{"id":24308,"date":"2022-09-18T15:31:21","date_gmt":"2022-09-18T10:01:21","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=24308"},"modified":"2025-12-22T10:18:37","modified_gmt":"2025-12-22T04:48:37","slug":"11th-bk-chapter-2-practical-problems","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/","title":{"rendered":"11th BK Chapter 2 Practical Problems &#8211; Maharashtra Board &#8211; Free Resource"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e2029170029\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e2029170029\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#11th_BK_Chapter_2_Practical_Problems\" >11th BK Chapter 2 Practical Problems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Chapter_2_%E2%80%93_Meaning_and_Fundamentals_of_Double_Entry_Book-Keeping\" >Chapter 2 &#8211; Meaning and Fundamentals of Double Entry Book-Keeping<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q1_Answer_in_one_sentence_only\" >Q.1 Answer in one sentence only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q2_Write_one_wordterm_or_phrase_which_can_substitute_each_of_the_following_statements\" >Q.2 Write one word\/term or phrase which can substitute each of the following statements.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q3_Select_the_most_appropriate_alternatives_from_those_given_below_and_rewrite_the_statements\" >Q.3 Select the most appropriate alternatives from those given below and rewrite the statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q4_State_whether_the_following_statements_are_true_or_false_with_reasons\" >Q.4 State whether the following statements are true or false with reasons<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q5_Fill_in_the_blanks\" >Q.5 Fill in the blanks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q6_Classify_the_following_accounts_under_the_types_of_Personal_Real_and_Nominal_accounts\" >Q.6 Classify the following accounts under the types of Personal, Real, and Nominal accounts.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q7_Complete_the_following_Accounting_equation_table\" >Q.7 Complete the following Accounting equation table.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Q8_Give_necessary_transactions_for_the_following_effect_of_increase_and_decrease_in_Assets_Capital_and_Liabilities\" >Q.8 Give necessary transactions for the following effect of increase and decrease in Assets, Capital, and Liabilities.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#11th_BK_Chapter_2_Practical_Problems-2\" >11th BK Chapter 2 Practical Problems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#11th_BK_Textbook_Solutions\" >11th BK Textbook Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/#Check_out_other_posts_related_to_11th_Commerce\" >Check out other posts related to 11th Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_BK_Chapter_2_Practical_Problems\"><\/span>11th BK Chapter 2 Practical Problems<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/08\/11th-BK-Chapter-2-Practical-Problems-1024x576.webp\" alt=\"11th BK Chapter 2 Practical Problems\" class=\"wp-image-24525 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/08\/11th-BK-Chapter-2-Practical-Problems-1024x576.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/08\/11th-BK-Chapter-2-Practical-Problems-300x169.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/08\/11th-BK-Chapter-2-Practical-Problems-768x432.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/08\/11th-BK-Chapter-2-Practical-Problems.webp 1280w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">11th BK Chapter 2 Practical Problems<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_2_%E2%80%93_Meaning_and_Fundamentals_of_Double_Entry_Book-Keeping\"><\/span><strong>Chapter 2 &#8211; <strong><strong>Meaning and Fundamentals of Double Entry Book-Keeping<\/strong><\/strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_Answer_in_one_sentence_only\"><\/span>Q.1 Answer in one sentence only<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) What is Double Entry System?<br>Answer:<\/strong> The double Entry System is the most scientific method of recording all business transactions in the books of accounts. Under this system, double or two fold effects of each transaction is recorded.<\/p>\n\n\n\n<p><strong>2) What is an Account?<br>Answer:<\/strong> An account is a ledger record in a summarized form of all the transactions that have taken place with the particular person or thing specified.<\/p>\n\n\n\n<p><strong>3) State the meaning of Single Entry System.