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Page No 6.15:
Question 1:
Answer:
S. No.
|
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Bank (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash |
45,000 |
|
|
|
|
= |
|
|
45,000 |
|
|
45,000 |
|
|
|
|
= |
|
|
45,000 |
(ii) |
Opened a Bank Account with a deposit |
– 4,500 |
+ |
4,500 |
|
|
= |
|
|
|
|
|
40,500 |
+ |
4,500 |
|
|
= |
|
|
45,000 |
(iii) |
Bought goods from M/s. Sun & Co. |
|
|
|
|
11,200 |
= |
11,200 |
|
|
|
|
40,500 |
+ |
4,500 |
+ |
11,200 |
= |
11,200 |
+ |
45,000 |
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
= |
|
Cash + Bank + Stock |
|
= |
|
40,500 + 4,500 + 11,200 |
|
= |
Rs |
56,200 |
Liabilities |
= |
|
11,200 |
Capital |
= |
|
45,000 |
Page No 6.15:
Question 2:
S. No.
|
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Bank (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash |
45,000 |
|
|
|
|
= |
|
|
45,000 |
|
|
45,000 |
|
|
|
|
= |
|
|
45,000 |
(ii) |
Opened a Bank Account with a deposit |
– 4,500 |
+ |
4,500 |
|
|
= |
|
|
|
|
|
40,500 |
+ |
4,500 |
|
|
= |
|
|
45,000 |
(iii) |
Bought goods from M/s. Sun & Co. |
|
|
|
|
11,200 |
= |
11,200 |
|
|
|
|
40,500 |
+ |
4,500 |
+ |
11,200 |
= |
11,200 |
+ |
45,000 |
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
= |
|
Cash + Bank + Stock |
|
= |
|
40,500 + 4,500 + 11,200 |
|
= |
Rs |
56,200 |
Liabilities |
= |
|
11,200 |
Capital |
= |
|
45,000 |
Answer:
S. No |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Gopinath Started business with |
25,000 |
|
|
|
|
= |
|
|
25,000 |
|
|
25,000 |
|
|
|
|
= |
|
|
25,000 |
(ii) |
Purchased goods from Shyam |
|
|
10,000 |
|
|
|
10,000 |
|
|
|
|
25,000 |
+ |
10,000 |
|
|
= |
10,000 |
+ |
25,000 |
(iii) |
Sold goods to Sohan |
|
|
– 1,800 |
+ |
1,500 |
= |
|
|
– 300 |
|
|
25,000 |
+ |
8,200 |
+ |
1,500 |
= |
10,000 |
+ |
24,700 |
(iv) |
Gopinath withdrew from business |
–5,000 |
|
|
|
|
= |
|
|
– 5,000 |
|
|
20,000 |
+ |
8,200 |
+ |
1,500 |
= |
10,000 |
+ |
19,700 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
20,000 + 8,200 + 1,500 |
|
= |
Rs |
29,700 |
Liabilities |
= |
Rs |
10,000 |
Capital |
= |
Rs |
19,700 |
Page No 6.16:
Question 3:
S. No |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Gopinath Started business with |
25,000 |
|
|
|
|
= |
|
|
25,000 |
|
|
25,000 |
|
|
|
|
= |
|
|
25,000 |
(ii) |
Purchased goods from Shyam |
|
|
10,000 |
|
|
|
10,000 |
|
|
|
|
25,000 |
+ |
10,000 |
|
|
= |
10,000 |
+ |
25,000 |
(iii) |
Sold goods to Sohan |
|
|
– 1,800 |
+ |
1,500 |
= |
|
|
– 300 |
|
|
25,000 |
+ |
8,200 |
+ |
1,500 |
= |
10,000 |
+ |
24,700 |
(iv) |
Gopinath withdrew from business |
–5,000 |
|
|
|
|
= |
|
|
– 5,000 |
|
|
20,000 |
+ |
8,200 |
+ |
1,500 |
= |
10,000 |
+ |
19,700 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
20,000 + 8,200 + 1,500 |
|
= |
Rs |
29,700 |
Liabilities |
= |
Rs |
10,000 |
Capital |
= |
Rs |
19,700 |
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||
Cash (Rs) |
+ |
Advances Expenses (Rs) |
= |
Outstanding Expenses (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash |
50,000 |
|
|
= |
|
|
50,000 |
|
|
50,000 |
|
|
= |
|
|
50,000 |
(ii) |
Salaries paid |
– 2,000 |
|
|
= |
|
|
– 2,000 (expenses) |
|
|
48,000 |
|
|
= |
|
|
48,000 |
(iii) |
Wages Outstanding |
|
|
|
= |
200 |
+ |
– 200 (expenses) |
|
|
4,800 |
|
|
= |
200 |
|
47,800 |
(iv) |
Interest due but not paid |
|
|
|
= |
100 |
+ |
– 100 (expenses) |
|
|
48,000 |
|
|
= |
300 |
+ |
47,700 |
(v) |
Rent paid in advance |
– 150 |
+ |
150 |
= |
|
|
|
|
|
47,850 |
+ |
150 |
= |
300 |
+ |
47,700 |
|
|
|
|
|
|
|
|
|
Assets |
= |
|
47,850 + 150 |
|
= |
Rs |
48,000 |
Liabilities |
= |
Rs |
300 |
Capital |
= |
Rs |
47,700 |
Page No 6.16:
Question 4:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||
Cash (Rs) |
+ |
Advances Expenses (Rs) |
= |
Outstanding Expenses (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash |
50,000 |
|
|
= |
|
|
50,000 |
|
|
50,000 |
|
|
= |
|
|
50,000 |
(ii) |
Salaries paid |
– 2,000 |
|
|
= |
|
|
– 2,000 (expenses) |
|
|
48,000 |
|
|
= |
|
|
48,000 |
(iii) |
Wages Outstanding |
|
|
|
= |
200 |
+ |
– 200 (expenses) |
|
|
4,800 |
|
|
= |
200 |
|
47,800 |
(iv) |
Interest due but not paid |
|
|
|
= |
100 |
+ |
– 100 (expenses) |
|
|
48,000 |
|
|
= |
300 |
+ |
47,700 |
(v) |
Rent paid in advance |
– 150 |
+ |
150 |
= |
|
|
|
|
|
47,850 |
+ |
150 |
= |
300 |
+ |
47,700 |
|
|
|
|
|
|
|
|
|
Assets |
= |
|
47,850 + 150 |
|
= |
Rs |
48,000 |
Liabilities |
= |
Rs |
300 |
Capital |
= |
Rs |
47,700 |
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Harish started business with cash |
18,000 |
|
|
= |
|
|
|
|
18,000 |
|
|
18,000 |
|
|
= |
|
|
|
|
18,000 |
(ii) |
Purchased goods for Cash Rs 5,000 and on credit Rs 2,000 |
– 5,000 |
+ |
7,000 |
= |
2,000 |
|
|
|
|
|
|
13,000 |
+ |
7,000 |
= |
2,000 |
|
|
+ |
18,000 |
(iii) |
Sold goods for cash Rs 4,000 costing Rs 2,400 |
4,000 |
|
– 2,400 |
= |
|
|
|
|
1,600 (Profit) |
|
|
17,000 |
+ |
4,600 |
= |
2,000 |
|
|
+ |
19,600 |
(iv) |
Rent paid Rs 1,000 and Rent Outstanding Rs 200 |
– 1,000 |
|
|
= |
|
|
200 |
|
– 1,200 |
|
|
16,000 |
+ |
4,600 |
= |
2,000 |
+ |
200 |
+ |
18,400 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
16,000 + 4,600 |
|
= |
Rs |
20,600 |
Liabilities |
= |
|
2,000 + 200 |
|
= |
Rs |
2,200 |
Capital |
= |
Rs |
18,400 |
Page No 6.16:
Question 5:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Harish started business with cash |
18,000 |
|
|
= |
|
|
|
|
18,000 |
|
|
18,000 |
|
|
= |
|
|
|
|
18,000 |
(ii) |
Purchased goods for Cash Rs 5,000 and on credit Rs 2,000 |
– 5,000 |
+ |
7,000 |
= |
2,000 |
|
|
|
|
|
|
13,000 |
+ |
7,000 |
= |
2,000 |
|
|
+ |
18,000 |
(iii) |
Sold goods for cash Rs 4,000 costing Rs 2,400 |
4,000 |
|
– 2,400 |
= |
|
|
|
|
1,600 (Profit) |
|
|
17,000 |
+ |
4,600 |
= |
2,000 |
|
|
+ |
19,600 |
(iv) |
Rent paid Rs 1,000 and Rent Outstanding Rs 200 |
– 1,000 |
|
|
= |
|
|
200 |
|
– 1,200 |
|
|
16,000 |
+ |
4,600 |
= |
2,000 |
+ |
200 |
+ |
18,400 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
16,000 + 4,600 |
|
= |
Rs |
20,600 |
Liabilities |
= |
|
2,000 + 200 |
|
= |
Rs |
2,200 |
Capital |
= |
Rs |
18,400 |
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash Rs 1,00,000 and Goods Rs 20,000 |
1,00,000 |
+ |
20,000 |
|
|
= |
|
|
1,20,000 |
|
|
1,00,000 |
+ |
20,000 |
|
|
= |
|
|
1,20,000 |
(ii) |
Sold goods worth Rs 10,000 for cash Rs 12,000 |
12,000 |
|
– 10,000 |
|
|
= |
|
+ |
2,000 |
|
|
1,12,000 |
+ |
10,000 |
|
|
= |
|
|
1,22,000 |
(iii) |
Purchased furniture on credit for Rs 30,000 |
|
|
|
|
30,000 |
= |
30,000 |
|
|
|
|
1,12,000 |
+ |
10,000 |
+ |
30,000 |
= |
30,000 |
+ |
1,22,000 |
Assets |
= |
|
1,12,000 + 10,000 + 30,000 |
|
= |
Rs |
1,52,000 |
Liabilities |
= |
Rs |
30,000 |
Capital |
= |
Rs |
1,22,000 |
Page No 6.16:
