10 Received Security Deposit of Rs 6,000/-.

2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on C

3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

4 Depreciation on Furniture needs to be provided @ 10% basis.

5 Cash withdrawn for personal use (drawings) Rs 5,000/-.

6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

7 pay Salary Rs 3,000/- in Cash.

8 Commission received in Advance of Rs 4,000/- in Cash.

9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.

Sr.No. ASSETS
1 Cash
50000
,000/- at Profit of 20 % on Cost.

12,000/-.

SSETS LIABILITY + CAPITAL

Y + CAPITAL
Owner quity
50000
 Question (Accounting Equations)
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
4 Depreciation on Furniture needs to be provided @ 10% basis.
5 Cash withdrawn for personal use (drawings) Rs 5,000/-.
6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
7 Pay Salary Rs 3,000/- in Cash.
8 Commission received in Advance of Rs 4,000/- in Cash.
9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.
10 Received Security Deposit of Rs 6,000/-.

Sr.No Assets

1 Cash Stock Furniture Receivable

50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 10000
12000

4 -8000

5 -5000

6 -3000

7 -3000

8 4000

9 -3000

10 6000
TOTAL 49000 54000 72000 15000

LIABILITIES AMOUNT
Capital
Capital Balance 190000
Liability
Creditor
Outstanding Salary A/c
Commission Received in Advance
Security Deposit A/c 6000

TOTAL 196000
 iture worth Rs 80,000/-.
Rs 15,000/-
rth Rs 12,000/-.

Total Liabilities + Capital

Advance Rent Capital Expenses Payables Receipts

190000 50000
60000
80000

190000

202000
12000

194000 -8000

189000 -5000

2000 188000 -1000

185000 -3000

189000 4000

186000 -3000

192000
 2000 1905000 190000 -20000 12000 4000

ASSETS AMOUNT
Fixed Assets
Furniture 72000
Current Asset
Stock 54000
Prepaid Rent 2000
Debtors
Cash Balance 49000
Receivable 15000

TOTAL 192000
 Total

Security Deposit

190000

190000

202000

194000

189000

188000

185000

189000

186000

6000 192000
6000 1905000
Question (Accounting Equations)
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
Pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

Sr No. Assets
1 Cash Stock Furniture Receivables Rent
50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 10000
12000

4 -8000

5 -5000

6 -3000 2000

7 -3000

8 4000

9 -3000

10 6000
Total 49000 54000 72000 15000 2000

Liabilities Amt Assets Amt

Capital 170000 Cash 49000
Payables 12000 Stock 54000
Deposit 6000 Furniture 72000
Commission 4000 Receivables 15000
Rent 2000
Total 192000 Total 192000
/-.

Total Liablities Owners Equity

Payables Security DepositCommission Expenses Cash
190000 Stock
Furniture

190000

202000 12000

194000 -8000

189000 -5000

188000 -1000

185000 -3000

189000 4000

186000 -3000

192000 6000
12000 6000 4000 -20000
ers Equity Total
50000
60000
80000 190000

190000

202000

194000

189000

188000

185000

189000

186000

192000
190000
 1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
1 Started Business with Cash Rs 50,
1 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on C
1
1 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
1
1 Depreciation on Furniture needs to be provided @ 10% basis.
1
5 Cash withdrawn for personal use (drawings) Rs 5,000/-.

6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

7 pay Salary Rs 3,000/- in Cash.

8 Commission received in Advance of Rs 4,000/- in Cash.

9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.

10 Received Security Deposit of Rs 6,000/-.

Sr.No. ASSETS
1 Cash Furniture Stock
50000 80000 60000

2 10000 -10000 Receivables

-15000
3 -10000 10000
12000
4 -8000
worth Rs 80,000/-.
ed Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
,000/- at Profit of 20 % on Cost.

12,000/-.

