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...

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...

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...

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...

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...

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...

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)...

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,...

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...

10. If the Capital of a business is ₹1,20,000 and Outside liabilities are ₹20,000 calculate total assets of the business. D.K.Goel/2024 Edition/Practical Questions/Q-10 For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company Answer : Back

11. If total assets of a business are ₹1,30,000 and capital is ₹80,000, calculate creditors. D.K.Goel/2024 Edition/Practical Questions/Q-11 For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company Answer : Back

12. ‘A’ commenced his cloth business on 1st April, 2022 with a capital of ₹3,00,000. On 31st March, 2023 his assets were worth ₹5,00,000 and liabilities ₹1,00,000. Find out his closing capital and profits earned during the year. D.K.Goel/2024 Edition/Practical Questions/Q-12 For full question, please refer to the text book...

13. (a) Yogesh commenced business on 1st April, 2017 with a Capital of ₹5,00,000 and a loan of ₹1,00,000 borrowed from Citi Bank. On 31st March, 2018, his assets were ₹8,00,000. Calculate his closing capital and profits earned during the year. (b) If in the above case, the proprietor had...

14. Give one example of each of the following transactions : (i) Increase in an asset and a liability. (ii) Decrease in an asset and a liability. (iii) Increase in assets and capital. (iv) Decrease in assets and capital. D.K.Goel/2024 Edition/Practical Questions/Q-14 For full question, please refer to the text...

15. On which side the increase in the following accounts will be recorded? Also mention the nature of account 1. Furniture 2. Rent Paid 3. Commission Received 4. Salary Paid 5. Proprietor’s Account 6. Debtor 7. Creditor D.K.Goel/2024 Edition/Practical Questions/Q-15 For full question, please refer to the text book Accountancy...

16. On which side the decrease in the following accounts will be recorded? Also mention the nature of account 1. Cash 2. Bank Overdraft 3. Rent Paid 4. Outstanding Rent 5. Prepaid Insurance 6. Manoj, Proprietor of the business D.K.Goel/2024 Edition/Practical Questions/Q-16 For full question, please refer to the text...

17. From the following transactions, state the nature of accounts and state the accounts which will be debited and credited: Ganesh started business with Cash ₹2,00,000. Purchased goods for Cash ₹60,000. Sold goods for cash ₹75,000. Purchased goods from Nakul on Credit for ₹80,000. Sold goods to Bhushan on Credit...

18. Open T’ shape account for Machinery and write the following on the proper side : ₹ 1. Machinery purchased for 5,00,000 2. Machinery sold 1,20,000 3. Machinery discarded 50,000 4. New Machinery purchased 2,00,000 5. Machinery destroyed 40,000 D.K.Goel/2024 Edition/Practical Questions/Q-18 For full question, please refer to the text...

19. Open “T’ shape account of our creditor ‘Raghubir’ and write the following transactions on the proper side: 1. Purchased goods from Raghubir on credit for ₹50,000. 2. Returned goods to Raghubir for ₹5,000. 3. Paid to Raghubir ₹30,000. 4. Purchased goods from Raghubir on credit for ₹16,000. 5. Paid...

20. Put the following on the proper side of Cash account, Debtor’s account and Creditor’s account: (a) Sold goods for cash ₹60,000. (b) Sold goods to Hari on credit ₹20,000. (c) Purchased goods from Krishan on credit ₹36,000. (d) Purchased goods from Krishan for cash ₹10,000. (e) Cash received from...

21. From the following particulars, prepare the Proprietor’s Capital A/c ₹ 2017 April 1 Started business with 45,000 May 10 Withdrew from business for personal use 10,000 July 15 Further capital introduced 55,000 Nov. 30 Income tax paid 5,000 2018 March 31 Profit for the year 30,000 D.K.Goel/2024 Edition/Practical Questions/Q-21...

22. Prepare Accounting Equation on the basis of the following transactions: (a) Started business with cash ₹70,000. (b) Credit purchase of goods ₹18,000. (c) Payment made to creditors in full settlement ₹17,500. (d) Purchase of machinery for cash ₹20,000.   D.K.Goel/2024 Edition/Practical Questions/Q-22 For full question, please refer to the...

23. Prepare accounting equation from the following: (a) Started business with cash ₹50,000 and goods ₹30,000. (b) Purchased goods for cash ₹30,000 and on credit from Karan ₹20,000. (c) Goods costing ₹40,000 were sold for ₹55,000 for cash. (d) Withdrew cash for personal use ₹10,000. (e) Rent outstanding ₹2,000.  ...

24. Show the accounting equation on the basis of the following transactions and present a Balance Sheet of the last new equation balance: ₹ (i) Mohan commenced business with 70,000 (ii) Purchased goods on Credit 14,000 (iii) Withdrew for private use 1,700 (iv) Purchased goods for Cash 10,000 (v) Paid...

25. Prove that the accounting equation is satisfied in the following transactions ₹ (a) Brij Mohan commenced business with Cash 1,00,000 (b) Bought goods for Cash 60,000 (c) 1/3rd of the above goods sold at a profit of 20% on cost. Half the payment received in Cash (d) Purchased typewriter...

26. Show the accounting equation on the basis of the following transactions and also show the Balance Sheet: (i) Started business with Cash ₹60,000. and Goods ₹30,000. (ii) Purchased goods for Cash ₹40,000 and on Credit ₹25,000. (iii) Goods costing ₹48,000 sold at a profit of 33⅓%. Three-fourth payment received...

27. Show the accounting equation on the basis of following transactions : (i) Commenced business with Cash ₹20,000; Goods ₹50,000 and Furniture ₹30,000. (ii) Purchased goods from Gopal on Credit ₹40,000. (iii) Sold goods for Cash ₹40,000 (Costing ₹30,000). (iv) Sold goods to Ram on Credit ₹65,000 (Costing ₹50,000). (v)...

28. Prove that accounting equation is satisfied in all the following cases: (a) Commenced business with cash ₹50,000. (b) Paid rent ₹4,000 including ₹1,000 as advance.  (c) Bought goods for cash ₹30,000 and on credit ₹20,000.  (d) Sold the goods bought on credit for ₹25,000. (e) Purchased furniture worth ₹10,000...

29. Prepare accounting equation from the following:  (a) Started business with cash ₹40,000, Goods ₹50,000 and furniture ₹75,000. (b) Charge Depreciation @ 10% on Furniture. (c) Goods costing ₹10,000 sold for ₹11,000 in cash.  (Delhi 2020)   D.K.Goel/2024 Edition/Practical Questions/Q-29 For full question, please refer to the text book Accountancy...