Question 6:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash Rs 1,00,000 and Goods Rs 20,000 |
1,00,000 |
+ |
20,000 |
|
|
= |
|
|
1,20,000 |
|
|
1,00,000 |
+ |
20,000 |
|
|
= |
|
|
1,20,000 |
(ii) |
Sold goods worth Rs 10,000 for cash Rs 12,000 |
12,000 |
|
– 10,000 |
|
|
= |
|
+ |
2,000 |
|
|
1,12,000 |
+ |
10,000 |
|
|
= |
|
|
1,22,000 |
(iii) |
Purchased furniture on credit for Rs 30,000 |
|
|
|
|
30,000 |
= |
30,000 |
|
|
|
|
1,12,000 |
+ |
10,000 |
+ |
30,000 |
= |
30,000 |
+ |
1,22,000 |
Assets |
= |
|
1,12,000 + 10,000 + 30,000 |
|
= |
Rs |
1,52,000 |
Liabilities |
= |
Rs |
30,000 |
Capital |
= |
Rs |
1,22,000 |
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Furniture (Rs) |
+ |
Stock (Rs) |
= |
|
|
(Rs) |
||
(i) |
Ajeeta started business Rs 20,000 |
20,000 |
|
|
|
|
= |
|
|
20,000 |
|
|
20,000 |
|
|
|
|
= |
|
|
20,000 |
(ii) |
He purchased furniture for Rs 2,000 |
– 2,000 |
+ |
2,000 |
|
|
= |
|
|
|
|
|
18,000 |
+ |
2,000 |
|
|
= |
|
|
20,000 |
(iii) |
He paid Rent of Rs 200 |
– 200 |
|
|
|
|
= |
|
|
– 200 (expense) |
|
|
17,800 |
+ |
2,000 |
|
|
= |
|
|
19,800 |
(iv) |
He purchased goods on credit Rs 3,000 |
|
|
|
|
3,000 |
= |
3,000 |
|
|
|
|
17,800 |
+ |
2,000 |
+ |
3,000 |
= |
3,000 |
+ |
19,800 |
(v) |
He sold goods (cost price Rs (2,000) for Rs 5,000 on cash |
5,000 |
+ |
|
+ |
–2,000 |
= |
|
|
3,000 (Profit) |
|
|
22,800 |
+ |
2,000 |
+ |
1,000 |
= |
3,000 |
+ |
22,800 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
22,800 + 2,000 + 1,000 |
|
|
= |
Rs |
25,800 |
Liabilities |
= |
Rs |
3,000 |
Capital |
= |
Rs |
22,800 |
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
22,800 |
Cash |
22,800 |
Creditors |
3,000 |
Furniture |
2,000 |
|
|
Stock |
1,000 |
|
25,800 |
|
25,800 |
|
|
|
|
Page No 6.16:
Question 7:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Furniture (Rs) |
+ |
Stock (Rs) |
= |
|
|
(Rs) |
||
(i) |
Ajeeta started business Rs 20,000 |
20,000 |
|
|
|
|
= |
|
|
20,000 |
|
|
20,000 |
|
|
|
|
= |
|
|
20,000 |
(ii) |
He purchased furniture for Rs 2,000 |
– 2,000 |
+ |
2,000 |
|
|
= |
|
|
|
|
|
18,000 |
+ |
2,000 |
|
|
= |
|
|
20,000 |
(iii) |
He paid Rent of Rs 200 |
– 200 |
|
|
|
|
= |
|
|
– 200 (expense) |
|
|
17,800 |
+ |
2,000 |
|
|
= |
|
|
19,800 |
(iv) |
He purchased goods on credit Rs 3,000 |
|
|
|
|
3,000 |
= |
3,000 |
|
|
|
|
17,800 |
+ |
2,000 |
+ |
3,000 |
= |
3,000 |
+ |
19,800 |
(v) |
He sold goods (cost price Rs (2,000) for Rs 5,000 on cash |
5,000 |
+ |
|
+ |
–2,000 |
= |
|
|
3,000 (Profit) |
|
|
22,800 |
+ |
2,000 |
+ |
1,000 |
= |
3,000 |
+ |
22,800 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
22,800 + 2,000 + 1,000 |
|
|
= |
Rs |
25,800 |
Liabilities |
= |
Rs |
3,000 |
Capital |
= |
Rs |
22,800 |
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
22,800 |
Cash |
22,800 |
Creditors |
3,000 |
Furniture |
2,000 |
|
|
Stock |
1,000 |
|
25,800 |
|
25,800 |
|
|
|
|
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash Rs 1,00,000 |
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
|
|
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
(ii) |
Purchased goods for cash Rs 20,000 and on credit Rs 30,000 |
– 20,000 |
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
30,000 |
|
|
= |
30,000 |
|
|
|
|
80,000 |
+ |
50,000 |
|
|
= |
30,000 |
+ |
1,00,000 |
(iii) |
Sold goods for cash costing Rs 10,000 and on credit costing |
12,000 |
+ |
– 10,000 |
|
|
= |
|
|
2,000 |
|
Rs 15,000 both at a profit of 20% |
|
|
– 15,000 |
+ |
18,000 |
= |
|
|
3,000 |
|
|
92,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
1,05,000 |
|
|
|
|
|
|
|
|
|
|
|
Page No 6.16:
Question 8:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash Rs 1,00,000 |
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
|
|
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
(ii) |
Purchased goods for cash Rs 20,000 and on credit Rs 30,000 |
– 20,000 |
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
30,000 |
|
|
= |
30,000 |
|
|
|
|
80,000 |
+ |
50,000 |
|
|
= |
30,000 |
+ |
1,00,000 |
(iii) |
Sold goods for cash costing Rs 10,000 and on credit costing |
12,000 |
+ |
– 10,000 |
|
|
= |
|
|
2,000 |
|
Rs 15,000 both at a profit of 20% |
|
|
– 15,000 |
+ |
18,000 |
= |
|
|
3,000 |
|
|
92,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
1,05,000 |
|
|
|
|
|
|
|
|
|
|
|
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
|
Mohan commenced business with cash |
50,000 |
|
|
|
|
= |
|
|
50,000 |
|
|
50,000 |
|
|
|
|
= |
|
|
50,000 |
(ii) |
Purchased goods for cash |
– 30,000 |
+ |
30,000 |
|
|
= |
|
|
|
|
|
20,000 |
+ |
30,000 |
|
|
= |
|
|
50,000 |
(iii) |
Purchased goods on credit |
|
|
20,000 |
|
|
= |
20,000 |
|
|
|
|
20,000 |
+ |
50,000 |
|
|
= |
20,000 |
+ |
50,000 |
(iv) |
Sold goods costing Rs 10,000 for Rs 12,000 |
12,000 |
+ |
– 10,000 |
|
|
= |
|
|
2,000 (profit) |
|
|
32,000 |
+ |
40,000 |
|
|
= |
20,000 |
+ |
52,000 |
(v) |
Bought furniture on credit |
|
|
|
|
2,000 |
= |
2,000 |
|
|
|
|
32,000 |
+ |
40,000 |
+ |
2,000 |
= |
22,000 |
+ |
52,000 |
(vi) |
Paid cash to a creditor |
– 15,000 |
|
|
|
|
= |
– 15,000 |
|
|
|
|
17,000 |
+ |
40,000 |
+ |
2,000 |
= |
7,000 |
+ |
52,000 |
(vii) |
Salary Paid |
– 1,000 |
|
|
|
|
= |
|
|
– 1,000 (expenses) |
|
|
16,000 |
+ |
40,000 |
+ |
2,000 |
= |
7,000 |
+ |
51,000 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
16,000 + 40,000 + 2,000 |
|
|
= |
Rs |
58,000 |
Liabilities |
= |
Rs |
7,000 |
Capital |
= |
Rs |
51,000 |
Page No 6.16:
Question 9:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
= |
Creditors (Rs) |
|
(Rs) |
||
|
Mohan commenced business with cash |
50,000 |
|
|
|
|
= |
|
|
50,000 |
|
|
50,000 |
|
|
|
|
= |
|
|
50,000 |
(ii) |
Purchased goods for cash |
– 30,000 |
+ |
30,000 |
|
|
= |
|
|
|
|
|
20,000 |
+ |
30,000 |
|
|
= |
|
|
50,000 |
(iii) |
Purchased goods on credit |
|
|
20,000 |
|
|
= |
20,000 |
|
|
|
|
20,000 |
+ |
50,000 |
|
|
= |
20,000 |
+ |
50,000 |
(iv) |
Sold goods costing Rs 10,000 for Rs 12,000 |
12,000 |
+ |
– 10,000 |
|
|
= |
|
|
2,000 (profit) |
|
|
32,000 |
+ |
40,000 |
|
|
= |
20,000 |
+ |
52,000 |
(v) |
Bought furniture on credit |
|
|
|
|
2,000 |
= |
2,000 |
|
|
|
|
32,000 |
+ |
40,000 |
+ |
2,000 |
= |
22,000 |
+ |
52,000 |
(vi) |
Paid cash to a creditor |
– 15,000 |
|
|
|
|
= |
– 15,000 |
|
|
|
|
17,000 |
+ |
40,000 |
+ |
2,000 |
= |
7,000 |
+ |
52,000 |
(vii) |
Salary Paid |
– 1,000 |
|
|
|
|
= |
|
|
– 1,000 (expenses) |
|
|
16,000 |
+ |
40,000 |
+ |
2,000 |
= |
7,000 |
+ |
51,000 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
16,000 + 40,000 + 2,000 |
|
|
= |
Rs |
58,000 |
Liabilities |
= |
Rs |
7,000 |
Capital |
= |
Rs |
51,000 |
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Machinery (Rs) |
|
(Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 70,000 |
70,000 |
|
|
|
|
|
|
|
70,000 |
|
|
70,000 |
|
|
|
|
|
|
|
70,000 |
