The Total solution for NCERT class 6-12
Rs
(a)
Commenced business with cash
1,50,000
(b)
Purchased machinery on credit
40,000
(c)
Purchased goods for cash
20,000
(d)
Purchased car for personal use
80,000
(e)
Paid to creditors in full settlement
38,000
(f)
Sold goods for cash costing Rs 5,000
4,500
(g)
Paid rent
1,000
(h)
Commission received in advance
2,000
S.No.
Explanation
Assets
Liabilities
+
Capital
Cash
Machinery
Stock
=
Creditors
Unaccrued Income
Increase in cash
Increase in capital
NIL
Increase in machinery
Increase in creditors
Increase in stock
Decrease in cash
(20,000)
1,30,000
(80,000)
Decrease in capital (Drawings)
50,000
70,000
Decrease in creditors
(40,000)
(38,000)
(Discount received)
12,000
72,000
Decrease in stock
(5,000)
Decrease in capital (Loss)
(500)
16,500
15,000
71,500
(1,000)
Decrease in capital (Expense)
15,500
70,500
Increase in unaccrued income
17,500