Total Sr.No. LIABILITES

Capital
190000 Cash 50000
Furniture 80000
Stock 60000
15000 Payables
Total
190000

12000
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Started Business with Cash Rs 50,
2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on C

3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

4 Depreciation on Furniture needs to be provided @ 10% basis.

5 Cash withdrawn for personal use (drawings) Rs 5,000/-.

6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

7 pay Salary Rs 3,000/- in Cash.

8 Commission received in Advance of Rs 4,000/- in Cash.

9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.

10 Received Security Deposit of Rs 6,000/-.

Assets
1 cash stock furniture
50000 60000 80000

2 -10000 10000
-15000

3 -10000
worth Rs 80,000/-.
ed Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
,000/- at Profit of 20 % on Cost.

12,000/-.

Liabilties
receviables total payables expenses Receipts
190000

15000 190000
capital
50000
60000
80000 190000

190000
 Question (Accounting Equations)
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80
2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
4 Depreciation on Furniture needs to be provided @ 10% basis.
5 Cash withdrawn for personal use (drawings) Rs 5,000/-.
6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
7 Pay Salary Rs 3,000/- in Cash.
8 Commission received in Advance of Rs 4,000/- in Cash.
9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.
10 Received Security Deposit of Rs 6,000/-.

Sr. No. Asset

1 Cash Stock
50,000 60,000

2
10,000 -10,000
-15,000

3 -10,000 10,000
12,000

5 -5,000

6 -3,000

7 -3,000

8 4,000

9 -3000

10 6000
 LIABILITIES AMOUNT
Capital
Capital Balance
Liability
Creditor
Outstanding Salary A/c
Commission Received in Advance
Security Deposit A/c
and Furniture worth Rs 80,000/-.
Costing Rs 15,000/-
Basis worth Rs 12,000/-.
is.

ce Rent.

Total Liability

Furniture Receivable Advance Rent 190000 Payables

80,000 50,000
60,000
80,000

15,000 190000

202000 12,000

-8,000 194,000

189000

2000 188000

185000

189000

186000

192000 6000
 ASSETS AMOUNT
Fixed Assets
Furniture
Current Asset
Stock
Prepaid Rent
Debtors
Cash Balance
 Total

Expenses Receipt

190000

190000

202000

-8000 194000

189000

-1000 188000

-3,000 185000

4,000 189000

-3000 186000
###
###
192000
###
 Question (Accounting Equations)
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80
2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
4 Depreciation on Furniture needs to be provided @ 10% basis.
5 Cash withdrawn for personal use (drawings) Rs 5,000/-.
6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
7 Pay Salary Rs 3,000/- in Cash.
8 Commission received in Advance of Rs 4,000/- in Cash.
9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.
10 Received Security Deposit of Rs 6,000/-.

Sr. No. Asset

1 Cash Stock
50,000 60,000

2
10,000 -10,000
-15,000

3 -10,000 10,000
12,000

5 -5,000

6 -3,000

7 -3,000

8 4,000

9 -3000

10 6000
 LIABILITIES AMOUNT
Capital
Capital Balance
Liability
Creditor
Outstanding Salary A/c
Commission Received in Advance
Security Deposit A/c
and Furniture worth Rs 80,000/-.
Costing Rs 15,000/-
Basis worth Rs 12,000/-.
is.

ce Rent.

Total Liability

Furniture Receivable Advance Rent 190000 Payables

80,000 50,000
60,000
80,000

15,000 190000

202000 12,000

-8,000 194,000

189000

2000 188000

185000

189000

186000

192000 6000
 ASSETS AMOUNT
Fixed Assets
Furniture
Current Asset
Stock
Prepaid Rent
Debtors
Cash Balance
 Total

Expenses Receipt

190000

190000

202000

-8000 194000

189000

-1000 188000

-3,000 185000

4,000 189000

-3000 186000
###
###
192000
###
 Question (Accounting Equations)
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,0
2 Sold Goods for Cash Costing Rs 10,000/- and on Credi
3 Purchased Goods worth Rs 10,000/- in Cash and on C
4 Depreciation on Furniture needs to be provided @ 10
5 Cash withdrawn for personal use (drawings) Rs 5,000
6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as A
7 Pay Salary Rs 3,000/- in Cash.
8 Commission received in Advance of Rs 4,000/- in Cash
9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.
10 Received Security Deposit of Rs 6,000/-.

