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 


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