Important Questions for 11th Class | Accountancy score 90+ in Exams

Here is some Important Question for students of 11th Class and these questions will definitely help to understand chapter. these important questions cover whole chapter and after practice these important questions you don't have to nothing and you will score good in your final exams. My best wishes with you my dear students.

Chapter - 5th | Accounting Equation 

Q. 1 Prepare accounting equation from the following :

a)    started business with cash Rs. 100000.

b)    Purchased goods for cash Rs. 20000 & on credit Rs.30000.

c)    Sold goods for cash costing Rs. 10,000 & on credit costing Rs. 15,000 both at a profit of 20%.

Q. 2) Prepare accounting equation from the following :

a)    Commenced business with cash Rs. 60,000.

b)    Rent in advance Rs. 500.

c)    Purchased goods for cash Rs. 30,000 and credit Rs. 20,000.

d)    Sold goods for cash Rs. 30,000 costing Rs. 20,000.

e)    Paid salary Rs. 500 and salary outstanding being Rs. 100.

f)    Bought motorcycle for personal use Rs. 5000.

g)    Commission received in advance Rs. 200.

h)    Wages outstanding Rs.200.

Q. 3) Prepare accounting equation from the following :

a)    Commenced business with cash Rs. 80,000.

b)    Paid rent in advance Rs. 1,000.

c)    Purchased goods for cash Rs. 30,000 and credit Rs. 20,000.

d)    Sold goods costing Rs. 20,000 for Rs. 30,000.

e)    Paid salary Rs. 800 and salary outstanding Rs. 200.

Q. 4) Prepare accounting equation from the following :

a)    Dinesh started business with cash                                          1,50,000.

b)    Purchased building                                                               1,00,000

c)    Purchased goods from Rajiv on credit                                        50,000

d)    Sold goods to shyam on credit goods costing Rs 6,000                    9,000

Q. 5) Prepare accounting equation from the following :

a)    Commenced business with cash Rs. 15,00,000,goods Rs. 30,000 and furniture Rs 20,000.

b)    Purchase a buildings from Sohan. Paid by raising a loan from SBI Rs. 5,00,000.

c)    Paid interest on loan Rs. 20,000 and installment of Rs. 2,00,000.

Q. 6) Prepare accounting equation from the following :

a)    Started business with cash Rs. 70,000.

b)    Credit purchase of goods Rs. 18,000.

c)    Payment made to creditors Rs. 17,500 in full settlement.

d)    Purchase of machinery for cash 20,000.

e)    Depreciation on machinery Rs. 2,000.

Q. 7) Prepare accounting equation from the following :

a)    Commenced business with cash Rs.50,000.

b)    Purchased goods for cash Rs.20,000 and credit Rs.30,000.

c)    Sold goods for cash Rs.40,000 (costing 20,000).

d)    Rent paid Rs.500, salaries Rs.5,000.

e)    Rent outstanding Rs.100, salary outstanding Rs.1,000.

f)    Bought furniture Rs.5,000 on credit.

g)    Bought refrigerator for personal use Rs.5,000.

h)    Purchase computer for cash Rs.20,000.

i)     Cash withdrawn for personal use Rs.10,000.

j)     Interest on drawing charge Rs.500 and interest on capital Rs.1,000.