Exercises on Accounting Equation

Show the Accounting Equation on the basis of following transactions:

(Rs.)
Set 1
1. Ram Started business with cash 50000
2. Purchased goods on redit from !" #000
$. Purchased goods for ash 1000
#. Purchased %urniture for ash 500
5. Paid Rent 200
&. Recei'ed !nterest 100
(. Sold goods on redit to )!"*cost Rs 500+ (00
,. Paid to !" #00
-. Paid Salaries 200
10. Rent outstanding 200
Set 2
1. ommenced .usiness with cash 50000
2. Purchased goods for ash Rs 20000 and on redit from !" Rs $0000 50000
$. Sold goods for cash*cost Rs $0000+ #0000
#. Rent Paid 500
5. Rent outstanding 100
&. .ought %urniture on credit from %urniturewala 5000
(. Purchased om/uter for cash 20000
,. Paid !nterest 200
-. Recei'ed !nterest 1000
10. Sold 0oods on cash*cost Rs 5000+ (500
Set 3
1. Sunil started business with cash 150000
2. 1e /urchased a building and furniture for 100000
$. 1e /urchased goods from Ram on credit 50000
#. 1e /aid carriage 500
5. 1e sold to Sh2am on credit goods costing Rs &000 -000
&. Recei'ed rent from tenants 1000
(. Recei'ed refundable securit2 de/osit from tenants Rs 10000
,. Purchased stationer2 for cash 100
-. !n'ested in shares */ersonal in'estment made out of /ersonal funds+ 50000
10. Recei'ed interest in cash 200
11. !ntroduced fresh ca/ital 25000
12. 0oods destro2ed b2 fire 500
Set 4
1. Anwar started business with
ash 20000
0oods 12000
3achine ,000
2. Purchased 0oods 5000
$. Sold 0oods *costing Rs 2000+ for 5000
#. Purchased 0oods on redit from 4 "td (000
5. Pa2ment made to 4 "td in full settlement *5o .ad )ebts+ &-00
&. Sold goods on credit *costing Rs 5#00+ to 6 "td &000
(. Pa2ment recei'ed from 6 "td 5,00
,. Salaries Paid #00
-. 7ages 8utstanding #00
10. Pre/aid !nsurance 100
11. Rent recei'ed $00
12. )e/reciate 3achiner2 b2 109 /.a. for 1 3onth
Set 5
1. !ntroduced a/ital of Rs ,00000 as cash and Rs 50000 as Stoc: 3aterial.
2. Purchased Plant for Rs $00000 from Plantco b2 /a2ing 15000 in cash and balance after 1
month.
$. )e/osited Rs &00000 into the S.! A;c #0-5.
#. Purchased office furniture for Rs 100000 and /a2ment made b2 heque.
5. Purchased Stoc: 3aterial worth Rs ,0000 for cash and Rs $5000 on credit from Ala "td.
&. 0oods costing Rs #5000 were sold for Rs &0000 on cash basis.
(. 0oods costing Rs ,0000 were sold for Rs 125000 on credit to <ransco "td.
,. Pa2ment made to Ala "td Rs $5000.
-. heque Recei'ed from <ransco "td.
10. Salar2 /aid Rs 5000.
11. !nterest Recei'ed Rs 10000.
Set 6
1. =erma de/osited Rs 200000 from his sa'ings in a ban: account which is in the name of the
firm.
2. Purchased office furniture for Rs 5000 from %urniture 3art on credit.
$. .illed clients for /rofessional ser'ices rendered> Rs $0000.
#. Paid in cash Rs 2000 to office Assistant as her salar2 for the month.
5. Paid office rent in cash Rs 1500.
&. Recei'ed /rofessional fees from clients not billed earlier> Rs 5000.
(. Paid electricit2 e?/enses> Rs #00 and tele/hone charges Rs &00.
,. ollected /a2ments from clients billed earlier> Rs -000. lients billed for Rs 5000 will not
/a2.
-. !nterest /aid Rs 2000.
10. Paid Rs #000 to it2 %urniture 3art.
Set 7
1. Stoc:holders in'ested Rs 200>000 cash> recei'ing common stoc: in e?change.
2. Paid Rs ,000 cash for A/ril office rent.
$. Purchased office equi/ment for Rs 25>000 cash.
#. !ncurred Rs $000 of ad'ertising costs in The Times of India, on account.
5. Paid Rs $500 cash for office stationar2.
&. Earned Rs 52>000 for ser'ices rendered: ash of Rs $0>000 is recei'ed from customers> and
the balance of Rs 22>000 is billed to customers on account.
(. Paid Rs 5000 cash di'idend.
,. Paid The Times of India amount due in transaction *#+.
-. Paid em/lo2ees@ salaries Rs (>500.
10. Rs 15>000 recei'ed from customers who ha'e /re'iousl2 been billed in transaction *&+.
Set 8
1. RaAan de/osited Rs $0000 in the com/an2Bs ban: account in e?change for $000 shares of Rs
10 each in the share ca/ital of the com/an2.
2. Purchased 8ffice stationar2 for cash> Rs $000.
$. Recei'ed Re'enue for ser'ices> Rs 25000.
#. <oo: a ban: loan> Rs $0000.
5. .illed customers for ser'ices> Rs (000.
&. Paid assistantsB salar2> Rs &000> office rent> Rs #000 and =an hire charges> Rs ,000 .
(. Re/aid a /art of the .an: "oan> Rs 5000.
,. Purchased a deli'er2 'an for ash> Rs $5000.
-. .illed and cash recei'ed for ser'ices /ro'ided> Rs $5000.
10. )eclared and /aid di'idends> Rs 5000.
Set 9
1. !ssued 100000 shares of Rs 10 each for cash. !ssue subscribed and all mone2 dul2 recei'ed.
2. !ssued 15000 shares of Rs 10 each for Equi/ment Rs 150000.
$. <oo: a Short <erm "oan from S.! Rs 100000 C 1,9 /.a.
#. Purchased Plant for Rs $0000.Paid in ash.
5. Paid .an: !nterest for 1 3onth.
&. )e/reciate Equi/ment C 109 /.a. for 1 3onth and Plant 159 /.a. for 1 3onth.