<br>Answer:<\/strong> This system of accounting records only Cash books and Personal accounts. It is unscientific method and also known as an incomplete recording system, because it changes with the convenience of business for recording transactions.<\/p>\n\n\n\n<p><strong>4) What is Personal Account?<br>Answer:<\/strong> This account represents a person and group of persons with whom business deals.<\/p>\n\n\n\n<p><strong>5) State the rule of Nominal Account.<br>Answer:<\/strong> The account of expenses, losses, income, and gains are called as Nominal accounts e.g. Wages A\/c, Stationery A\/c, Salary A\/c, etc.<\/p>\n\n\n\n<p><strong>6) Give two examples of intangible assets?<br>Answer:<\/strong> Goodwill A\/c, Patents A\/c, Trademark A\/c, Copyright A\/c, etc.<\/p>\n\n\n\n<p><strong>7) State the meaning of Real Account.<br>Answer:<\/strong> This account represents assets and properties owned by the business.<\/p>\n\n\n\n<p><strong>8) Give two examples of income and gains.<br>Answer:<\/strong> Commission Received A\/c, Discount Received A\/c, etc.<\/p>\n\n\n\n<p><strong>9) State the rule of Personal Account.<br>Answer:<\/strong> Debit the receiver, Credit the giver<\/p>\n\n\n\n<p><strong>10) How many methods of recording accounting information are there?<br>Answer:<\/strong> <br>1) Indian System<br>2) English System<br>A) Single Entry System<br>B) Double Entry System<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q2_Write_one_wordterm_or_phrase_which_can_substitute_each_of_the_following_statements\"><\/span>Q.2 Write one word\/term or phrase which can substitute each of the following statements.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Method of Accounting which records both aspects of transaction.<br>Answer:<\/strong> Double entry system<\/p>\n\n\n\n<p><strong>2) Right-hand side of an account.<br>Answer:<\/strong> Credit side.<\/p>\n\n\n\n<p><strong>3) Name of the account which is debited when proprietor uses business money for personal use.<br>Answer:<\/strong> Drawing A\/c<\/p>\n\n\n\n<p><strong>4) Accounts of Assets and Properties.<br>Answer:<\/strong> Real A\/c<\/p>\n\n\n\n<p><strong>5) Accounts of Expenses and Losses and Incomes and Gains.<br>Answer:<\/strong> Nominal A\/c<\/p>\n\n\n\n<p><strong>6) Left-hand side of an account.<br>Answer:<\/strong> Debit side<\/p>\n\n\n\n<p><strong>7) The Assets which cannot be seen, touched or felt.<br>Answer:<\/strong> Intangible Assets<\/p>\n\n\n\n<p><strong>8) Person who invented the Double Entry System.<br>Answer:<\/strong> LUCA D. BARGO PACIOLI<\/p>\n\n\n\n<p><strong>9) Incomplete system of recording business transactions.<br>Answer:<\/strong> Single entry system<\/p>\n\n\n\n<p><strong>10) Scientific system of recording business transactions.<br>Answer:<\/strong> Double entry system<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q3_Select_the_most_appropriate_alternatives_from_those_given_below_and_rewrite_the_statements\"><\/span>Q.3 Select the most appropriate alternatives from those given below and rewrite the statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) International Accounting day is observed on _____.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) 10th November <br><\/mark><\/strong>b) 12th November<br>c) 10th December <br>d) 15th December<\/p>\n\n\n\n<p><strong>2) Conventional system of accounting is _____.<\/strong><br>a) English entry system <br>b) Double entry system<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Indian system <br><\/mark><\/strong>d) None of these<\/p>\n\n\n\n<p><strong>3) Every debit has a corresponding _____.<\/strong><br>a) Debit <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Credit <br><\/mark><\/strong>c) Right-hand side <br>d) None of these<\/p>\n\n\n\n<p><strong>4) Radha`s Account is a type of _____ account.<\/strong><br>a) Nominal <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Personal <br><\/mark><\/strong>c) Real <br>d) Expenses<\/p>\n\n\n\n<p><strong>5) Machinery Account is _____ account.<\/strong><br>a) Nominal <br>b) Income <br>c) Personal <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Real<\/mark><\/strong><\/p>\n\n\n\n<p><strong>6) Goodwill is _____ asset.<br><\/strong>a) Tangible <br>b) Current <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) an intangible <br><\/mark><\/strong>d) None of these<\/p>\n\n\n\n<p><strong>7) Prepaid expenses is _____ account.<\/strong><br>a) Real <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Personal <br><\/mark><\/strong>c) Nominal <br>d) Income<\/p>\n\n\n\n<p><strong>8) Debit the receiver, Credit the _____.<\/strong><br>a) Goes out <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Giver <br><\/mark><\/strong>c) Income and gains <br>d) Comes in<\/p>\n\n\n\n<p><strong>9) Debit what comes in, Credit what _____.