THE SIDDIQUI ACADEMY® : EXEMPLER ACCOUNTING NUMERICAL CLASS XIth

 Q.1 Prepare an Accounting Equation on the basis of the following transactions:

(i) Started business with cash ₹ 70,000.

(ii) Credit purchase of goods ₹ 18,000.

(iii) Payment made to creditors in full settlement ₹ 17,500.

(iv) Purchase of machinery for cash ₹ 20,000.

(v) Depreciation on machinery ₹ 2,000


Q.2 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 ₹ 40,000 costing ₹ 30,000.

(v) Rent paid ₹ 500.

(vi) Rent outstanding ₹ 100.

(vii) Bought furniture ₹ 5,000 on credit.

(viii) Bought refrigerator for personal use ₹ 5,000.

(ix) Purchased motorcycle for cash ₹ 20,000.

Create an Accounting Equation to show the effect of the above 


THE SIDDIQUI ACADEMY®

ANANAD VIHAR PHASE III
STUDENT HELPLINE : 011-69653927

MAIL US AT : thesiddiquiacademy@gmail.com
WEBSITE : www.thesiddiquiacademy.wixsite.com

©2023-THE SIDDIQUI ACADEMY.

Comments

Post a Comment

Popular posts from this blog

English Important

  Why did Lencho say the raindrops were like ‘new coins’? Answer: Lencho compared the raindrops to ‘new coins’ – the big drops as ten-cent pieces and the little ones as fives. As his crops were ready for harvest, he hoped that the rains would bring him prosperity; so he felt the raindrops were like ‘new coins’. Question 4: What were Lencho’s feelings when the hail stopped? Answer: After the hailstones stopped, Lencho’s soul was filled with grief and dismay. He realised that everything was ruined by the hailstorm and nothing was left to feed his family for the entire year. He could visualize the bleak future of his family. Who read the letter? Answer: The postmaster read Lencho’s letter addressed to God. Who or what did Lencho have faith in? What did he do? Answer: Lencho had a strong faith in God. He believed that God’s eyes see everything, even what is deep in one’s conscience. Hence, he wrote a letter to God citing that he needed a hundred pesos to sow his field that was destroye...
Read more

Economics

  1. Development of a country can generally be determined by its per capita income its average literacy level health status of its people all of the above Answer:  d. all of the above 2. Which of the following neighbouring countries has better performance in terms of human development than India? Bangladesh Sri Lanka Nepal Pakistan Answer:  b. Sri Lanka 3. Assume there are four families in a country. The average per capita income of these families is Rs. 5000. If the income of three families is Rs. 4,000, Rs. 7,000 and Rs. 3,000, respectively, what is the income of the fourth family? Rs. 7,500 Rs. 3,000 Rs. 2,000 Rs. 6,000 Answer:  d. Rs. 6,000 (4000+7000+3000+x) ÷ 4 = 5000 14000+x = 5000 × 4 x = 20000-14000 x = 6000 In what respects is the criterion used by the UNDP for measuring development different from the one used by the World Bank? Answer:  The criterion used by UNDP is different from the one used by the World Bank because UNDP compares countries based on...
Read more