₹7,000 vide ₹9,000 bill no. 5674) … Read more
8. Show the effect of following transaction on the accounting equation: (a) Manoj started business with (i) Cash ₹2,30,000 (ii) Goods ₹1,00,000 (iii) Building ₹2,00,000 (b) He purchased goods for cash ₹50,000 (c) He sold goods (costing ₹20,000) ₹35,000 (d) He purchased goods from Rahul ₹55,000 (e) He sold goods to Varun (Costing ₹52,000) ₹60,000 … Read more
7. Show the effect of the following transactions on Assets, Liabilities and Capital through accounting equation: (a) Started business with cash ₹1,20,000 (b) Rent received ₹10,000 (c) Invested in shares ₹50,000 (d) Received dividend ₹5,000 (e) Purchase goods on credit from Ragani ₹35,000 (f) Paid cash for house hold Expenses ₹7,000 (g) Sold goods for … Read more
6. Show the accounting equation on the basis of the following transaction: (a) Udit started business with: (i) Cash ₹5,00,000 (ii) Goods ₹1,00,000 (b) Purchased building for cash ₹2,00,000 (c) Purchased goods from Himani ₹50,000 (d) Sold goods to Ashu (Cost ₹25,000) ₹36,000 (e) Paid insurance premium ₹3,000 (f) Rent outstanding ₹5,000 (g) Depreciation on … Read more
5. Use accounting equation to show the effect of the following transactions of M/s Royal Traders: (a) Commenced business with cash ₹1,50,000 (b) Purchased machinery on credit ₹40,000 (c) Purchased goods for cash ₹20,000 (d) Purchased car for personal use ₹80,000 (e) Paid to creditors in full settlement ₹38,000 (f) Sold goods for cash costing … Read more
4. Rohit has the following transactions: (a) Commenced business with cash ₹1,50,000 (b) Purchased machinery on credit ₹40,000 (c) Purchased goods for cash ₹20,000 (d) Purchased car for personal use ₹80,000 (e) Paid to creditors in full settlement ₹38,000 (f) Sold goods for cash costing ₹5,000 ₹4,500 (g) Paid rent ₹1,000 (h) Commission received in … Read more
3. Mohit has the following transactions, prepare accounting equation: (a) Business started with cash ₹1,75,000 (b) Purchased goods from Rohit ₹50,000 (c) Sales goods on credit to Manish (Costing ₹17,500) ₹20,000 (d) Purchased furniture for office use ₹10,000 (e) Cash paid to Rohit in full settlement ₹48,500 (f) Cash received from Manish ₹20,000 (g) Rent … Read more
2. Prepare accounting equation from the following: (a) Kunal started business with cash ₹2,50,000 (b) He purchased furniture for cash ₹35,000 (c) He paid commission ₹2,000 (d) He purchases goods on credit ₹40,000 (e) He sold goods (Costing ₹20,000) for cash ₹26,000 NCERT/Numerical Questions/Q-02 Answer : Back
1. Prepare accounting equation on the basis of the following: (a) Harsha started business with cash ₹2,00,000 (b) Purchased goods from Naman for cash ₹40,000 (c) Sold goods to Bhanu costing ₹10,000/- ₹12,000 (d) Bought furniture on credit ₹7,000 NCERT/Numerical Questions/Q-01 Answer : Back