Chapter 5

9. (A). Prepare Accounting Equation from the following: Started business with cash ₹75,000 and goods ₹25,000. Paid for Rent ₹2,000. Bought goods for cash ₹30,000 and on credit for ₹44,000. Goods costing ₹50,000 sold at a profit of 25%, out of which ₹27,500 received in Cash. Purchased a Motor-cycle for personal use ₹20,000. Q.9 (B). … Read more

8. Prepare the Accounting Equation on the basis of the following: (a) Started business with cash ₹1,40,000 and Stock ₹2,50,000. (b) Sold goods (costing ₹50,000) at a profit of 25% on cost. (c) Deposited into bank account ₹1,80,000.  (d) Purchased goods from Mohan ₹80,000. D.K.Goel/2024 Edition/Practical Questions/Q-08 For full question, please refer to the text … Read more

7. Use Accounting Equation to show the effect of the following transactions of M/s Royal Traders: ₹ (a) Started Business with Cash 1,20,000 (b) Purchased goods for cash 10,000 (c) Rent received 5,000 (d) Salary outstanding 2,000 (e) Received interest 700 (f) Sold goods for cash (costing ₹5,000) 7,000 (g) Goods destroyed by fire 500 … Read more

6. What will be the effect of the following on the Accounting Equation? (i) Harish started business with cash ₹1,80,000. (ii) Purchased goods for cash ₹60,000 and on credit ₹30,000. (iii) Sold goods for cash ₹40,000; costing ₹24,000. (iv) Rent paid ₹5,000; and rent outstanding ₹2,000. (v) Sold goods on credit ₹50,000 (costing ₹38,000). (vi) … Read more

5. Mohit has the following transactions, prepare Accounting Equation: ₹ (a) Business started with cash 1,75,000 (b) Purchased goods from Rohit 50,000 (c) Sold 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) … Read more

4. 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 purchased goods on credit 40,000 (e) He sold goods (Costing ₹20,000) for cash 26,000 (NCERT Q. 2) D.K.Goel/2024 Edition/Practical Questions/Q-04 For full question, please refer to … Read more

3. Prepare Accounting Equation from the following: Started business with Cash ₹2,00,000. Purchased goods for Cash ₹60,000 and on Credit ₹1,50,000. Sold goods for Cash costing ₹40,000 at a profit of 20% and on Credit costing ₹72,000 at a profit of 25%. Paid for Rent ₹5,000. D.K.Goel/2024 Edition/Practical Questions/Q-03 For full question, please refer to … Read more

2. (A). 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 cash 50,000 (ii) Bought furniture for 500 (iii) Purchased goods on credit 4,000 (iv) Sold goods on cash (cost ₹500) for 700 (v) Received rent 200 … Read more

1. Prepare Accounting Equation from the following: ₹ 1 Sandeep started business with Cash 1,00,000 2 Purchased furniture for cash 5,000 3 Purchased goods for cash 20,000 4 Purchased goods on credit 36,000 5 Paid for rent 700 6 Goods costing ₹40,000 sold at a profit of 20% for cash D.K.Goel/2024 Edition/Practical Questions/Q-01 For full … Read more