(ii) |
Credit purchase of goods Rs 18,000 |
|
|
18,000 |
|
|
= |
18,000 |
|
|
|
|
70,000 |
+ |
18,000 |
|
|
= |
18,000 |
+ |
70,000 |
(iii) |
Payment made to creditor Rs 17,500 in full settlement |
– 17,500 |
|
|
|
|
= |
– 18,000 |
+ |
500 (Discount Received) |
|
|
52,500 |
+ |
18,000 |
|
|
= |
|
|
70,500 |
(iv) |
Purchase of Machinery for Cash Rs 20,000 |
– 20,000 |
|
|
|
20,000 |
|
|
|
|
|
|
32,500 |
+ |
18,000 |
+ |
20,000 |
= |
|
|
70,500 |
(v) |
Depreciation on Machinery Rs 2,000 |
|
|
|
|
– 2,000 |
|
|
|
– 2,000 (Depreciation) |
|
|
32,500 |
+ |
18,000 |
+ |
18,000 |
= |
|
|
68,500 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
32,500 + 18,000 + 18,000 |
|
= |
Rs |
68,500 |
Liabilities |
= |
|
NIL |
Capital |
= |
Rs |
68,500 |
Page No 6.16:
Question 10:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Machinery (Rs) |
|
(Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 70,000 |
70,000 |
|
|
|
|
|
|
|
70,000 |
|
|
70,000 |
|
|
|
|
|
|
|
70,000 |
(ii) |
Credit purchase of goods Rs 18,000 |
|
|
18,000 |
|
|
= |
18,000 |
|
|
|
|
70,000 |
+ |
18,000 |
|
|
= |
18,000 |
+ |
70,000 |
(iii) |
Payment made to creditor Rs 17,500 in full settlement |
– 17,500 |
|
|
|
|
= |
– 18,000 |
+ |
500 (Discount Received) |
|
|
52,500 |
+ |
18,000 |
|
|
= |
|
|
70,500 |
(iv) |
Purchase of Machinery for Cash Rs 20,000 |
– 20,000 |
|
|
|
20,000 |
|
|
|
|
|
|
32,500 |
+ |
18,000 |
+ |
20,000 |
= |
|
|
70,500 |
(v) |
Depreciation on Machinery Rs 2,000 |
|
|
|
|
– 2,000 |
|
|
|
– 2,000 (Depreciation) |
|
|
32,500 |
+ |
18,000 |
+ |
18,000 |
= |
|
|
68,500 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
32,500 + 18,000 + 18,000 |
|
= |
Rs |
68,500 |
Liabilities |
= |
|
NIL |
Capital |
= |
Rs |
68,500 |
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Prepaid Rent (Rs) |
+ |
Stock (Rs) |
|
Creditors (Rs) |
+ |
Salary outstanding (Rs) |
|
(Rs) |
||
(i) |
Commenced business with cash Rs 60,000 |
60,000 |
|
|
|
|
|
|
|
|
|
60,000 |
|
|
60,000 |
|
|
|
|
= |
|
|
|
|
60,000 |
(ii) |
Paid Rent in Advance Rs 500 |
– 500 |
+ |
500 |
|
|
|
|
|
|
|
|
|
|
59,500 |
+ |
500 |
|
|
= |
|
|
|
|
60,000 |
(iii) |
Purchased goods for Cash Rs 30,000 and Credit Rs 20,000 |
– 30,000 |
+ |
|
|
50,000 |
|
20,000 |
|
|
|
|
|
|
29,500 |
+ |
500 |
+ |
50,000 |
= |
20,000 |
|
|
+ |
60, 000 |
(iv) |
Sold goods for Cash Rs 30,000 Costing Rs 20,000 |
30,000 |
+ |
|
+ |
– 20,000 |
|
|
|
|
|
10,000 (Profit) |
|
|
59,500 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
|
|
+ |
70,000 |
(v) |
Paid Salary Rs 500 and Salary Outstanding being Rs 100 |
– 500 |
|
|
|
|
= |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
|
100 |
|
– 100 |
|
|
59,000 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
+ |
100 |
+ |
69,400 |
(vi) |
Brought motorcycle for personal use Rs 5,000 |
– 5000 |
|
|
|
|
= |
|
|
|
|
– 5000 (Drawings) |
|
|
54,000 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
+ |
100 |
+ |
64,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
54,000 + 500 + 30,000 |
|
|
= |
Rs |
84,500 |
Liabilities |
= |
|
20,000 + 100 |
|
= |
Rs |
20,100 |
Capital |
= |
|
64,400 |
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
64,400 |
Cash |
54,000 |
Creditors |
20,000 |
Prepaid Rent |
500 |
Salary Outstanding |
100 |
Stock |
30,000 |
|
85,500 |
|
85,500 |
|
|
|
|
Page No 6.17:
Question 11:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Prepaid Rent (Rs) |
+ |
Stock (Rs) |
|
Creditors (Rs) |
+ |
Salary outstanding (Rs) |
|
(Rs) |
||
(i) |
Commenced business with cash Rs 60,000 |
60,000 |
|
|
|
|
|
|
|
|
|
60,000 |
|
|
60,000 |
|
|
|
|
= |
|
|
|
|
60,000 |
(ii) |
Paid Rent in Advance Rs 500 |
– 500 |
+ |
500 |
|
|
|
|
|
|
|
|
|
|
59,500 |
+ |
500 |
|
|
= |
|
|
|
|
60,000 |
(iii) |
Purchased goods for Cash Rs 30,000 and Credit Rs 20,000 |
– 30,000 |
+ |
|
|
50,000 |
|
20,000 |
|
|
|
|
|
|
29,500 |
+ |
500 |
+ |
50,000 |
= |
20,000 |
|
|
+ |
60, 000 |
(iv) |
Sold goods for Cash Rs 30,000 Costing Rs 20,000 |
30,000 |
+ |
|
+ |
– 20,000 |
|
|
|
|
|
10,000 (Profit) |
|
|
59,500 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
|
|
+ |
70,000 |
(v) |
Paid Salary Rs 500 and Salary Outstanding being Rs 100 |
– 500 |
|
|
|
|
= |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
|
100 |
|
– 100 |
|
|
59,000 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
+ |
100 |
+ |
69,400 |
(vi) |
Brought motorcycle for personal use Rs 5,000 |
– 5000 |
|
|
|
|
= |
|
|
|
|
– 5000 (Drawings) |
|
|
54,000 |
+ |
500 |
+ |
30,000 |
= |
20,000 |
+ |
100 |
+ |
64,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
54,000 + 500 + 30,000 |
|
|
= |
Rs |
84,500 |
Liabilities |
= |
|
20,000 + 100 |
|
= |
Rs |
20,100 |
Capital |
= |
|
64,400 |
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
64,400 |
Cash |
54,000 |
Creditors |
20,000 |
Prepaid Rent |
500 |
Salary Outstanding |
100 |
Stock |
30,000 |
|
85,500 |
|
85,500 |
|
|
|
|
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||
Cash (Rs) |
+ |
Accrued Interest (Rs) |
= |
Advance Commission (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 60,000 |
60,000 |
|
|
= |
|
|
60,000 |
|
|
60,000 |
|
|
= |
|
|
60,000 |
(ii) |
Rent Received Rs 2,000 |
2,000 |
|
|
= |
|
|
2,000 (Income) |
|
|
62,000 |
|
|
= |
|
|
62,000 |
(iii) |
Accrued Interest Rs 500 |
|
|
500 |
= |
|
|
500 (Income) |
|
|
62,000 |
+ |
500 |
= |
|
|
62,500 |
(iv) |
Commission received in advance Rs 1,000 |
1,000 |
|
|
= |
1,000 |
|
|
|
|
63,000 |
+ |
500 |
= |
1,000 |
+ |
62,500 |
(v) |
Amount withdrawn Rs 5,000 |
– 5,000 |
|
|
= |
|
|
– 5,000 |
|
|
58,000 |
+ |
500 |
= |
1,000 |
+ |
57,500 |
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
57,500 |
Cash |
58,000 |
Advance Commission |
1,000 |
Accrued Interest |
500 |
|
58,500 |
|
58,500 |
|
|
|
|
Page No 6.17:
Question 12:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||
Cash (Rs) |
+ |
Accrued Interest (Rs) |
= |
Advance Commission (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 60,000 |
60,000 |
|
|
= |
|
|
60,000 |
|
|
60,000 |
|
|
= |
|
|
60,000 |
(ii) |
Rent Received Rs 2,000 |
2,000 |
|
|
= |
|
|
2,000 (Income) |
|
|
62,000 |
|
|
= |
|
|
62,000 |
(iii) |
Accrued Interest Rs 500 |
|
|
500 |
= |
|
|
500 (Income) |
|
|
62,000 |
+ |
500 |
= |
|
|
62,500 |
(iv) |
Commission received in advance Rs 1,000 |
1,000 |
|
|
= |
1,000 |
|
|
|
|
63,000 |
+ |
500 |
= |
1,000 |
+ |
62,500 |
(v) |
Amount withdrawn Rs 5,000 |
– 5,000 |
|
|
= |
|
|
– 5,000 |
|
|
58,000 |
+ |
500 |
= |
1,000 |
+ |
57,500 |
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
57,500 |
Cash |
58,000 |
Advance Commission |
1,000 |
Accrued Interest |
500 |
|
58,500 |
|
58,500 |
|
|
|
|
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Prepaid Rent (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Salary (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 10,000 |