Sr. No Assets
Cash Stock
1 50,000 60,000

2 10,000 -10,000
-15,000

3 -10,000 10,000
12,000

5 -5,000

6 -3,000

7 -3,000

8 4,000

9 -3,000

10 6,000
Total 49,000 54,000
LIABILITIES
Capital
Equity
Liability
Payables
Advance Com
Security Dep

TOTAL
ng Equations)
h Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
rth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
niture needs to be provided @ 10% basis.
personal use (drawings) Rs 5,000/-.
0/- which includes Rs 2,000/- as Advance Rent.
- in Cash.
d in Advance of Rs 4,000/- in Cash.
g Rs 3,000/- destroyed by Fire.
eposit of Rs 6,000/-.

Assets Total
Furniture Recievables Advance Rent Payables
80,000 190,000

15,000 190,000

202,000 12,000

-8,000 194,000

189,000

2,000 188,000

185,000

189,000

186,000

192,000
72,000 15000 2000 12,000
AMOUNT ASSETS AMOUNT
Fixed Assets
170000 Furniture 72000
Current Asset
12000 Stock 54000
4000 Receivable 15000
6000 Advance Rent 2000
Cash Balance 49000

192000 TOTAL 192000

 Liability Owner's Equity
Comission Recieved Security Deposit Expenses Reciept

-8,000

-5,000

-1,000

-3,000

4,000

-3,000

6,000
4000 6000 -20000
's Equity Total
Capital
50,000
60,000
80,000 190,000

190,000

202,000

194,000

189,000

188,000

185,000

189,000

186,000

192,000
190,000
170,000
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
Pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

Sr. No Assets
Cash Stock Furniture Receviable Advance Rent
re worth Rs 80,000/-.
15,000/-
Rs 12,000/-.

Total Liabilities Total

Payable Commission Received Security deposit
Owner's Equity Total
Expense Receipt Capital
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.

Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on C

Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

Depreciation on Furniture needs to be provided @ 10% basis.

Cash withdrawn for personal use (drawings) Rs 5,000/-.

Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

pay Salary Rs 3,000/- in Cash.

Commission received in Advance of Rs 4,000/- in Cash.

Goods (Stock) costing Rs 3,000/- destroyed by Fire.

Received Security Deposit of Rs 6,000/-.

worth Rs 80,000/-.

,000/- at Profit of 20 % on Cost.

12,000/-.

Sr.No. ASSETS
Cash Stock Furniture Receivable
50,000 60,000 80,000

10,000 -10,000
-15,000 15,000

-10,000 10,000
12,000

-8,000

-5,000

-3,000

-3,000

4,000
 Total Sr.No. LIABILITES
Advance Rent Payables Expenses Receipt Owner Equity
190000 50,000
60,000
80000

190000 190000

202000 12,000 202000

194,000 -8000 194000

189000 189000

2000 188000 -1000 188000

185000 -3,000 185000

BILITES Total

190000
1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Started Business with Cash Rs 50,
2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on C

3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

4 Depreciation on Furniture needs to be provided @ 10% basis.

5 Cash withdrawn for personal use (drawings) Rs 5,000/-.

6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

7 pay Salary Rs 3,000/- in Cash.

8 Commission received in Advance of Rs 4,000/- in Cash.

9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.

10 Received Security Deposit of Rs 6,000/-.

Liabilities
1 Capital Payables
50000
60000
80000

3
12000

5 -5000

7
worth Rs 80,000/-.
ed Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
,000/- at Profit of 20 % on Cost.

