18. If total assets of a business are ₹1,30,000 and net worth is ₹80,000, calculate the creditors. T.S.Grewal/2024 Edition/Practical Problems/Q-18 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 Sultan Chand & Sons Pvt. Ltd. Answer : The solution is available … Read more
17. If the capital of a business is ₹3,00,000 and liabilities are ₹50,000, loss ₹70,000, calculate the total assets of the business. T.S.Grewal/2024 Edition/Practical Problems/Q-17 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 Sultan Chand & Sons Pvt. Ltd. Answer … Read more
16. Show an Accounting Equation on the basis of the following transactions: ₹ (i) Sunil started business with cash 1,50,000 (ii) Opened a Bank Account by depositing cash 25,000 (iii) He sold his personal car and deposited the amount in the firm’s Bank Account 50,000 (iv) He purchased a building and furniture for 1,00,000 (v) … Read more
15. Show an Accounting Equation for the following transactions: (i) D. Mahapatra commenced business with cash ₹50,000 and ₹1,00,000 by cheque; goods ₹ 60,000; machinery ₹1,00,000 and furniture ₹50,000. (ii) 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. (iii) Depreciation on … Read more
14. Prepare an Accounting Equation from the following: (a) Started business with cash ₹1,00,000. (b) Purchased goods for cash ₹20,000 and on credit ₹30,000. (c) Sold goods for cash costing ₹ 10,000 and on credit costing ₹15,000 both at a profit of 20%. (d) Paid salaries ₹8,000. (Delhi) T.S.Grewal/2024 Edition/Practical Problems/Q-14 For full question, … Read more
13. Prepare an Accounting Equation from the following: (i) Started business with cash ₹50,000 and goods ₹30,000. (ii) Purchased goods for cash ₹30,000 and on credit from Karan ₹20,000. (iii) Goods costing ₹40,000 were sold for ₹55,000. (iv) Withdrew cash for personal use ₹10,000. (v) Rent outstanding ₹2,000. (MSE Chandigarh) T.S.Grewal/2024 Edition/Practical Problems/Q-13 For … Read more
12. Raghunath had the following transactions in an accounting year: ₹ (i) Commenced business with cash 50,000 (ii) Paid into bank 10,000 (iii) Purchased goods for cash ₹20,000 and credit 30,000 (iv) Sold goods for cash costing ₹30,000 for 40,000 (v) Rent paid 500 (vi) Rent outstanding 100 (vii) Bought furniture on credit 5,000 (viii) … Read more
11. Show the effect of the following transactions and also prepare a Balance Sheet: ₹ (i) Started business with cash 60,000 (ii) Rent received 2,000 (iii) Accrued interest 500 (iv) Commission received in advance 1,000 (v) Amount withdrawn 5,000 T.S.Grewal/2024 Edition/Practical Problems/Q-11 For full question, please refer to the text book T.S.Grewal’s Double Entry … Read more
10. Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet. ₹ (i) Commenced business with cash 60,000 (ii) Paid rent in advance 500 (iii) Purchased goods for cash ₹30,000 and credit 20,000 (iv) Sold goods for cash ₹30,000 costing 20,000 (v) Paid salary ₹500 and … Read more
9. 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) Sold goods for cash (costing ₹5,000) 7,000 (f) Goods destroyed by fire 500 (KVS) T.S.Grewal/2024 Edition/Practical Problems/Q-09 For full question, … Read more