10,000 |
|
|
|
|
|
|
|
|
|
10,000 |
|
|
10,000 |
|
|
|
|
= |
|
|
|
|
10,000 |
(ii) |
Paid Rent in Advance Rs 300 |
– 300 |
|
300 |
|
|
|
|
|
|
|
|
|
|
9,700 |
+ |
300 |
|
|
= |
|
|
|
|
10,000 |
(iii) |
Purchased goods for Cash Rs 5,000 and credit Rs 2,000 |
– 5,000 |
+ |
|
+ |
5,000 |
= |
2,000 |
|
|
|
|
|
|
|
|
|
|
2,000 |
= |
|
|
|
|
|
|
|
4,700 |
+ |
300 |
+ |
7,000 |
= |
2,000 |
|
|
+ |
10, 000 |
(iv) |
Sold goods for Cash Rs 8,000 Costing Rs 4,000 |
8,000 |
|
|
|
– 4,000 |
|
|
|
|
|
4,000 (Profit) |
|
|
12,700 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
|
|
+ |
14,000 |
(v) |
Paid Salary Rs 450 and Salary outstanding being Rs 100 |
– 450 |
|
|
|
|
= |
|
|
|
|
– 450 (Expense) |
|
|
|
|
|
|
|
|
|
|
100 |
|
– 100 (Expense) |
|
|
12,250 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
+ |
100 |
+ |
13,450 |
(vi) |
Brought motorcycle for personal use Rs 3,000 |
– 3,000 |
|
|
|
|
= |
|
|
|
|
– 3,000 (Drawings) |
|
|
9,250 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
+ |
100 |
+ |
10,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
9,250 + 300 + 3,000 |
|
= |
Rs |
12,550 |
Liabilities |
= |
|
2,000 + 100 |
|
= |
Rs |
2,100 |
Capital |
= |
|
10,450 |
Page No 6.17:
Question 13:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Prepaid Rent (Rs) |
+ |
Stock (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Salary (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 10,000 |
10,000 |
|
|
|
|
|
|
|
|
|
10,000 |
|
|
10,000 |
|
|
|
|
= |
|
|
|
|
10,000 |
(ii) |
Paid Rent in Advance Rs 300 |
– 300 |
|
300 |
|
|
|
|
|
|
|
|
|
|
9,700 |
+ |
300 |
|
|
= |
|
|
|
|
10,000 |
(iii) |
Purchased goods for Cash Rs 5,000 and credit Rs 2,000 |
– 5,000 |
+ |
|
+ |
5,000 |
= |
2,000 |
|
|
|
|
|
|
|
|
|
|
2,000 |
= |
|
|
|
|
|
|
|
4,700 |
+ |
300 |
+ |
7,000 |
= |
2,000 |
|
|
+ |
10, 000 |
(iv) |
Sold goods for Cash Rs 8,000 Costing Rs 4,000 |
8,000 |
|
|
|
– 4,000 |
|
|
|
|
|
4,000 (Profit) |
|
|
12,700 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
|
|
+ |
14,000 |
(v) |
Paid Salary Rs 450 and Salary outstanding being Rs 100 |
– 450 |
|
|
|
|
= |
|
|
|
|
– 450 (Expense) |
|
|
|
|
|
|
|
|
|
|
100 |
|
– 100 (Expense) |
|
|
12,250 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
+ |
100 |
+ |
13,450 |
(vi) |
Brought motorcycle for personal use Rs 3,000 |
– 3,000 |
|
|
|
|
= |
|
|
|
|
– 3,000 (Drawings) |
|
|
9,250 |
+ |
300 |
+ |
3,000 |
= |
2,000 |
+ |
100 |
+ |
10,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
9,250 + 300 + 3,000 |
|
= |
Rs |
12,550 |
Liabilities |
= |
|
2,000 + 100 |
|
= |
Rs |
2,100 |
Capital |
= |
|
10,450 |
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Raj Commenced business |
70,000 |
|
|
|
|
|
|
= |
|
|
70,000 |
|
|
70,000 |
|
|
|
|
|
|
= |
|
|
70,000 |
(ii) |
Purchased goods on credit |
|
|
14,000 |
|
|
|
|
= |
14,000 |
|
|
|
|
70,000 |
+ |
14,000 |
|
|
|
|
= |
14,000 |
|
70,000 |
(iii) |
Withdraw for Private use |
– 1,700 |
|
|
|
|
|
|
= |
|
|
– 1,700 (Drawings) |
|
|
68,300 |
+ |
14,000 |
|
|
|
|
= |
14,000 |
+ |
68,300 |
(iv) |
Goods purchased for Cash |
– 10,000 |
+ |
10,000 |
|
|
|
|
|
|
|
|
|
|
58,300 |
+ |
24,000 |
|
|
|
|
= |
14,000 |
+ |
68,300 |
(v) |
Paid Wages |
– 300 |
|
|
|
|
|
|
= |
|
|
– 300 (Expense) |
|
|
58,000 |
+ |
24,000 |
|
|
|
|
= |
14,000 |
+ |
68,000 |
(vi) |
Paid to Creditors |
– 10,000 |
|
|
|
|
|
|
= |
– 10,000 |
|
|
|
|
48,000 |
+ |
24,000 |
|
|
|
|
= |
4,000 |
+ |
68,000 |
(vii) |
Sold goods on credit |
|
|
– 15,000 |
+ |
|
|
15,000 |
= |
|
|
|
|
|
48,000 |
+ |
9,000 |
+ |
|
|
15,000 |
= |
4,000 |
+ |
68,000 |
(viii) |
Sold goods for cash (costing Rs 3,000) |
4,000 |
|
– 3,000 |
|
|
|
|
|
|
|
1,000 (Profit) |
|
|
52,000 |
+ |
6,000 |
+ |
|
|
15,000 |
= |
4,000 |
+ |
69,000 |
(ix) |
Purchased Furniture |
– 500 |
|
|
|
500 |
|
|
|
|
|
|
|
|
51,500 |
+ |
6,000 |
+ |
500 |
+ |
15,000 |
= |
4,000 |
+ |
69,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
69,000 |
Cash |
51,500 |
Creditors |
4,000 |
Stock |
6,000 |
|
|
Furniture |
500 |
|
|
Debtors |
15,000 |
|
73,000 |
|
73,000 |
|
|
|
|
Page No 6.17:
Question 14:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Raj Commenced business |
70,000 |
|
|
|
|
|
|
= |
|
|
70,000 |
|
|
70,000 |
|
|
|
|
|
|
= |
|
|
70,000 |
(ii) |
Purchased goods on credit |
|
|
14,000 |
|
|
|
|
= |
14,000 |
|
|
|
|
70,000 |
+ |
14,000 |
|
|
|
|
= |
14,000 |
|
70,000 |
(iii) |
Withdraw for Private use |
– 1,700 |
|
|
|
|
|
|
= |
|
|
– 1,700 (Drawings) |
|
|
68,300 |
+ |
14,000 |
|
|
|
|
= |
14,000 |
+ |
68,300 |
(iv) |
Goods purchased for Cash |
– 10,000 |
+ |
10,000 |
|
|
|
|
|
|
|
|
|
|
58,300 |
+ |
24,000 |
|
|
|
|
= |
14,000 |
+ |
68,300 |
(v) |
Paid Wages |
– 300 |
|
|
|
|
|
|
= |
|
|
– 300 (Expense) |
|
|
58,000 |
+ |
24,000 |
|
|
|
|
= |
14,000 |
+ |
68,000 |
(vi) |
Paid to Creditors |
– 10,000 |
|
|
|
|
|
|
= |
– 10,000 |
|
|
|
|
48,000 |
+ |
24,000 |
|
|
|
|
= |
4,000 |
+ |
68,000 |
(vii) |
Sold goods on credit |
|
|
– 15,000 |
+ |
|
|
15,000 |
= |
|
|
|
|
|
48,000 |
+ |
9,000 |
+ |
|
|
15,000 |
= |
4,000 |
+ |
68,000 |
(viii) |
Sold goods for cash (costing Rs 3,000) |
4,000 |
|
– 3,000 |
|
|
|
|
|
|
|
1,000 (Profit) |
|
|
52,000 |
+ |
6,000 |
+ |
|
|
15,000 |
= |
4,000 |
+ |
69,000 |
(ix) |
Purchased Furniture |
– 500 |
|
|
|
500 |
|
|
|
|
|
|
|
|
51,500 |
+ |
6,000 |
+ |
500 |
+ |
15,000 |
= |
4,000 |
+ |
69,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
69,000 |
Cash |
51,500 |
Creditors |
4,000 |
Stock |
6,000 |
|
|
Furniture |
500 |
|
|
Debtors |
15,000 |
|
73,000 |
|
73,000 |
|
|
|
|
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Bank (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
+ |
Motor Cycle (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Commenced business with cash Rs 50,000 |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
|
|
50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
(ii) |
Paid in to bank Rs 10,000 |
– 10,000 |
+ |
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,000 |
+ |
10,000 |
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
(iii) |
Purchased goods for Cash Rs 20,000 and Credit Rs 30,000 |
–20,000 |
|
|
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,000 |
|
|
|
|
|
30,000 |
|
|
|
|
|
|
20,000 |
+ |
10,000 |
+ |
50,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
50,000 |
(iv) |
Sold goods for Cash Rs 40,000 Costing Rs 30,000 |
40,000 |
|
|
|
– 30,000 |
|
|
|
|
= |
|
|
|
|
10,000 (Expense) |
|
|
60,000 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
60,000 |
(v) |
Rent paid Rs 500 |
– 500 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
– 500 (Expense) |
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
59,500 |
(vi) |
Rent Outstanding Rs 100 |
|
|
|
|
|
|
|
|
|
|
|
|
100 |
+ |
– 100 (Expense) |