12,000/-.

total Assets
Expenses Receipts Cash
50000

190000

10000
190000

-10000
202000

-8000 194000

189000 -5000

-1000 188000 -3000

 total
Stock Furniture Receivable Advance Rent
60000 80000

190000

-10000
-15000 15000 190000

10000
12000 202000

-8000 194000

189000

2000 188000
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on Cost.
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

SR.NO Assets

Cash Stock Furniture Receivable Advance Rent

1 50,000 60,000 80,000

2 10,000 -10,000
-15,000 15,000

3 -10,000 10,000
12,000

4 -8,000

5 -5,000

6 -3000

7 3,000

8 4000

9 -3000

10 6000
/-.
f 20 % on Cost.

Total SR.No Liabilities

Capital Expenses Payables Receipt

190000 50,000
60,000
80,000

190000

202000

194000

189000

188000

185000

189000

186000
 Total

Security Deposit

190000
Sr.No Assets Total

1 Cash Stock Furniture Receivable Advance Rent

50000 60000 80000 190000

2 10000 -10000
-15000 15000 190000

3 -10000 10000 202000

12000

4 -8000 194000

5 -5000 189000

6 -3000 2000 188000

7 -3000 185000

8 4000 189000

9 -3000 186000

10 6000 192000
 Liabilities + Capital Total

Capital Expenses Payables Receipts

50000
60000
80000 190000

190000

12000 202000

-8000 194000

-5000 189000

-1000 188000

-3000 185000

4000 189000

-3000 186000
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on Cost.
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

Sr.No Assets

1 Cash Stock Furniture Receivable

50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 10000
12000

4 -8000

5 -5000

6 -3000

7 -3000

8 4000

9 -3000

10 6000

TOTAL 49000 54000 72000 15000

 LIABILITIES AMOUNT
Capital
Equity 170000
Liability
Payables 12000
Advance Commission Received 4000
Security Deposit 6000

TOTAL 192000

Create an Accounting Equation on the basis of the following transactions:

i. Commenced business with cash Rs. 50,000, goods Rs. 30,000 and furniture Rs. 20,000
ii. Sold goods to Ajay on credit costing Rs. 4,000 for Rs. 5,000
iii. Sold goods for cash costing Rs. 12,000 for Rs. 16,000
iv. Purchased goods for cash Rs.40,000
v. Purchased goods on credit for Rs.20,000
vi. Paid rent Rs.3,000 including Rs.2,000 in advance
vii. Paid salaries Rs.2,000
viii. Sold goods costing Rs.8,000 for Rs.10,000
ix. Salaries outstanding Rs.1,000
x. Charge Depreciation on furniture Rs.500

Sr.No ASSETS

1 Cash Stock Furniture Receivables

50000 30,000 20,000

2 -4000 5000

3 16000 -12000
4 -40000 40000

5 20000

6 -3000

7 -2000

8 10000 -8000

10 -500

Total 31000 66000 19500 5000

LIABILITIES AMOUNT
Capital
Equity 95500
Profit 7000
Liability
Payables 21000

TOTAL 123500
h Rs 80,000/-.
/- at Profit of 20 % on Cost.
00/-.

Total Liabilities + Capital

Advance Rent Capital Expenses

190000 50000
60000
80000

190000

202000

194000 -8000

189000 -5000

2000 188000 -1000

185000 -3000

189000

186000 -3000

192000

2000 1905000 190000 -20000

 170000

ASSETS AMOUNT
Fixed Assets
Furniture 72000
Current Asset
Stock 54000
Receivable 15000
Advance Rent 2000
Cash Balance 49000

TOTAL 192000

ture Rs. 20,000

Total Liabilities + Capital

Advance Rent Capital Income Payables

100000 50000
30000
20000

101000 1000

105000 4000
 105000

125000 20000

2000 124000

122000

124000 2000

124000 1000

123500

2000 1153500 100000 7000 21000

95500

ASSETS AMOUNT
Fixed Assets
Furniture 19500
Current Asset
Stock 66000
Receivable 5000
Advance Rent 2000
Cash Balance 31000

