English
Tamil Nadu Board of Secondary EducationHSC Commerce Class 11

Complete the accounting equation. Assets = Capital + Liabilities ₹ 2,00,000 = ? + ₹ 40,000 - Accountancy

Advertisements
Advertisements

Question

Complete the accounting equation.

Assets = Capital + Liabilities

₹ 2,00,000 = ? + ₹  40,000

Sum

Solution

Capital = Assets – Liabilities

Capital = ₹ 2,00,000 – ₹ 40,000

Capital = ₹ 1,60,000

shaalaa.com
Approaches of Recording Transactions
  Is there an error in this question or solution?
Chapter 3: Books of Prime Entry - Exercises [Page 59]

APPEARS IN

Samacheer Kalvi Accountancy [English] Class 11 TN Board
Chapter 3 Books of Prime Entry
Exercises | Q IV 1. (b) | Page 59

RELATED QUESTIONS

The incorrect accounting equation is _____________.


Real account deals with ____________.


Which one of the following is representative personal account?


Prepaid rent is a ____________.


Write any one transaction which decreases the assets and decreases the liabilities


Write any one transaction which increases one asset and decreases another asset


What are the three different types of personal accounts?


Prepare accounting equation for the following transactions.

  1. Murugan commenced business with cash ₹ 80,000
  2. Purchased goods for cash ₹ 30,000
  3. Paid salaries by cash ₹ 5,000
  4. Bought goods from Kumar for ₹ 5,000 and deposited the money in CDM.
  5. Introduced additional capital of ₹ 10,000

What will be the effect of the following on the accounting equation?

  1. Sunil started business with ₹ 1,40,000 cash and goods worth ₹ 60,000
  2. Purchased furniture worth ₹ 20,000 by cash
  3. Depreciation on furniture ₹ 800
  4. Deposited into bank ₹ 40,000
  5. Paid electricity charges through net banking ₹ 500
  6. Sold goods to Ravi costing ₹ 10,000 for ₹ 15,000
  7. Goods returned by Ravi ₹ 7,500 (costing ₹ 5,000)

Create an accounting equation on the basis of the following transactions:

  1. Rakesh started business with a capital of ₹ 1,50,000
  2. Deposited money with the bank ₹ 80,000
  3. Purchased goods from Mahesh and paid through debit card ₹ 25,000
  4. Sold goods (costing ₹ 10,000) to Mohan for ₹ 14,000 who pays through debit card
  5. Commission received by cheque and deposited the same in the bank ₹ 2,000
  6. Paid office rent through ECS ₹ 6,000
  7. Sold goods to Raman for ₹ 15,000 of which ₹ 5,000 was received at once

Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×