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
+ |
100 |
+ |
59,400 |
(vii) |
Bought furniture Rs 5,000 on credit |
|
|
|
|
|
|
5,000 |
|
|
= |
5,000 |
|
|
|
|
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
35,000 |
+ |
100 |
+ |
59,400 |
(viii) |
Bought refrigerator for personal use Rs 5,000 |
– 5,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
– 5,000 (Drawings) |
|
|
54,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
35,000 |
+ |
100 |
+ |
54,400 |
(ix) |
Purchased motorcycle for cash |
– 20,000 |
|
|
|
|
|
|
+ |
20,000 |
|
|
|
|
|
|
|
|
34,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
+ |
20,000 |
= |
35,000 |
+ |
100 |
+ |
54,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
54,400 |
Cash |
34,500 |
Creditors |
35,000 |
Bank |
10,000 |
Rent Outstanding |
100 |
Stock |
20,000 |
|
|
Furniture |
5,000 |
|
|
Motor Cycle |
20,000 |
|
89,500 |
|
89,500 |
|
|
|
|
Page No 6.18:
Question 15:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Bank (Rs) |
+ |
Stock (Rs) |
+ |
Furniture (Rs) |
+ |
Motor Cycle (Rs) |
= |
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Commenced business with cash Rs 50,000 |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
|
|
50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
(ii) |
Paid in to bank Rs 10,000 |
– 10,000 |
+ |
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,000 |
+ |
10,000 |
|
|
|
|
|
|
= |
|
|
|
|
50,000 |
(iii) |
Purchased goods for Cash Rs 20,000 and Credit Rs 30,000 |
–20,000 |
|
|
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,000 |
|
|
|
|
|
30,000 |
|
|
|
|
|
|
20,000 |
+ |
10,000 |
+ |
50,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
50,000 |
(iv) |
Sold goods for Cash Rs 40,000 Costing Rs 30,000 |
40,000 |
|
|
|
– 30,000 |
|
|
|
|
= |
|
|
|
|
10,000 (Expense) |
|
|
60,000 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
60,000 |
(v) |
Rent paid Rs 500 |
– 500 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
– 500 (Expense) |
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
|
|
+ |
59,500 |
(vi) |
Rent Outstanding Rs 100 |
|
|
|
|
|
|
|
|
|
|
|
|
100 |
+ |
– 100 (Expense) |
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
|
|
|
|
= |
30,000 |
+ |
100 |
+ |
59,400 |
(vii) |
Bought furniture Rs 5,000 on credit |
|
|
|
|
|
|
5,000 |
|
|
= |
5,000 |
|
|
|
|
|
|
59,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
35,000 |
+ |
100 |
+ |
59,400 |
(viii) |
Bought refrigerator for personal use Rs 5,000 |
– 5,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
– 5,000 (Drawings) |
|
|
54,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
35,000 |
+ |
100 |
+ |
54,400 |
(ix) |
Purchased motorcycle for cash |
– 20,000 |
|
|
|
|
|
|
+ |
20,000 |
|
|
|
|
|
|
|
|
34,500 |
+ |
10,000 |
+ |
20,000 |
+ |
5,000 |
+ |
20,000 |
= |
35,000 |
+ |
100 |
+ |
54,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital |
54,400 |
Cash |
34,500 |
Creditors |
35,000 |
Bank |
10,000 |
Rent Outstanding |
100 |
Stock |
20,000 |
|
|
Furniture |
5,000 |
|
|
Motor Cycle |
20,000 |
|
89,500 |
|
89,500 |
|
|
|
|
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
|
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 50,000 and goods Rs 30,000 |
50,000 |
+ |
30,000 |
|
|
|
|
|
80,000 |
|
|
50,000 |
+ |
30,000 |
= |
|
|
|
|
80,000 |
(ii) |
Purchased goods for Cash Rs 30,000 and on credit from Kiran Rs 20,000 |
– 30,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|
|
20,000 |
|
20,000 |
|
|
|
|
|
|
20,000 |
+ |
80,000 |
= |
20,000 |
|
|
+ |
80,000 |
(iii) |
Goods costing Rs 40,000 were Sold for Rs 55,000 |
55,000 |
|
- 40,000 |
|
|
|
|
|
15,000 (Profit) |
|
|
75,000 |
+ |
40,000 |
= |
20,000 |
|
|
+ |
95,000 |
(iv) |
Withdrew Cash for personal use Rs 10,000 |
– 10,000 |
|
|
|
|
|
|
|
– 10,000 (Drawings) |
|
|
65,000 |
+ |
40,000 |
= |
20,000 |
|
|
+ |
85,000 |
(v) |
Rent Outstanding Rs 2,000 |
|
|
|
|
|
|
2,000 |
|
– 2,000 (Expenses) |
|
|
65,000 |
+ |
40,000 |
= |
20,000 |
+ |
2,000 |
+ |
83,000 |
|
|
|
|
|
|
|
|
|
|
|
Page No 6.18:
Question 16:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
|
Creditors (Rs) |
+ |
Outstanding Rent (Rs) |
|
(Rs) |
||
(i) |
Started business with Cash Rs 50,000 and goods Rs 30,000 |
50,000 |
+ |
30,000 |
|
|
|
|
|
80,000 |
|
|
50,000 |
+ |
30,000 |
= |
|
|
|
|
80,000 |
(ii) |
Purchased goods for Cash Rs 30,000 and on credit from Kiran Rs 20,000 |
– 30,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|
|
20,000 |
|
20,000 |
|
|
|
|
|
|
20,000 |
+ |
80,000 |
= |
20,000 |
|
|
+ |
80,000 |
(iii) |
Goods costing Rs 40,000 were Sold for Rs 55,000 |
55,000 |
|
- 40,000 |
|
|
|
|
|
15,000 (Profit) |
|
|
75,000 |
+ |
40,000 |
= |
20,000 |
|
|
+ |
95,000 |
(iv) |
Withdrew Cash for personal use Rs 10,000 |
– 10,000 |
|
|
|
|
|
|
|
– 10,000 (Drawings) |
|
|
65,000 |
+ |
40,000 |
= |
20,000 |
|
|
+ |
85,000 |
(v) |
Rent Outstanding Rs 2,000 |
|
|
|
|
|
|
2,000 |
|
– 2,000 (Expenses) |
|
|
65,000 |
+ |
40,000 |
= |
20,000 |
+ |
2,000 |
+ |
83,000 |
|
|
|
|
|
|
|
|
|
|
|
Answer:
|
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Machinery (Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
+ |
Bills Receivable (Rs) |
|
|
|
(Rs) |
||
(1) |
Started Business with Cash Rs 1,50,000 |
1,50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
|
Stock Rs 60,000 |
|
|
60,000 |
|
|
|
|
|
|
|
|
|
|
|
60,000 |
|
Machinery Rs 1,00,000 |
|
|
|
|
1,00,000 |
|
|
|
|
|
|
|
|
|
1,00,000 |
|
Furniture Rs 50,000 |
|
|
|
|
|
|
50,000 |
|
|
|
|
|
|
|
50,000 |
|
|
1,50,000 |
+ |
60,000 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
|
|
3,60,000 |
(ii) |
1/3rd of above goods sold at a profit of 10% on cost, that is, 60,000 × 1/3 = 20,000 × 110% = 22,000 and half of this is received in Cash |
11,000 |
|
(20,000) |
|
|
|
|
|
11,000 |
|
|
|
|
|
2,000 (Profit) |
|
|
1,61,000 |
+ |
40,000 |
+ |
1,00,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,62,000 |
(iii) |
Depreciate Machinery by 10% (1,00,000 × 10%) |
|
|
|
|
(10,000) |
|
|
|
|
|
|
|
|
|
(10,000) Expenses |
|
|
1,61,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,52,000 |
(iv) |
Cash withdrawn for personal use |
(10,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,000) |
|
|
1,51,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,42,000 |
(v) |
Interest on Drawings charged @ 5% (10,000 × 5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
500 |
|
|
1,51,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,42,000 |
(vi) |
Goods Sold to Gupta for Rs 10,000 and received a Bill Receivable for the same amount. |
|
|
(10,000) |
|
|
|
|
|
|
|
10,000 |
|
|
|
|
|
|
1,51,000 |
+ |
30,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
+ |
10,000 |
= |
|
|
3,42,000 |
(vii) |
Received Rs 10,000 from Gupta against the Bill Receivable on its maturity. |
10,000 |
|
|
|
|
|
|
|
|
|
(10,000) |
|
|
|
