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 … Read more
1. Prepare Accounting Equation from the following: ₹ 1 Sandeep started business with Cash 1,00,000 2 Purchased furniture for cash 5,000 3 Purchased goods for cash 20,000 4 Purchased goods on credit 36,000 5 Paid for rent 700 6 Goods costing ₹40,000 sold at a profit of 20% for cash D.K.Goel/2024 Edition/Practical Questions/Q-01 For full … Read more
26. Pranav started business on 1st April, 2023 with capital of ₹5,50,000. On 3lst March, 2024, his total assets were ₹10,75,000 and liabilities were ₹2,92,500. Calculate the amount by which his capital has increased as on 31st March, 2024. T.S.Grewal/2024 Edition/Practical Problems/Q-26 For full question, please refer to the text book T.S.Grewal’s Double Entry … Read more
25. Calculate the amount of External Equities as on 31st March, 2024 in the following cases: (i) On 31st March, 2024, total assets and capital were ₹15,00,000 and ₹10,50,000 respectively. (ii) On 1st April, 2023, Mukesh started business with a capital of ₹3,00,000 and a loan of ₹3,00,000 borrowed from a friend. During the year, … Read more
24. Mohan started a business on lst April, 2023 with a capital of ₹25,000 and a loan of ₹12,500 borrowed from Shyam. During 2023-24, he had introduced additional capital of ₹12,500 and had withdrawn ₹7,500 for personal use. On 31lst March, 2024, his assets were ₹75,000. Find his capital as on 31st March, 2024 and … Read more
23. On 31st March, 2024, total assets and external liabilities were ₹2,00,000 and ₹6,000 respectively. During the year, the proprietor had introduced capital of ₹20,000 and withdrawn ₹12,000 for personal use. He earned a profit of ₹ 20,000 during the year. Calculate the capital as on lst April, 2023. T.S.Grewal/2024 Edition/Practical Problems/Q-23 For full … Read more
22. (a) Mohan started a business on 1st April, 2023 with a capital of ₹ 10,000 and borrowed ₹3,000 from a friend. He earned a profit of ₹5,000 during the year ended 31st March, 2024 and withdrew cash ₹4,000 for personal use. What is his capital on 31st March, 2024? (b) Mahesh started a business … Read more
21. (a) Gurman had a capital of ₹75,000 on 1st April, 2023. He had also goods amounting to ₹15,000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business. (b) He incurred loss of ₹1,700. He withdrew ₹800 for his personal … Read more
20. Calculate the total assets if: (i) Capital is ₹40,000. (ii) Creditors are ₹25,000. (iii) Revenue during the period is ₹50,000. (iv) Expenses during the period are ₹40,000. (Delhi) T.S.Grewal/2024 Edition/Practical Problems/Q-20 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by … Read more
19. A commenced his cloth business on 1st April, 2023 with a capital of ₹30,000. On 31st March 2024, his assets were worth ₹50,000 and liabilities of ₹10,000. Find his closing capital and profits earned during the year. T.S.Grewal/2024 Edition/Practical Problems/Q-19 For full question, please refer to the text book T.S.Grewal’s Double Entry Book … Read more