# These solutions for Accounting Equationare very popular among Class 11 Commerce students for Accountancy Double Entry Book Keeping Ts Grewal  2021 Solutions for Class 11 Commerce Accountancy Chapter 5Accounting Equation’s solutions are available here with simple and proper sequence and steps with accurate explanations. Accounting Equation Solutions are handy for completing your fair notebooks on time and for preparation of exam. Everything questions and answers from the Book of Class 11 Commerce Accountancy Ts Grewal 2021, Double Entry Book Keeping, Chapter 5 are available here for absolutely free. The ad-free experience is specialty on this site’s Double Entry Book Keeping Ts Grewal 2021 Solutions. All Solutions for Class 11 Commerce Accountancy are solved by veteran, experienced and expert faculties.

#### Question 1:

What will be effect of the following on the Accounting Equation?
(i) Started business with cash  ` 45,000
(ii) Opened a Bank Account with a deposit of
` 4,500
(iii) Bought goods from M\s. Sun & Co. for
` 11,200

 S. No. Transactions Assets = Liabilities + Capital Cash ( `) + Bank ( `) + Stock ( `) = Creditors ( `) ( `) (i) Started business with cash 45,000 = 45,000 45,000 = 45,000 (ii) Opened a Bank Account with a deposit – 4,500 + 4,500 = 40,500 + 4,500 = 45,000 (iii) Bought goods from M/s. Sun & Co. 11,200 = 11,200 40,500 + 4,500 + 11,200 = 11,200 + 45,000

 Total Assets = Cash + Bank + Stock = 40,500 + 4,500 + 11,200 = ` 56,200 Liabilities = 11,200 Capital = 45,000

#### Question 2:

Show the Accounting Equation for the following transactions:

 ` (i) Gopinath started business with cash 25,000 (ii) Purchased goods from Shyam 10,000 (iii) Sold goods to Sohan costing  ` 1,800 1,500 (iv) Gopinath withdrew from business 5,000

 S. No Transactions Assets = Liabilities + Capital Cash ( `) + Stock ( `) + Debtors ( `) Creditors ( `) ( `) (i) Gopinath Started business with 25,000 = 25,000 25,000 = 25,000 (ii) Purchased goods from Shyam 10,000 10,000 25,000 + 10,000 = 10,000 + 25,000 (iii) Sold goods to Sohan – 1,800 + 1,500 = – 300 25,000 + 8,200 + 1,500 = 10,000 + 24,700 (iv) Gopinath withdrew from business –5,000 = – 5,000 20,000 + 8,200 + 1,500 = 10,000 + 19,700

 Assets = 20,000 + 8,200 + 1,500 = ` 29,700 Liabilities = ` 10,000 Capital = ` 19,700

#### Question 3:

Prepare an Accounting Equation and Balance Sheet on the following basis:
(i) Ajeet started business with cash
` 20,000.
(ii) He purchased furniture for  ` 2,000.
(iii) He paid rent of  ` 200.
(iv) He purchase goods on credit  ` 3,000.
(v) He sold goods (cost price  ` 2,000) for
` 5,000 on cash.

 S. No. Transaction Assets = Liabilities + Capital Cash ( `) + Furniture ( `) + Stock ( `) = ( `) (i) Ajit started business  ` 20,000 20,000 = 20,000 20,000 = 20,000 (ii) He purchased furniture for  ` 2,000 – 2,000 + 2,000 = 18,000 + 2,000 = 20,000 (iii) He paid Rent of  ` 200 – 200 = – 200 (expense) 17,800 + 2,000 = 19,800 (iv) He purchased goods on credit  ` 3,000 3,000 = 3,000 17,800 + 2,000 + 3,000 = 3,000 + 19,800 (v) He sold goods (cost price  ` (2,000) for  ` 5,000 on cash 5,000 + + –2,000 = 3,000 (Profit) 22,800 + 2,000 + 1,000 = 3,000 + 22,800

 Assets = 22,800 + 2,000 + 1,000 = ` 25,800 Liabilities = ` 3,000 Capital = ` 22,800

 Balance Sheet Liabilities Amount ( `) Assets Amount ( `) Capital 22,800 Cash 22,800 Creditors 3,000 Furniture 2,000 Stock 1,000 25,800 25,800

#### Question 4:

Prepare Accounting Equation from the following:
` 1,00,000 and Goods  ` 20,000.
(ii) Sold goods worth  ` 10,000 for cash
` 12,000.
(iii) Purchased furniture on credit for  ` 30,000.

 S. No. Transaction Assets = Liabilities + Capital Cash ( `) + Stock ( `) + Furniture ( `) = Creditors ( `) ( `) (i) Started business with cash  ` 1,00,000 and Goods  ` 20,000 1,00,000 + 20,000 = 1,20,000 1,00,000 + 20,000 = 1,20,000 (ii) Sold goods worth  ` 10,000 for cash  ` 12,000 12,000 – 10,000 = + 2,000 1,12,000 + 10,000 = 1,22,000 (iii) Purchased furniture on credit for  ` 30,000 30,000 = 30,000 1,12,000 + 10,000 + 30,000 = 30,000 + 1,22,000

 Assets = 1,12,000 + 10,000 + 30,000 = ` 1,52,000 Liabilities = ` 30,000 Capital = ` 1,22,000

Click below for More solutions

#### Question no. 1 to 4

Question no. 5 to 8

Question no. 9 to 12

Question no. 13 to 16

Question no. 17 to 20

Question no. 21 to 24