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प्रश्न
Create an accounting equation on the basis of the following transactions:
- Started business with cash ₹ 80,000 and goods ₹ 75,000
- Sold goods to Shanmugam on credit for ₹ 50,000
- Received cash from Shanmugam in full settlement ₹ 49,000
- Salary outstanding ₹ 3,000
- Goods costing ₹ 1,000 given as charity
- Insurance premium paid ₹ 3000
- Out of insurance premium paid, prepaid is ₹ 500
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उत्तर
| Transaction | Assets | Capital ₹ | + Liabilities ₹ | |||||
| Cash ₹ | Stock ₹ | Debtors ₹ | Insurance Prepaid ₹ | |||||
| i. Started business with cash ₹ 80,000 and goods ₹ 75,000 | + 80,000 | + 75,000 | + 1,55,000 | |||||
| Equation | + 80,000 | + 75,000 | = | + 1,55,000 | ||||
| ii. Sold goods to Shanmugam on credit | − 50,000 | + 50,000 | ||||||
| Equation | + 80,000 | + 25,000 | + 50,000 | = | + 1,55,000 | |||
| iii. Cash from received Shanmugam in full settlement ₹ 49,000 | + 49,000 | − 50,000 | − 1,000 | |||||
| Equation | + 1,29,000 | + 25,000 | + 0 | = | + 1,54,000 | |||
| iv. Salary outstanding | − 3,000 | + 3,000 | ||||||
| Equation | + 1,29,000 | + 25,000 | + 0 | = | + 1,51,000 | + 3,000 | ||
| v. Goods costing ₹ 1,000 given as charity | − 1,000 | − 1,000 | ||||||
| Equation | + 1,29,000 | + 24,000 | + 0 | = | + 1,50,000 | + 3,000 | ||
| vi. Insurance premium paid | − 3,000 | − 3,000 | ||||||
| Equation | 1,26,000 | + 24,000 | + 0 | = | + 1,47,000 | + 3,000 | ||
| vii. Out of insurance premium paid, prepaid | − 500 | + 500 | ||||||
| Equation | 1,25,500 | + 24,000 | + 0 | + 500 | = | + 1,47,000 | + 3,000 | |
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संबंधित प्रश्न
‘Cash withdrawn by the proprietor from the business for his personal use’ causes ____________.
A firm has assets of ₹ 1,00,000 and the external liabilities of ₹ 60,000. Its capital would be ___________.
Prepaid rent is a ____________.
Write a brief note on accounting equation approach of recording transactions.
Complete the accounting equation.
Assets = Capital + Liabilities
₹ 2,00,000 = ? + ₹ 40,000
Complete the accounting equation.
Assets = Capital + Creditors
? = ₹ 1, 60,000 + ₹ 80,000
For the following transactions, show the effect on the accounting equation.
- Raj started business with cash - ₹ 40,000
- Opened bank account with a deposit of - ₹ 30,000
- Bought goods from Hari on credit for - ₹ 12,000
- Raj withdrew cash for personal use - ₹ 1,000
- Bought furniture by using debit card for - ₹ 10,000
- Sold goods to Murugan and cash received - ₹ 6,000
- Money withdrawn from bank for office use - ₹ 1,000
Prepare accounting equation for the following transactions.
- Murugan commenced business with cash ₹ 80,000
- Purchased goods for cash ₹ 30,000
- Paid salaries by cash ₹ 5,000
- Bought goods from Kumar for ₹ 5,000 and deposited the money in CDM.
- Introduced additional capital of ₹ 10,000
What will be the effect of the following on the accounting equation?
- Sunil started business with ₹ 1,40,000 cash and goods worth ₹ 60,000
- Purchased furniture worth ₹ 20,000 by cash
- Depreciation on furniture ₹ 800
- Deposited into bank ₹ 40,000
- Paid electricity charges through net banking ₹ 500
- Sold goods to Ravi costing ₹ 10,000 for ₹ 15,000
- Goods returned by Ravi ₹ 7,500 (costing ₹ 5,000)
Create an accounting equation on the basis of the following transactions:
- Rakesh started business with a capital of ₹ 1,50,000
- Deposited money with the bank ₹ 80,000
- Purchased goods from Mahesh and paid through debit card ₹ 25,000
- Sold goods (costing ₹ 10,000) to Mohan for ₹ 14,000 who pays through debit card
- Commission received by cheque and deposited the same in the bank ₹ 2,000
- Paid office rent through ECS ₹ 6,000
- Sold goods to Raman for ₹ 15,000 of which ₹ 5,000 was received at once
