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BUSINESS ACCOUNTING

TABLE OF CONTENTS
Q1.)..............................................................................................................................................3
Q2.)..............................................................................................................................................4
Q3.)..............................................................................................................................................6
Q4................................................................................................................................................7
Q 6.).............................................................................................................................................9
Q7.)............................................................................................................................................10
Q8.)............................................................................................................................................11
Q9.)............................................................................................................................................12
Q10.)..........................................................................................................................................13
REFERENCES..............................................................................................................................14

Q1.)
(i)
a) As, Assets= Liabilities+ Capital
20000=0+Capital
Hence, Capital=20000
b) 15000=5000+Capital
Hence, Capital=10000
c) 16400=Liabilities+8850
Liabilities=16400-8850=7550
d) Assets=3850+10250=14100
e) 25380=Liabilities+6950
Hence, Liabilities=25380-6950=18340
(ii)
S.no. Particular
of
transactions
Assets = Liabilities +
Capital
Bank + Computer + Van – A Abela = Loan +
Capital
1. Introduction
of capital in
the bank for
starting
business
8000
8000
8000 =
8000
2. Bought
computer
(4000) 4000

with cheque
4000 4000 =
8000
3. loan
acquisition
through
cheque
3000 = 3000
7000 4000 = 3000
8000
4. Bought van
by Cheque
(6000) 6000
1000 4000 6000 = 3000
8000
5. Received
payment
from a/c
receivable
250 (250)
1250 + 4000 + 6000 - 250 = 3000 +
8000
Q2.)
T-a/cs
Capital A/c
Date Particulars Amount Date Particulars Amount
1/1/2021 By Bank A/c 25000
31/1/21 To Balance c/d 25000
1/2/2021 By Balance b/d 25000
Business Bank A/c
Date Particulars Amount Date Particulars Amount

1/1/2021 To Capital a/c 25000 2/1/2021 By Rent a/c 2000
10/1/2021 To Sales a/c 6000 31/1/21 By Balance c/d 29000
1/2/2021 To Balance b/d 29000
Rent A/c
Date Particulars Amount Date Particulars Amount
2/1/2021 To Bank a/c 2000
31/1/21 By Balance c/d 2000
1/2/2021 To Balance b/d 2000
Purchase A/c
Date Particulars Amount Date Particulars Amount
3/1/2021 To Linda A/c 5000 30/1/21 By Linda A/c 2000
5/1/2021 To Sydney A/c 3000 31/1/21 By Balance c/d 6000
1/2/2021 To Balance b/d 6000
Linda A/c
Date Particulars Amount Date Particulars Amount
30/1/21 To Purchase a/c 2000 3/1/2021 By Purchase a/c 5000
31/1/21 To Balance c/d 3000
1/2/2021 By Balance b/d 3000
Motor Car a/c
Date Particulars Amount Date Particulars Amount
4/1/2021 To Savoy
Motors
4000
31/1/21 By Balance c/d 4000
1/2/2021 To Balance b/d 4000
Savoy Motors a/c
Date Particulars Amount Date Particulars Amount

4/1/2021 By Motor car
a/c
4000
31/1/21 To Balance c/d 4000
1/2/2021 By Balance b/d 4000
Sydney A/c
Date Particulars Amount Date Particulars Amount
5/1/2021 By Purchase a/c 3000
31/1/21 To Balance c/d 3000
1/2/2021 By Balance b/d 3000
Sales A/c
10/1/2021 By Bank a/c 6000
31/1/21 To Balance c/d 14000 18/1/2021 By Ann a/c 8000
1/2/2021 By Balance b/d 14000
Ann A/c
18/1/21 To Sales a/c 8000
31/1/21 By Balance c/d 8000
1/2/2021 To Balance b/d 8000
Q3.)
Trial Balance as on 31 December 2020
A/c particulars Debit Credit
Capital 139200
Purchases 108600
Sales 146400
Machinery 135800