TOTAL 123500
Liabilities + Capital Total

Payables Receipts Security Deposit

190000

190000

12000 202000

194000

189000

188000

185000

4000 189000

186000

6000 192000

12000 4000 6000 1905000

Capital Total

Expenses

100000

101000

105000
 105000

125000

-1000 124000

-2000 122000

124000

-1000 124000

-500 123500

-4500 1153500
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
cash a/c dr. 50000
stock dr. 60000
furniture a/c dr. 80000
to owner's equity 190000

Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on Cost.
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

SR No - Assets

1 Cash Stock Furniture Receivable Advance Rent

50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 10000
12000

4 -8000

5 -5000

6 -3000 2000

7 -3000

8 4000
9 -3000

10 6000

TOTAL 49000 54000 72000 15000 2000

LIABILITIES AMOUNT ASSETS

Capital Fixed Assets
Equity 170000 Furniture
Liability Current Asset
Payables 12000 Stock
Advance Commis 4000 Receivable
Security Deposi 6000 Advance Rent
Cash Balance

TOTAL 192000 TOTAL

Create an Accounting Equation on the basis of the following transactions:

i. Commenced business with cash Rs. 50,000, goods Rs. 30,000 and furniture Rs. 20,000
ii. Sold goods to Ajay on credit costing Rs. 4,000 for Rs. 5,000
iii. Sold goods for cash costing Rs. 12,000 for Rs. 16,000
iv. Purchased goods for cash Rs.40,000
v. Purchased goods on credit for Rs.20,000
vi. Paid rent Rs.3,000 including Rs.2,000 in advance
vii. Paid salaries Rs.2,000
viii. Sold goods costing Rs.8,000 for Rs.10,000
ix. Salaries outstanding Rs.1,000
x. Charge Depreciation on furniture Rs.500

SR No - Assets

1 Cash Stock Furniture Receivable Advance Rent

50000 30000 20000
 2 -4000 5000

3 16000 -12000

4 -40000 40000

5 20000

6 -3000 2000

7 -2000

8 10000 -8000

10 -500

Total 31000 66000 19500 5000 2000

LIABILITIES
Capital
Equity
Profit
Liability
Payables

TOTAL
/-.

/-.
f 20 % on Cost.

Total Liabilities + Capital

Capital Expenses Payables

190000 50000
60000
80000

190000

202000
12000

194000 -8000

189000 -5000

188000 -1000

185000 -3000

189000
 186000 -3000

192000

1905000 190000 -20000 12000

170000

AMOUNT

72000

54000
15000
2000
49000

192000

Total Liabilities + Capital

Capital Expenses Payables

100000 50000
 30000
20000

101000

105000

105000

125000 20000

124000 -1000

122000 -2000

124000

124000 -1000 1000

123500 -500

1153500 100000 -4500 21000

AMOUNT ASSETS AMOUNT

Fixed Assets
95500 Furniture 19500
7000 Current Asset
Stock 66000
21000 Receivable 5000
Advance Rent 2000
Cash Balance 31000

123500 TOTAL 123500

ities + Capital Total

Receipts Security Deposit

190000

190000

202000

194000

189000

188000

185000

4000 189000
 186000

6000 192000

4000 6000 1905000

lities + Capital Total

Income Security Deposit

 100000

1000 101000

4000 105000

105000

125000

124000

122000

2000 124000

124000

123500

7000 1153500
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

Depreciation on Furniture needs to be provided @ 10% basis.

Cash withdrawn for personal use (drawings) Rs 5,000/-.

Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

pay Salary Rs 3,000/- in Cash.

Commission received in Advance of Rs 4,000/- in Cash.

Goods (Stock) costing Rs 3,000/- destroyed by Fire.