<br><\/strong>a) Giver <br>b) Expenses and losses<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) Goes out <br><\/mark><\/strong>d) Income and gains<\/p>\n\n\n\n<p><strong>10) Debit all _____ and Credit all income and gains.<br><\/strong>a) Giver <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) Expenses and losses <br><\/mark><\/strong>c) Goes out <br>d) None of these<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\">Solution of all Chapters of BK<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\">3<\/a> &#8211; 4 &#8211; 5 &#8211; 6 &#8211; 7 &#8211; 8 &#8211; 9 &#8211; 10<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q4_State_whether_the_following_statements_are_true_or_false_with_reasons\"><\/span>Q.4 State whether the following statements are true or false with reasons<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Outstanding expense is a nominal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Outstanding expenses are personal accounts. It is a representative personal account. Expenses are payable to some person.<\/p>\n\n\n\n<p><strong>2) Capital account is a real account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Capital is a personal account. Amount invested in the business by the proprietor is capital. A proprietor is a natural person.<\/p>\n\n\n\n<p><strong>3) Every debit has equal and corresponding credit.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Under the Double Entry System, the two-fold effects of each transaction are recorded. Under this system one account is to be debited and another is to be credited with an equal amount.<\/p>\n\n\n\n<p><strong>4) Discount received is a nominal account.<br>Answer:<\/strong> True<br><strong>Reason:<\/strong> Discount received in an income for the business. All expenses and income come under the Nominal account.<\/p>\n\n\n\n<p><strong>5) Drawing account is a nominal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> The drawing is a Personal account. Drawing means cash on goods withdrawn by the proprietor for personal use. As the proprietor is a Personal account his drawings are also a Personal account.<\/p>\n\n\n\n<p><strong>6) Outstanding salary is a nominal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Outstanding salary is Personal account. Salary is the amount payable to staff. As he is a person, the amount payable to him is a personal account. It is a Representative Personal account.<\/p>\n\n\n\n<p><strong>7) Loan account is a personal account.<br>Answer:<\/strong> True<br><strong>Reason:<\/strong> The loan is taken from a person or bank and they are persons either natural or person or artificial persons.<\/p>\n\n\n\n<p><strong>8) Goodwill account is a real account.<br>Answer:<\/strong> True<br><strong>Reason:<\/strong> All properties\/assets come under real accounts. Goodwill is an intangible asset so goodwill is a Real account.<\/p>\n\n\n\n<p><strong>9) Discount account is a nominal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Trade discount is a noncash transaction it is not recorded in the books of account so it doesn\u2019t fall under any account.<\/p>\n\n\n\n<p><strong>10) Personal transactions of proprietor are recorded in the books of account of business.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Personal transactions of proprietors are not recorded in the books of account of business. Only business transactions are recorded in the books of account of business as businesses have a separate entity.<\/p>\n\n\n\n<p><strong>11) Motor car account is a Real Account.<br>Answer:<\/strong> True<br><strong>Reason:<\/strong> All properties and assets fall under real accounts. A motor car is a property so it is a real account.<\/p>\n\n\n\n<p><strong>12) The rule of Nominal Account in Debit the receiver and Credit the giver.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> The rule of the Nominal account is to debit all expenses and losses Credit all incomes and gains.<\/p>\n\n\n\n<p><strong>13) Bank loan account is a Nominal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> The bank account is a Personal account. It is a representative person.<\/p>\n\n\n\n<p><strong>14) Assets = Capital + Liabilities<br>Answer:<\/strong> True<br><strong>Reason:<\/strong> Total assets are always equal to total liabilities. Total liabilities include capital also.<br>So Assets = Capital + Liabilities.<\/p>\n\n\n\n<p><strong>15) Trademark account is a personal account.