|
|
|
1,61,000 |
+ |
30,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
+ |
NIL |
= |
NIL |
+ |
3,42,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page No 6.18:
Question 17:
|
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Machinery (Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
+ |
Bills Receivable (Rs) |
|
|
|
(Rs) |
||
(1) |
Started Business with Cash Rs 1,50,000 |
1,50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
|
Stock Rs 60,000 |
|
|
60,000 |
|
|
|
|
|
|
|
|
|
|
|
60,000 |
|
Machinery Rs 1,00,000 |
|
|
|
|
1,00,000 |
|
|
|
|
|
|
|
|
|
1,00,000 |
|
Furniture Rs 50,000 |
|
|
|
|
|
|
50,000 |
|
|
|
|
|
|
|
50,000 |
|
|
1,50,000 |
+ |
60,000 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
|
|
3,60,000 |
(ii) |
1/3rd of above goods sold at a profit of 10% on cost, that is, 60,000 × 1/3 = 20,000 × 110% = 22,000 and half of this is received in Cash |
11,000 |
|
(20,000) |
|
|
|
|
|
11,000 |
|
|
|
|
|
2,000 (Profit) |
|
|
1,61,000 |
+ |
40,000 |
+ |
1,00,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,62,000 |
(iii) |
Depreciate Machinery by 10% (1,00,000 × 10%) |
|
|
|
|
(10,000) |
|
|
|
|
|
|
|
|
|
(10,000) Expenses |
|
|
1,61,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,52,000 |
(iv) |
Cash withdrawn for personal use |
(10,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,000) |
|
|
1,51,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,42,000 |
(v) |
Interest on Drawings charged @ 5% (10,000 × 5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
500 |
|
|
1,51,000 |
+ |
40,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
|
|
= |
|
|
3,42,000 |
(vi) |
Goods Sold to Gupta for Rs 10,000 and received a Bill Receivable for the same amount. |
|
|
(10,000) |
|
|
|
|
|
|
|
10,000 |
|
|
|
|
|
|
1,51,000 |
+ |
30,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
+ |
10,000 |
= |
|
|
3,42,000 |
(vii) |
Received Rs 10,000 from Gupta against the Bill Receivable on its maturity. |
10,000 |
|
|
|
|
|
|
|
|
|
(10,000) |
|
|
|
|
|
|
1,61,000 |
+ |
30,000 |
+ |
90,000 |
+ |
50,000 |
+ |
11,000 |
+ |
NIL |
= |
NIL |
+ |
3,42,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Answer:
|
Transactions |
Assets |
|
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Building and Furniture (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
|
= |
Creditors (Rs) |
+ |
Security Deposits (Rs) |
|
(Rs) |
||
(i) |
Sunil started business with Cash Rs 1,50,000. |
1,50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
|
|
1,50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
1,50,000 |
(ii) |
Building and Furniture purchased for Rs 1,00,000 |
– 1,00,000 |
|
1,00,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
+ |
1,00,000 |
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
(iii) |
Purchased goods from Ram on credit |
|
|
|
|
50,000 |
|
|
|
|
= |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
50,000 |
|
|
+ |
1,50,000 |
(iv) |
Paid Cartage Rs 500 |
– 500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
– 500 (Expenses) |
|
|
49,500 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
50,000 |
|
|
+ |
1,49,500 |
(v) |
Sold to Shyam on credit goods costing Rs 6,000 for Rs 9,000 |
|
|
|
|
– 6,000 |
|
9,000 |
|
|
|
|
|
|
|
3,000 (Profits) |
|
|
49,500 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
|
|
+ |
1,52,500 |
(vi) |
Received rent from tenants of Rs 1,000 |
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000 (Incomes) |
|
|
50,500 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
|
|
+ |
1,53,500 |
(vii) |
Received Security Deposits from tenants of Rs 1,500 |
1,500 |
|
|
|
|
|
|
|
|
|
|
|
1,500 |
|
|
|
|
52,000 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,53,500 |
(viii) |
Purchased Stationery for Cash of Rs 100 |
– 100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
–100 (Expense) |
|
|
51,900 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,53,400 |
(ix) |
Invested in Shares (personal) Rs 50,000 |
– 50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
– 50,000 (Drawings) |
|
|
1,900 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,03,400 |
(x) |
Received Interest of Rs 200 in Cash |
200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
200 (Income) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,100 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,03,600 |
(xi) |
Introduced fresh Capital of Rs 25,000 |
25,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
25,000 |
|
|
27,100 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,28,600 |
(xii) |
Goods of Rs 500 were destroyed by fire |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
– 500 (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,100 |
+ |
1,00,000 |
+ |
43,500 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,28,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
27,100 + 1,00,000 + 43,500 + 9,000 = 1,79,600 |
Liabilities |
= |
50,000 + 1,500 = 51,500 |
Capital |
= |
1,28,100 |
Page No 6.18:
Question 18:
|
Transactions |
Assets |
|
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Building and Furniture (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
|
= |
Creditors (Rs) |
+ |
Security Deposits (Rs) |
|
(Rs) |
||
(i) |
Sunil started business with Cash Rs 1,50,000. |
1,50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
|
|
1,50,000 |
|
|
|
|
|
|
|
|
= |
|
|
|
|
1,50,000 |
(ii) |
Building and Furniture purchased for Rs 1,00,000 |
– 1,00,000 |
|
1,00,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
+ |
1,00,000 |
|
|
|
|
|
|
|
|
|
|
|
1,50,000 |
(iii) |
Purchased goods from Ram on credit |
|
|
|
|
50,000 |
|
|
|
|
= |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50,000 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
50,000 |
|
|
+ |
1,50,000 |
(iv) |
Paid Cartage Rs 500 |
– 500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
– 500 (Expenses) |
|
|
49,500 |
+ |
1,00,000 |
+ |
50,000 |
|
|
|
|
= |
50,000 |
|
|
+ |
1,49,500 |
(v) |
Sold to Shyam on credit goods costing Rs 6,000 for Rs 9,000 |
|
|
|
|
– 6,000 |
|
9,000 |
|
|
|
|
|
|
|
3,000 (Profits) |
|
|
49,500 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
|
|
+ |
1,52,500 |
(vi) |
Received rent from tenants of Rs 1,000 |
1,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000 (Incomes) |
|
|
50,500 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
|
|
+ |
1,53,500 |
(vii) |
Received Security Deposits from tenants of Rs 1,500 |
1,500 |
|
|
|
|
|
|
|
|
|
|
|
1,500 |
|
|
|
|
52,000 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,53,500 |
(viii) |
Purchased Stationery for Cash of Rs 100 |
– 100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
–100 (Expense) |
|
|
51,900 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,53,400 |
(ix) |