Sr.No. ASSETS
cash Stock Furniture receivable
50000 60000 80000
 Total Sr.No. LIABILITES
advance Rent payable expenses
BILITES Total
receipts
 Cash Asset Owner's equity
Furniture
50,000 80,000 50,000
Stock
60,000

Assets
sr.no cash stock furniture receivables Total

1 50,000 60000 190000

2 10000 -10000 10000

-15000 15000 190000

3 10000 -10000 202000

12000

4 -8000 194000
 Liabilities
payable expenses receipt Capital Total

50,000
60,000
80,000 190000

190000

12000 202000

-8000 194000
Equation nom. 2
Sr. no Assets Total
1 cash goods furniture
50,000 30,000 20,000 100,000
Sr. no. Liabilities
1
 Total
Capital
Question (Accounting Equations)
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/-
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
Pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

Sr. no ASSETS
CASH Furniture Stock Receivables

1 50,000 80,000 60,000

2 10,000 -10,000
-15000 15000

3 -10,000 10,000
12000

4 -8,000

5 -5,000

6 -3000

7 -3000

8 4000

9 -3000

10 6,000
 49,000 72,000 57,000 15,000

LIABILITIES Amount

Capital 170000
Liabilities
Payables 12,000
Adv Comission Received 4,000
Security Deposit 6,000

Total 192000
re worth Rs 80,000/-.
15,000/-
Rs 12,000/-.

Total Liabilities +Capital

Advance Rent Payables Comission Received Security Deposit

1,90,000

1,90,000

2,02,000 12,000

1,94,000

1,89,000

2,000 1,88,000

1,85,000

1,89,000 4,000

1,86,000

1,92,000 6,000
 2,000 12,000 4,000 6,000

ASSETS Amount

Fixed Assets
Furniture 72000
Current Assets
Stock 54,000
Receivables 15,000
Advance Rent 2,000
Cash Balance 49,000

Total 192000
 Total
Expenses Receipts Capital

1,90,000 1,90,000

1,90,000

2,02,000

-8,000 1,94,000

-5000 1,89,000

-1000 1,88,000

-3000 1,85,000

1,89,000

-3,000 1,86,000

1,92,000
17,000 1,87,000
Sr no. ASSETS
CASH STOCK FURNITURE RECEIVABLES

1 50000 30000 20000

2 -4000 5000

3 16000 -12000

4 -40000 40000

5 20000

6 -3000

7 -2000

8 10,000 -8000

10
 Total LIABILITIES+CAPITAL
ADV RENT PAYABLES OUTSTANDING SALARIES EXPENSES AND RECEIPTS

100000

101000

105000

105000

125000 20000

2000 124000 -1000

122000 -2000

124000

124000 1000 -1000

 Total
ENSES AND RECEIPTS Capital

100000 100000

1,000 101000

4000 105000

105000

125000

124000

122000

2000 124000

124000
Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Profit of 20 % on Cost.
Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.
Depreciation on Furniture needs to be provided @ 10% basis.
Cash withdrawn for personal use (drawings) Rs 5,000/-.
Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.
pay Salary Rs 3,000/- in Cash.
Commission received in Advance of Rs 4,000/- in Cash.
Goods (Stock) costing Rs 3,000/- destroyed by Fire.
Received Security Deposit of Rs 6,000/-.

Asset

1 cash stock furniture debtors

50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 22000

4 -8000

5 -5000

6 -3000

7 -3000

8 4000

9 -3000

10 6000
/-.
f 20 % on Cost.

total liability + capital

advance rent payables expenses reciepts

190000

190000

202000 12000

194000 -8000

189000

2000 188000 1000

185000 3000

189000

186000 -3000

192000 6000
adv.comm. owners equity 50000
cash 60000
cash 80000 190000

190000

202000

194000

-5000 189000

188000

185000

4000 189000

186000

192000
Sr.No. ASSETS
1 Cash Stock Furni Receivable
50000 60000 80000

2 10000 -10000
-15000 15000

3 -10000 10000
12000

4 -8000

5 -5000

6 -3000

7 -3000

8 4000

9 -3000

10 6000

1 Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80

2 Sold Goods for Cash Costing Rs 10,000/- and on Credit basis Costing Rs 15,000/- at Pr

3 Purchased Goods worth Rs 10,000/- in Cash and on Credit Basis worth Rs 12,000/-.

4 Depreciation on Furniture needs to be provided @ 10% basis.

5 Cash withdrawn for personal use (drawings) Rs 5,000/-.

6 Paid Rent of Rs 3,000/- which includes Rs 2,000/- as Advance Rent.

7 pay Salary Rs 3,000/- in Cash.

