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 Accountancy Class-XI by Mr. D.K.Goel … Read more
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 : The solution is available on our Mobile App Back
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 : The solution is available on our Mobile App Back
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 personal use ₹20,000. Q.9 (B). … Read more
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, please refer to the text … Read more
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) Goods destroyed by fire 500 … Read more
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 credit ₹50,000 (costing ₹38,000). (vi) … Read more
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 received from Manish 20,000 (g) … Read more
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 full question, please refer to … Read more
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 full question, please refer to … Read more