Invested in Shares (personal) Rs 50,000 |
– 50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
– 50,000 (Drawings) |
|
|
1,900 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,03,400 |
(x) |
Received Interest of Rs 200 in Cash |
200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
200 (Income) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,100 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,03,600 |
(xi) |
Introduced fresh Capital of Rs 25,000 |
25,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
25,000 |
|
|
27,100 |
+ |
1,00,000 |
+ |
44,000 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,28,600 |
(xii) |
Goods of Rs 500 were destroyed by fire |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
– 500 (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,100 |
+ |
1,00,000 |
+ |
43,500 |
+ |
9,000 |
|
|
= |
50,000 |
+ |
1,500 |
+ |
1,28,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
27,100 + 1,00,000 + 43,500 + 9,000 = 1,79,600 |
Liabilities |
= |
50,000 + 1,500 = 51,500 |
Capital |
= |
1,28,100 |
Answer:
S. No. |
Reasons |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Stock
(Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
+ |
Prepaid Rent (Rs) |
= |
Creditors (Rs) |
+ |
Salary Outstanding (Rs) |
|
(Rs) |
||
(i) |
Cash |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock |
|
|
30,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Furniture |
|
|
|
|
20,000 |
|
|
|
|
|
|
|
|
|
|
|
Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,00,000 |
|
|
50,000 |
+ |
30,000 |
+ |
20,000 |
|
|
|
|
= |
|
|
|
|
1,00,000 |
(ii) |
Decrease in Stock |
|
|
– 4,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors (Ajay) |
|
|
|
|
|
|
5,000 |
|
|
|
|
|
|
|
|
|
Increase in Capital (Profit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000 |
|
|
50,000 |
+ |
26,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,01,000 |
(iii) |
Increase in Cash |
16,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Stock |
|
|
– 12,000 |
+ |
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Capital (Profit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,000 |
|
|
66,000 |
+ |
14,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,05,000 |
(iv) |
Increase in Stock |
|
|
40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Cash |
– 40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,000 |
+ |
54,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,05,000 |
(v) |
Increase in Stock |
|
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Creditors |
|
|
|
|
|
|
|
|
|
|
20,000 |
|
|
|
|
|
|
26,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
20,000 |
|
|
+ |
1,05,000 |
(vi) |
Decrease in Cash |
– 3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rent Prepaid Rent |
|
|
|
|
|
|
|
|
2,000 |
|
|
|
|
|
|
|
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 1,000 |
|
|
23,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,04,000 |
(vii) |
Decrease in Cash |
– 2,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 2,000 |
|
|
21,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,02,000 |
(viii) |
Decrease in Stock |
|
|
– 8,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Cash |
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000 |
|
|
31,000 |
+ |
66,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,04,000 |
(ix) |
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 1,000 |
|
Salaries Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
1,000 |
|
|
|
|
31,000 |
+ |
66,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
+ |
1,000 |
+ |
1,03,000 |
(x) |
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 500 |
|
Decrease in Furniture |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
|
|
|
31,000 |
+ |
66,000 |
+ |
19,500 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
+ |
1,000 |
+ |
1,02,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page No 6.19:
Question 19:
S. No. |
Reasons |
Assets |
= |
Liabilities |
+ |
Capital |
||||||||||
Cash (Rs) |
+ |
Stock
(Rs) |
+ |
Furniture (Rs) |
+ |
Debtors (Rs) |
+ |
Prepaid Rent (Rs) |
= |
Creditors (Rs) |
+ |
Salary Outstanding (Rs) |
|
(Rs) |
||
(i) |
Cash |
50,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock |
|
|
30,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Furniture |
|
|
|
|
20,000 |
|
|
|
|
|
|
|
|
|
|
|
Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,00,000 |
|
|
50,000 |
+ |
30,000 |
+ |
20,000 |
|
|
|
|
= |
|
|
|
|
1,00,000 |
(ii) |
Decrease in Stock |
|
|
– 4,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors (Ajay) |
|
|
|
|
|
|
5,000 |
|
|
|
|
|
|
|
|
|
Increase in Capital (Profit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000 |
|
|
50,000 |
+ |
26,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,01,000 |
(iii) |
Increase in Cash |
16,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Stock |
|
|
– 12,000 |
+ |
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Capital (Profit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,000 |
|
|
66,000 |
+ |
14,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,05,000 |
(iv) |
Increase in Stock |
|
|
40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Cash |
– 40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,000 |
+ |
54,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
|
|
|
|
1,05,000 |
(v) |
Increase in Stock |
|
+ |
20,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Creditors |
|
|
|
|
|
|
|
|
|
|
20,000 |
|
|
|
|
|
|
26,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
|
|
= |
20,000 |
|
|
+ |
1,05,000 |
(vi) |
Decrease in Cash |
– 3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rent Prepaid Rent |
|
|
|
|
|
|
|
|
2,000 |
|
|
|
|
|
|
|
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 1,000 |
|
|
23,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,04,000 |
(vii) |
Decrease in Cash |
– 2,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 2,000 |
|
|
21,000 |
+ |
74,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,02,000 |
(viii) |
Decrease in Stock |
|
|
– 8,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Cash |
10,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000 |
|
|
31,000 |
+ |
66,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
|
|
+ |
1,04,000 |
(ix) |
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 1,000 |
|
Salaries Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
1,000 |
|
|
|
|
31,000 |
+ |
66,000 |
+ |
20,000 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
+ |
1,000 |
+ |
1,03,000 |
(x) |
Decrease in Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– 500 |
|
Decrease in Furniture |
|
|
|
|
– 500 |
|
|
|
|
|
|
|
|
|
|
|
|
31,000 |
+ |
66,000 |
+ |
19,500 |
+ |
5,000 |
+ |
2,000 |
= |
20,000 |
+ |
1,000 |
+ |
