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 text book Accountancy Class-XI by … Read more
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 For full question, please refer … Read more
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 Hari ₹15,000. (f) Cash paid … Read more
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 to Raghubir ₹20,000. D.K.Goel/2024 … Read more
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 book Accountancy Class-XI by Mr. … Read more
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 for ₹50,000. Paid Cash to … Read more
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 book Accountancy Class-XI by Mr. … Read more
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 Class-XI by Mr. D.K.Goel published … Read more
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 book Accountancy Class-XI by Mr. … Read more
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 introduced fresh capital of ₹40,000 … Read more