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Acc 6

This worksheet for Class XI Accountancy focuses on the Accounting Equation, presenting various exercises related to calculating liabilities, effects of transactions on the equation, and determining changes in assets, capital, and expenses. It includes practical scenarios for students to apply their understanding of accounting principles. Additionally, it requires students to prepare accounting equations and balance sheets based on given transactions.

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14 views2 pages

Acc 6

This worksheet for Class XI Accountancy focuses on the Accounting Equation, presenting various exercises related to calculating liabilities, effects of transactions on the equation, and determining changes in assets, capital, and expenses. It includes practical scenarios for students to apply their understanding of accounting principles. Additionally, it requires students to prepare accounting equations and balance sheets based on given transactions.

Uploaded by

aanyapreesha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Worksheet No.

(2)
Class: XI
Student Name: ______________ Subject: Accountancy (055) Date:
Chapter – Accounting Equation
1. The position of a business on 30th June 2021 was as follows: - Cash -Rs. 5,000; Debtors – Rs.
20,000; Machinery Rs. 60,000; Stock – Rs. 25,000; Capital – Rs. 75,000. Calculate liabilities.
2. What will be the effect of the following on the Accounting Equation: -
a. Purchased goods from Rs. 20,000 from Mahesh on credit.
b. Paid wages Rs. 500
c. Sold goods to Suresh costing Rs. 12,000 to Rs. 15,000.
d. Withdrew cash for private use Rs. 2,000.
e. Paid to creditors Rs. 5,000.
3. Capital will reduce by:
a. Purchase of goods on credit
b. Selling of goods for cash
c. Furniture purchased for personal use
d. None of these
4. Liabilities increased by:
a. Purchase of goods on credit
b. Rent due
c. Taking bank loan
d. All of these
5. Assets increased by:
a. Selling goods for cash
b. Selling goods on credit
c. Purchasing machinery for cash
d. Purchasing machinery on credit
6. Both assets and owner’s equity would increase by:
a. Proprietor’s drawings
b. Purchased furniture on cash
c. Payment to creditors
d. Profits earned
7. Expenses paid by business decreases:
a. Cash
b. Capital
c. Both a and b
d. None of the above
8. Find out the value of account receivable from the following:
Cash Rs. 40,000; account payable Rs. 30,000; office equipment Rs. 20,00; Owner’s equity Rs.
80,000.
a. 1,70,000
b. 50,000
c. 10,000
d. 20,000

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Sarvo am Interna onal School/2023-24 1|Page
9. Mohit has the following transactions, prepare Accounting Equation:

(₹)
(a) Business started with cash 1,75,000
(b) Purchased goods from Rohit 50,000
(c) Sold goods on credit to Manish (costing ₹ 17,500) 20,000
(d) Purchased furniture for office use 10,000
(e) Cash paid to Rohit in full settlement 48,500
(f) Cash received from Manish 20,000
(g) Rent paid 1,000
(h) Cash withdrew for personal use 3,000

10. Show the accounting equation on the basis of the following transactions and present a Balance Sheet
of the last new equation balance:
(₹)
(i) Mohan commenced business with 70,000
(ii) Purchased goods on Credit 14,000
(iii) Withdrew for private use 1,700
(iv) Purchased goods for Cash 10,000
(v) Paid wages 300
(vi) Paid to Creditors 10,000
(vii) Sold goods on Credit at par 15,000
(viii) Sold goods for Cash (cost price was ₹ 3,000) 4,000
(ix) Purchased furniture for cash 500

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Sarvo am Interna onal School/2023-24 2|Page

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