1,02,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Answer:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash |
1,00,000 |
|
|
|
|
|
|
|
1,00,000 |
|
|
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
(ii) |
Purchased goods for Cash Rs 20,000 and on credit Rs 30,000 |
– 20,000 |
+ |
50,000 |
|
|
= |
30,000 |
|
|
|
|
80,000 |
+ |
50,000 |
|
|
= |
30,000 |
+ |
1,00,000 |
(iii) |
Sold goods for cash costing Rs 10,000 and on credit costing Rs 15,000 both at profit of 20% |
12,000 |
+ |
– 25,000 |
+ |
18,000 |
|
|
|
5,000 (Profit) |
|
|
92,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
1,05,000 |
(iv) |
Paid Salaries Rs 8,000 |
– 8,000 |
|
|
|
|
|
|
|
– 8,000 (Expenses) |
|
|
84,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
97,000 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
84,000 + 25,000 + 18,000 |
|
= |
Rs |
1,27,000 |
Liabilities |
= |
Rs |
30,000 |
Capital |
= |
Rs |
97,000 |
Page No 6.19:
Question 20:
S. No. |
Transactions |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash (Rs) |
+ |
Stock (Rs) |
+ |
Debtors (Rs) |
|
Creditors (Rs) |
|
(Rs) |
||
(i) |
Started business with cash |
1,00,000 |
|
|
|
|
|
|
|
1,00,000 |
|
|
1,00,000 |
|
|
|
|
= |
|
|
1,00,000 |
(ii) |
Purchased goods for Cash Rs 20,000 and on credit Rs 30,000 |
– 20,000 |
+ |
50,000 |
|
|
= |
30,000 |
|
|
|
|
80,000 |
+ |
50,000 |
|
|
= |
30,000 |
+ |
1,00,000 |
(iii) |
Sold goods for cash costing Rs 10,000 and on credit costing Rs 15,000 both at profit of 20% |
12,000 |
+ |
– 25,000 |
+ |
18,000 |
|
|
|
5,000 (Profit) |
|
|
92,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
1,05,000 |
(iv) |
Paid Salaries Rs 8,000 |
– 8,000 |
|
|
|
|
|
|
|
– 8,000 (Expenses) |
|
|
84,000 |
+ |
25,000 |
+ |
18,000 |
= |
30,000 |
+ |
97,000 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
= |
|
84,000 + 25,000 + 18,000 |
|
= |
Rs |
1,27,000 |
Liabilities |
= |
Rs |
30,000 |
Capital |
= |
Rs |
97,000 |
Answer:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash |
+ |
Stock |
+ |
Debtors |
= |
Creditors |
|
|
||
(i) |
Ram Started Business with Cash |
25,000 |
|
|
|
|
|
|
+ |
25,000 |
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Purchased Goods from Shyam |
|
+ |
10,000 |
|
|
|
10,000 |
|
|
|
New A/c Equation |
25,000 |
+ |
10,000 |
|
|
= |
10,000 |
+ |
25,000 |
(iii) |
Sold Goods to Sohan costing Rs.1,500 for Rs.1,800 |
|
|
(-)1,500 |
+ |
1,800 |
|
|
+ |
300 (Profit) |
|
|
25,000 |
+ |
8,500 |
+ |
1,800 |
= |
10,000 |
+ |
25,300 |
|
|
|
|
|
|
|
|
|
|
|
Page No 6.19:
Question 21:
S. No. |
Transaction |
Assets |
= |
Liabilities |
+ |
Capital |
||||
Cash |
+ |
Stock |
+ |
Debtors |
= |
Creditors |
|
|
||
(i) |
Ram Started Business with Cash |
25,000 |
|
|
|
|
|
|
+ |
25,000 |
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Purchased Goods from Shyam |
|
+ |
10,000 |
|
|
|
10,000 |
|
|
|
New A/c Equation |
25,000 |
+ |
10,000 |
|
|
= |
10,000 |
+ |
25,000 |
(iii) |
Sold Goods to Sohan costing Rs.1,500 for Rs.1,800 |
|
|
(-)1,500 |
+ |
1,800 |
|
|
+ |
300 (Profit) |
|
|
25,000 |
+ |
8,500 |
+ |
1,800 |
= |
10,000 |
+ |
25,300 |
|
|
|
|
|
|
|
|
|
|
|
Answer:
Total Assets |
= |
Capital – Loss + Liabilities |
|
= |
3,00,000 – 70,000 + 50,000 |
|
= |
Rs 2,80,000 |
Page No 6.19:
Question 22:
Total Assets |
= |
Capital – Loss + Liabilities |
|
= |
3,00,000 – 70,000 + 50,000 |
|
= |
Rs 2,80,000 |
Answer:
Creditors |
= |
Total Assets – Net worth |
|
= |
1,30,000 – 80,000 |
|
= |
Rs 50,000 |
Page No 6.19:
Question 23:
Creditors |
= |
Total Assets – Net worth |
|
= |
1,30,000 – 80,000 |
|
= |
Rs 50,000 |
Answer:
Closing Capital |
= |
Assets – Liabilities |
|
= |
50,000 – 10,000 |
|
= |
Rs 40,000 |
Profit |
= |
Closing Capital – Opening Capital |
|
= |
40,000 – 30,000 |
|
= |
Rs 10,000 |
Page No 6.19:
Question 24:
Closing Capital |
= |
Assets – Liabilities |
|
= |
50,000 – 10,000 |
|
= |
Rs 40,000 |
Profit |
= |
Closing Capital – Opening Capital |
|
= |
40,000 – 30,000 |
|
= |
Rs 10,000 |
Answer:
Total Assets |
= |
Liabilities + Capital |
|
= |
80,000 + 1,40,000 |
|
= |
Rs 2,20,000 |
Page No 6.19:
Question 25:
Total Assets |
= |
Liabilities + Capital |
|
= |
80,000 + 1,40,000 |
|
= |
Rs 2,20,000 |
Answer:
Capital after Adjustment of revenue and expenses |
= |
Capital + Revenue – Expenses |
|
= |
40,000 + 50,000 – 40,000 = Rs 50,000 |
Total Asset |
= |
Capital after adjustment + Creditors |
|
= |
50,000 + 25,000 |
|
= |
Rs 75,000 |
Page No 6.19:
Question 26:
Capital after Adjustment of revenue and expenses |
= |
Capital + Revenue – Expenses |
|
= |
40,000 + 50,000 – 40,000 = Rs 50,000 |
Total Asset |
= |
Capital after adjustment + Creditors |
|
= |
50,000 + 25,000 |
|
= |
Rs 75,000 |
Answer:
(a) |
Total Assets |
= |
Capital + Creditors for purchase of Goods |
||||
= |
75,000 + 15,000 |
||||||
= |
Rs 90,000 |
||||||
(b) |
Capital at the end |
= |
Capital − Loss − Drawings |
||||
= |
75,000 − 1,700 − 800 |
||||||
= |
Rs 72,500 |
||||||
Assets |
= |
Capital at the end + Creditors for purchase of Goods |
|||||
= |
72,500 + 15,000 |
||||||
= |
Rs 87,500 |
Page No 6.19:
Question 27:
(a) |
Total Assets |
= |
Capital + Creditors for purchase of Goods |
||||
= |
75,000 + 15,000 |
||||||
= |
Rs 90,000 |
||||||
(b) |
Capital at the end |
= |
Capital − Loss − Drawings |
||||
= |
75,000 − 1,700 − 800 |
||||||
= |
Rs 72,500 |
||||||
Assets |
= |
Capital at the end + Creditors for purchase of Goods |
|||||
= |
72,500 + 15,000 |
||||||
= |
Rs 87,500 |
Answer:
(a) Capital on March 31, 2016 = Capital on April 01, 2015 + Profit − Drawings
= 10,000 + 5,000 − 4,000 = Rs 11,000
(b) Total Assets on March 31, 2016 = Capital on April 01, 2015 + Profit + Creditors
= 15,000 + 3,000 + 2,500 = Rs 20,500
Page No 6.19:
Question 28:
(a) Capital on March 31, 2016 = Capital on April 01, 2015 + Profit − Drawings
= 10,000 + 5,000 − 4,000 = Rs 11,000
(b) Total Assets on March 31, 2016 = Capital on April 01, 2015 + Profit + Creditors
= 15,000 + 3,000 + 2,500 = Rs 20,500
Answer:
Capital on March 31, 2016 = Assets − Loan from Shyam
= 75,000 − 12,500 = Rs 62,500
Profit (or Loss) during the year 2015-16 = Capital on March 31, 2016+ Drawings − (Additional Capital + Capital on April 01, 2015)
= 62,500 + 7,500 − (12,500 + 25,000)
= 70,000 − 37,500 = Rs 32,500
Page No 6.19:
Question 29:
Capital on March 31, 2016 = Assets − Loan from Shyam
= 75,000 − 12,500 = Rs 62,500
Profit (or Loss) during the year 2015-16 = Capital on March 31, 2016+ Drawings − (Additional Capital + Capital on April 01, 2015)
= 62,500 + 7,500 − (12,500 + 25,000)
= 70,000 − 37,500 = Rs 32,500
Answer:
Capital as on March 31, 2016 = Total Assets − External Liabilities
= 2,00,000 − 6,000 = Rs 1,94,000
Capital on April 01, 2015 = Capital on March 31, 2016 − Additional Capital + Drawings − Profit
= 1,94,000 − 20,000 + 12,000 − 20,000 = Rs 1,66,000
View NCERT Solutions for all chapters of Class 13