8 Commission received in Advance of Rs 4,000/- in Cash.

9 Goods (Stock) costing Rs 3,000/- destroyed by Fire.

10 Received Security Deposit of Rs 6,000/-.

 Total LIABILITY + CAPITAL
Payable Expenses Capital
190000 50000
60000
80000 190000

202000

194000 -8000

-5000

-1000 -2000

-3000

-4000

-3000

6000

/- and Furniture worth Rs 80,000/-.

Started Business with Cash Rs 50,000/-, Stock Rs 60,000/- and Furniture worth Rs 80,000/-.
asis Costing Rs 15,000/- at Profit of 20 % on Cost.

it Basis worth Rs 12,000/-.

basis.

vance Rent.
TAL

/-.
 Accounting Equation
Sr.No. ASSETS
1 Cash stock furniture
50000 60000 80000

2 10000 -10000
-15000
3 -10000 10000
12000
4 -8000

5 -5000

6 -3000

7 -3000

8 4000

9 -3000

10 6000
ing Equation
SSETS Total LIABILITY + CAPITAL
Recievable Advance owners capital Payables
190000 50000
60000
80000

15000 190000

202000 12000

194000

189000 -5000

2000 188000

185000

189000

186000

192000

1905000
Y + CAPITAL Total
expenses reciept

190000

190000

202000

-8000 194000

189000

-1000 188000

-3000 185000

4000 189000

-3000 186000

6000 192000

1905000
 Accounting Eq
Q1. Sr.No. ASSETS
1 Cash
50000

2 10000

3 -10000

5 -5000

6 -3000

7 -3000

8 4000

10 6000
Q2
Sr.No. ASSETS
1 Cash Goods
50000 30000

2 -4000

3 16000 -12000

4 -40000 40000

5 20000

6 -3000

7 -2000

8 10000 -8000

10

LIABILITIES
Capital
Capital Balance
Liability
Creditor
Outstanding Salary A/c
Commission Received in Advance
Security Deposit A/c

TOTAL
 Accounting Equation
ASSETS Total
stock furniture Recievable Advance
60000 80000 190000

-10000 15000 190000

-15000
10000 202000
12000
-8000 194000

189000

2000 188000

185000

189000

-3000 186000

192000

1905000

LIABILITIES AMOUNT ASSETS AMOUNT

Capital Fixed Assets
Capital Balance 170000 Furniture 72000
Liability Current Asset
Creditor 12000 Stock 54000
Outstanding Salary A/c 0 Prepaid Rent 2000
Commission Received in Advance 4000 Debtors 15000
Security Deposit A/c 6000 Cash Balance 49000

TOTAL 192000 TOTAL 192000

ASSETS Total LIABI
Furniture Recievables Advances Owners equity
20000 100000 50000
30000
20000

5000 101000 1000

105000 4000

105000

125000

2000 124000

122000

124000 2000

124000 -1000

-500 123500

AMOUNT ASSETS AMOUNT

Fixed Assets
102500 Furniture 19500
Current Asset
20000 Stock 66000
1000 Prepaid Rent 2000
 0 Debtors 5000
0 Cash Balance 31000

123500 TOTAL 123500

 LIABILITY + CAPITAL Total
owners capital Payables expenses reciept
50000
60000
80000 190000

190000

12000 202000

-8000 194000

-5000 189000

-1000 188000

-3000 185000

4000 189000

-3000 186000

6000 192000

1905000
 LIABILITY + CAPITAL Total
Payables Expenses Outstanding exp
100000

101000

105000

105000

20000 125000

-1000 124000

-2000 122000

124000

1000 124000

-500 123500
SR no Assets Capital+Liabilities
1 cash 50000 equity 50000
furniture 60000
stock 80000