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
(vi) Purchased goods for cash 1000
(vii) Withdrew for personal use 700
(viii) Paid to creditors 400
(ix) Paid for salaries 200

(B). Prove that the Accounting Equation is satisfied in all the following transactions of Rajaram. Also prepare a Balance Sheet

1 Started business with Cash ₹1,20,000.
2 Purchased a typewriter for Cash for ₹8,000 for office use.
3 Purchased goods for ₹50,000 for cash.
4 Purchased goods for ₹40,000 on credit.
5 Goods costing ₹60,000 sold for ₹80,000 on credit.
6 Paid for Rent ₹1,500 and for salaries ₹2,000.
7 Received ₹800 for Commission.
8 Withdrew for private use ₹5,000 in cash.

D.K.Goel/2024 Edition/Practical Questions/Q-02

For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company

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