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 |
| (vi) | Purchased goods for cash | 1000 |
| (vii) | Withdrew for personal use | 700 |
| (viii) | Paid to creditors | 400 |
| (ix) | Paid for salaries | 200 |
(B). Prove that the Accounting Equation is satisfied in all the following transactions of Rajaram. Also prepare a Balance Sheet
| 1 | Started business with Cash ₹1,20,000. |
| 2 | Purchased a typewriter for Cash for ₹8,000 for office use. |
| 3 | Purchased goods for ₹50,000 for cash. |
| 4 | Purchased goods for ₹40,000 on credit. |
| 5 | Goods costing ₹60,000 sold for ₹80,000 on credit. |
| 6 | Paid for Rent ₹1,500 and for salaries ₹2,000. |
| 7 | Received ₹800 for Commission. |
| 8 | Withdrew for private use ₹5,000 in cash. |
D.K.Goel/2024 Edition/Practical Questions/Q-02
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company