Cl

assXI
Account
ingEquat
ion
Q1)Mr
.Pai
startedabusi
nesswithacashinvest
mentof₹21,
00,
000.
The
fol
l
owi
ngbusinesstr
ansact
ionshavebeenrecor
ded:
1.Pai
dthr
eemont
hsadv
ancer
entf
orof
fi
ceaccommodat
ion₹2,
520.
2.BoughtCarf
orOf
fi
ce₹12,
00,
000.
3.Pur
chasedf
urni
tur
e₹42,
250.
4.BoughtComput
erf
rom Comput
erVi
sions₹25,
000.
5.Sol
dfur
nit
ureatcostt
oPet
erf
or₹21,
000.
6.Pet
erpai
d₹15,
000i
nCashandaccept
edabi
l
latt
hreemont
hsf
ort
he
bal
ance.
7.Pai
dtel
ephonebi
l
l₹2,
500andel
ect
ri
cit
ybi
l
lof₹4,
500.
8.Pet
erpai
dtheamountoft
hebi
l
ldueonmat
uri
ty.
9.Col
lect
ed₹3,
500asCommi
ssi
onandCommi
ssi
onr
ecei
vedi
nadv
ance
₹2,
500.
10.Pur
chasedf
oodf
or₹11,
250atat
radedi
scountof10%
Q2)Showt heaccount
ingequat
ionont
hebasi
soft
hef
oll
owi
ng
t
ransact
ions:
a)Shri
Ganeshcommencedbusi
nesswi
thcashRs.
35,
000,
goodsRs.
8,000
andfurni
tur
eRs.
7,000.
b)Boughtf
urni
tur
efr
om M/
sMohanFur
nit
uresoncr
edi
tforRs.
3,000.
c)Pur
chasedgoodsf
rom Sohanf
orcashRs.
35,
000.
d)Sol
dgoodst
oShy
am f
orcashRs.
40,
000(
cost
ingRs.
30,
000)
.
e)Boughtgoodsf
rom RameshRs.
30,
000.
f
)Sol
dgoodst
oShy
am cost
ingRs.
30,
000f
orRs.
50,
000.
g)Recei
vedRs.
49,
500f
rom Shy
am i
nful
lset
tl
ement
.
h)Pai
dRs.
29,
700t
oRameshi
nful
lset
tl
ement
.
i
)Pai
dhal
ftheamountowedt
oM/
sMohan.
j
)Wi
thdr
ewRs.
1,000f
orper
sonal
use.
k)Wi
thdr
ewgoodsf
orper
sonal
use(
costRs.
500,
sal
epr
iceRs.
600)
.
l
)Pur
chasedhousehol
dgoodsf
orRs.
15,
000gi
vi
ngRs.
5,000i
ncashand
t
hebal
ancethr
oughaloan.
m)Pai
dcashRs.
500f
orl
oanandRs.
300f
ori
nter
est
.
n)Goodsdest
roy
edbyf
ir
e(costRs.
500,
sal
epr
iceRs.
600)
o)Pai
dsal
aryRs.
500andsal
aryout
standi
ngRs.
100.
p)Pai
drenti
nadv
anceRs.
2,000.
q)Accr
uedi
nter
estRs500.
r
)Commi
ssi
onr
ecei
vedi
nadv
anceRs1,
000.
s)Char
geddepr
eci
ati
onofRs400onf
urni
tur
e.

Q3)Gi
veanexampl
eforeachoft
hef
oll
owi
ngt
ypesoft
ransact
ions:
a)I
ncr
easei
noneasset
,decr
easei
nanot
herasset
.
b)I
ncr
easei
nasset
,incr
easei
nli
abi
l
ity
.
c)I
ncr
easei
nasset
,incr
easei
nowner
’scapi
tal
.
d)Decr
easei
nasset
,decr
easei
nli
abi
l
ity
.
e)Decr
easei
nasset
,decr
easei
nowner
’scapi
tal
.
f
)Incr
easei
nonel
i
abi
l
ity
,decr
easei
nanot
herl
i
abi
l
ity
.
g)I
ncr
easei
nli
abi
l
ity
,decr
easei
nowner
’scapi
tal
.
h)Decr
easei
nli
abi
l
ity
,incr
easei
nowner
’scapi
tal
.