15. Show an Accounting Equation for the following transactions: (i) D. Mahapatra commenced business with cash ₹50,000 and ₹1,00,000 by cheque; goods ₹ 60,000; machinery ₹1,00,000 and furniture ₹50,000. (ii) 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Depreciation on … Read more
14. Prepare an Accounting Equation from the following: (a) Started business with cash ₹1,00,000. (b) Purchased goods for cash ₹20,000 and on credit ₹30,000. (c) Sold goods for cash costing ₹ 10,000 and on credit costing ₹15,000 both at a profit of 20%. (d) Paid salaries ₹8,000. (Delhi) T.S.Grewal/2024 Edition/Practical Problems/Q-14 For full question, … Read more
13. Prepare an Accounting Equation from the following: (i) Started business with cash ₹50,000 and goods ₹30,000. (ii) Purchased goods for cash ₹30,000 and on credit from Karan ₹20,000. (iii) Goods costing ₹40,000 were sold for ₹55,000. (iv) Withdrew cash for personal use ₹10,000. (v) Rent outstanding ₹2,000. (MSE Chandigarh) T.S.Grewal/2024 Edition/Practical Problems/Q-13 For … Read more
12. Raghunath had the following transactions in an accounting year: ₹ (i) Commenced business with cash 50,000 (ii) Paid into bank 10,000 (iii) Purchased goods for cash ₹20,000 and credit 30,000 (iv) Sold goods for cash costing ₹30,000 for 40,000 (v) Rent paid 500 (vi) Rent outstanding 100 (vii) Bought furniture on credit 5,000 (viii) … Read more
11. Show the effect of the following transactions and also prepare a Balance Sheet: ₹ (i) Started business with cash 60,000 (ii) Rent received 2,000 (iii) Accrued interest 500 (iv) Commission received in advance 1,000 (v) Amount withdrawn 5,000 T.S.Grewal/2024 Edition/Practical Problems/Q-11 For full question, please refer to the text book T.S.Grewal’s Double Entry … Read more
10. Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet. ₹ (i) Commenced business with cash 60,000 (ii) Paid rent in advance 500 (iii) Purchased goods for cash ₹30,000 and credit 20,000 (iv) Sold goods for cash ₹30,000 costing 20,000 (v) Paid salary ₹500 and … Read more
9. 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) Sold goods for cash (costing ₹5,000) 7,000 (f) Goods destroyed by fire 500 (KVS) T.S.Grewal/2024 Edition/Practical Problems/Q-09 For full question, … Read more
8. What will be the effect of the following on the Accounting Equation? (i) Harish started business with cash ₹ 18,000 (ii) Purchased goods for cash ₹5,000 and on credit ₹2,000 (iii) Sold goods for cash ₹4,000 (costing ₹ 2,400) (iv) Rent paid ₹1,000 and rent outstanding ₹200 T.S.Grewal/2024 Edition/Practical Problems/Q-08 For full question, … Read more
7. Show the effect of the following transactions on the Accounting Equation: ₹ (i) Started business with cash 50,000 (ii) Salaries paid 2,000 (iii) Wages outstanding 200 (iv) Interest due but not paid 100 (v) Rent paid in advance 150 T.S.Grewal/2024 Edition/Practical Problems/Q-07 For full question, please refer to the text book T.S.Grewal’s Double … Read more
6. Prepare an Accounting Equation on the basis of the following transactions: ₹ (i) Started business with cash 70,000 (ii) Credit purchase of goods 18,000 (iii) Payment made to creditors in full settlement 17,500 (iv) Purchase of machinery for cash 20,000 (v) Depreciation on machinery 2,000 T.S.Grewal/2024 Edition/Practical Problems/Q-06 For full question, please refer … Read more