Prepare & Analyze Accounting Equations

Question No.1 9. Z paid 1/3 in cash and the remaining through cheque.
1. Mr. X started Business with Cash Rs. 1,00,000, Bank Rs. 10. Salaries paid for the month Rs. 10,000
50,000 Stock Rs. 40,000 11. Salaries outstanding for Jan Rs. 1,000
2. Purchased from Y goods worth Rs. 20,000 Question No.7
3. Wages paid Rs. 2,000 1. Mr. Haris started the business with Cash of Rs. 1,00,000, Bank
4. Paid a bill to Y for 5 months for the goods purchased from Rs. 50,000.
him on credit 2. He purchased Leasehold Premises – Rs. 1,80,000 and
5. Sold goods worth Rs. 30,000 to Z at Rs. 45,000 Machinery – Rs. 2,70,000
6. Z paid 1/3 in cash and the remaining through cheque. 3. Purchased from Bhoi & Son's goods worth Rs. 20,000 [ 80
7. Goods worth Rs. 2000 distributed as free samples. units] through cheque at a TD of Rs. 5 per unit.
8. Salaries paid for the month Rs. 10,000 4. Sold some goods to Ram & Sons for credit, 50 units @ Rs.
9. Purchased 4 livestock – Rs. 20,000. 1500 per unit at 12 Rs. per unit and Rs. 5 per unit as CD
10. Depreciation on machinery – Rs. 5,000. 5. Sold remaining goods for Rs. 50,000 and received the money
through cheque.
Question No.3 Mahesh was a fresh MBA pass out 2022. 6. Paid rent – Rs. 4,500.
He along with his two friends Lokesh and Boresh started a 7. Paid for general expenses Rs. 1,500
business where the investments were as follows. 8. Purchased office Stationary Rs. 2,000 through cheque.
Cash Bank Others 9. Purchased a motor van for the business – Rs. 2,00,000.
installation of the machinery Rs. 5,000
Mahesh 50,000 40,000 Land 1,00,000 10. Depreciation on machinery – Rs. 5,000.
Lokesh 25,000 50,000 Machinery 4,00,000 11. A loan is taken for Rs. 50,000.
Boresh 1,00,000 20,000 Furniture 75,000
The other transactions were : Question No. 8
a) Purchased stock from A for Rs. 1,50,000 for credit Raj started his business for Rs. 5,00,000.
b) Sold 50% of the goods for cash for Rs. 1,20,000 a) Purchased stock from A for Rs. 1,50,000 for credit
c) Paid electricity Rs. 3,000 b) Sold goods for cash for Rs. 1,20,000
d) Purchased office stationery Rs. 1,500 c) Paid electricity Rs. 3,000
e) Received commission Rs. 3,000 d) Purchased office stationery Rs. 1,500
f) paid to A 1,45,000 and he gave a discount of Rs. 5,000. e) Received commission Rs. 3,000
g) Profit of 20,000 distributed and withdrawn by all partners f) paid to A 1,45,000 and he gave a discount of Rs. 5,000.
h) Paid rent – Rs. 4,500. g) Paid Carriage on sales Rs. 450.
Question No.4 h) Sold goods to Ram & Sons for credit, 50 units @ Rs. 1500 per
I. X Started business with cash Rs. 1,00,000 Bank Rs. 1,50,000 unit.
Building Rs. 50,000 Stock Rs. 50,000. i) Paid interest on capital –12% and Harish withdrew the
II. Purchased goods from Prakash Rs. 30,000 and on cash Rs. amount for the business.
70,000. j) Purchased from Bhoi & Son's goods worth Rs. 20,000 [ 80
III. Sold goods worth Rs. 50,000 at Rs. 75,000 units] on credit.
IV. Paid rent Rs. 5,000. Question No. 9
V. Pain salary Rs. 20,000. I. X Started business with cash Rs. 1,00,000 Bank Rs. 1,50,000
VI. Received interest Rs. 25,000. II. Purchased Building Rs. 50,000
VII. Sold goods on credit to Mahesh for Rs. 50,000 [ goods costing III. Purchased machinery Rs. 50,000.
Rs. 24,000] IV. Purchased goods from Prakash Rs. 30,000 and on cash Rs.
VIII. Paid Prakash Rs. 10,000. 70,000.
IX. The building was purchased by the owner for Rs. 20,000 V. Sold goods worth Rs. 50,000 at Rs. 75,000
X. Paid telephone bill Rs. 3500. VI. Paid rent Rs. 5,000.
Question No.5 VII. Pain salary Rs. 20,000.
1. Murali started business with Cash Rs. 2,00,000 and Bank VIII. Received interest Rs. 25,000.
5,00,000. IX. Sold goods on credit to Mahesh for Rs. 50,000
2. Loan taken from HDFC for Rs. 4,50,000. X. Paid to Prakash Rs. 10,000.
3. Purchased Stock for Rs. 1,00,000 for cheque. XI. Building taken by the owner for Rs. 20,000
4. Sold the stock of 50,000 for Rs. 70,000. and as he paid in cash XII. Paid telephone bill Rs. 3500.
he got a discount of Rs. 2,000.
5. Loss of stock due to the fire of Rs. 10,000. Question No. 2
6. Insurance recovery of Rs. 8,500 received 1. Murali started the business with Cash of Rs. 2,00,000 and
7. Paid for charity Rs. 5,000. Bank of 5,00,000.
8. Paid provident Fund to a retiring employee Rs. 10,000. 2. Loan taken from HDFC for Rs. 4,50,000.
9. Salaries due not paid Rs. 20,000. 3. Purchased Stock for Rs. 1,00,000 for cheque.
10. Income tax paid by Murali Rs. 5,050. 4. Sold the stock of 50,000 for Rs. 70,000. and as he paid in cash
he got a discount of Rs. 2,000.
Question No.6 5. Loss of stock due to the fire of Rs. 10,000.
1. Mr. Xavi started the Business with Cash of Rs. 1,00,000. 6. Insurance recovery of Rs. 8,500 received
2. Purchased goods and paid through Bank Rs. 50,000 7. Paid for charity Rs. 5,000.
3. Purchased goods Rs. 40,000 from Mahesh. 8. Sales to ghanshyam Rs. 5,600 but the amount not yet received
4. Purchased from Y goods worth Rs. 20,000 at a TD of 20%. 9. Paid provident Fund to a retiring employee Rs. 10,000.
5. Wages paid Rs. 2,000. 10. Salaries due not paid Rs. 20,000. Dept 1
6. Paid a bill to Y for 5 months for the goods purchased from 11. Mr. Ghanshyam paid through a bill receivable.
him on credit 12. Rent due but not paid Rs. 2000
7. Mahesh was paid the amount due in a full settlement after Rs. 13. Salaries outstanding Rs. 15,000 dept 2
200 as a discount. 14. Income tax paid by Murali Rs. 5,050.
8. Sold goods worth Rs. Z at Rs. 45,000