Scribd
Upload
36 views2 pages

Grade 11 Accountancy Holiday Homework: Assignment 1

Uploaded by

revaarora29
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
36 views2 pages

Grade 11 Accountancy Holiday Homework: Assignment 1

Uploaded by

revaarora29
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

GRADE 11

ACCOUNTANCY HOLIDAY HOMEWORK


ASSIGNMENT 1

ACCOUNTING EQUATION

Q. Show the effect of following transactions on Accounting Equation:

1. Started Business with Cash 10,00,000; Bank Balance 2,00,000; Furniture 50,000; Machinery 5,00,000
and Goods worth 50,000.
2. Purchased goods from M/s Shaurya Enterprises of list price 1,50,000 at 5% cash discount. Half of the
amount was paid immediately.
3. Sold goods for cash costing 40,000 at a profit of 20% and on credit costing 72,000 at a profit of 25%.
4. Borrowed 1,00,000 from Nandita
5. Purchased household goods for 15,000 giving 5,000 in cash and balance through cheque.
6. Purchased furniture for office use 6,000 and for 4,000 for personal use from Divyam.
7. Life Insurance Premium paid in cash 5,000.
8. Deposited into Bank 5,000.
9. Sold office furniture at cost to Aastha for 1,000. Aastha paid only 600 in cash immidiately.
10. Astha paid 300 as full and final payment.
11. Paid rent for 15 months for office accommodation15,000.
12. Purchased Goods from Aman Industries for 60,000 on credit
13. Sold Goods to Shayma of list price 50,000 @ 10% trade discount and 5% cash discount. Shayma paid
40% amount immediately.
(HINT: Trade discount is not reflected in the books, cash discount is given on cash payment only)
14. Paid Salaries 25,000
15. Outstanding wages 10,000.

ASSIGNMENT 2

Read the given transactions carefully


(i) Started business with capital- ₹ 5,00,000
(ii) Sold goods to Sanjay on credit – ₹ 50,000
(iIi) Sold goods to Mohan for cash – ₹ 20,000
(iv) Purchased goods from Ram on credit – ₹ 25,000
(v) Cash received from Sanjay – ₹ 19,000
(vi) Goods returned by Sanjay – ₹ 2,000
(vii) Paid rent – ₹ 500
(viii) Cash paid to Ram – ₹ 15,000
(ix) Cash deposited in bank- 10,000

Now state the nature of accounts and state which account will be debited and which account will be
credited as per the table given below:

S.No. Transactions Accounts Nature of Debit (₹) Credit (₹)


involved Account

Assignment 3: Portfolio Task


(to be done on A4 size sheets)
Make your project vibrant, colourful, use flow charts, pictures/ cutouts where ever possible
Q1. Creatively explain the assets and liabilities and their types.
Q2. Creatively draw and explain the accounting cycle

You might also like