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Trademark is a real account. All tangible and intangible assets are properties and they fall under real account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_Fill_in_the_blanks\"><\/span>Q.5 Fill in the blanks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Increase in asset is debited and decrease in asset is _____.<\/strong><br><strong>Answer:<\/strong> Credited<\/p>\n\n\n\n<p><strong>2) Assets = Liabilities + _____<\/strong><br><strong>Answer:<\/strong> Capital<\/p>\n\n\n\n<p><strong>3) Increase in capital is credited and decrease in capital is _____.<br>Answer:<\/strong> Debited<\/p>\n\n\n\n<p><strong>4) Scientific and complete system of recording is known as _____.<\/strong><br><strong>Answer:<\/strong> Double Entry System<\/p>\n\n\n\n<p><strong>5) Debit all expenses and losses, Credit all _____.<br>Answer:<\/strong> Income and Gains<\/p>\n\n\n\n<p><strong>6) Land and Building account is _____ account.<br>Answer:<\/strong> Real<\/p>\n\n\n\n<p><strong>7) Cash Book and Personal Accounts are only maintained under _____ system.<br>Answer:<\/strong> Single Entry<\/p>\n\n\n\n<p><strong>8) Debit what comes in and credit what goes out is the rule of _____ account.<br>Answer:<\/strong> Real<\/p>\n\n\n\n<p><strong>9) Travelling expenses account is _____ type of Account.<br>Answer:<\/strong> Nominal<\/p>\n\n\n\n<p><strong>10) Every transaction has _____ effect.<br>Answer:<\/strong> Two Fold<\/p>\n\n\n\n<p><strong>11) _____ accounts are accounts of properties and assets.<br>Answer:<\/strong> Real<\/p>\n\n\n\n<p><strong>12) Laptop account is a _____ account.<br>Answer:<\/strong> Real<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6_Classify_the_following_accounts_under_the_types_of_Personal_Real_and_Nominal_accounts\"><\/span>Q.6 Classify the following accounts under the types of Personal, Real, and Nominal accounts.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>1) Mr. Rohit\u2019s capital A\/c<\/td><td>2) Loose Tools A\/c<\/td><\/tr><tr><td>3) Drawing A\/c<\/td><td>4) Cartage A\/c<\/td><\/tr><tr><td>5) Prepaid Rent A\/c<\/td><td>6) Copyright A\/c<\/td><\/tr><tr><td>7) Patent A\/c<\/td><td>8) Outstanding Income A\/c<\/td><\/tr><tr><td>9) Prepaid Expenses A\/c<\/td><td>10) Commission Received A\/c<\/td><\/tr><tr><td>11) Freight A\/c<\/td><td>12) Plant and Machinery A\/c<\/td><\/tr><tr><td>13) Sundry Income A\/c<\/td><td>14) Live Stock A\/c<\/td><\/tr><tr><td>15) Goods distributed as free sample A\/c<\/td><td>16) Radhika`s A\/c<\/td><\/tr><tr><td>17) Outstanding Wages A\/c<\/td><td>18) Loss on Sale of Furniture A\/c<\/td><\/tr><tr><td>19) Bank of Maharashtra A\/c<\/td><td>20) Loan A\/c<\/td><\/tr><tr><td>21) Computer A\/c<\/td><td>22) Legal Expenses A\/c<\/td><\/tr><tr><td>23) Fixed Deposit A\/c<\/td><td>24) Income Receivable A\/c<\/td><\/tr><tr><td>25) Audit Fees A\/c<\/td><td>26) Trademark A\/c<\/td><\/tr><tr><td>27) Loss by fire A\/c<\/td><td>28) Motor Car A\/c<\/td><\/tr><tr><td>29) Income tax A\/c<\/td><td>30) GST A\/c (Goods and Service Tax)<\/td><\/tr><tr><td>31) Siddhivinayak Trust A\/c<\/td><td>32) Office Equipment A\/c<\/td><\/tr><tr><td>33) Stock of Stationery A\/c<\/td><td>34) Indian Railways A\/c<\/td><\/tr><tr><td>35) Income Received in Advance A\/c<\/td><td>36) Dividend on Investment A\/c<\/td><\/tr><tr><td>37) Discount A\/c<\/td><td>38) Raj &amp; company A\/c<\/td><\/tr><tr><td>39) Repairs A\/c<\/td><td>40) Royalty A\/c<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Personal A\/c<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Real A\/c<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Nominal A\/c<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Mr. Rohit\u2019s capital A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">2) Loose Tools A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">4) Cartage A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) Drawing A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">6) Copyright A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">10) Commission Received A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Prepaid Rent A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">7) Patent A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">11) Freight A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Outstanding Income A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">12) Plant and Machinery A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">13) Sundry Income A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Prepaid Expenses A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">14) Live Stock A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">15) Goods distributed as free sample A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">16) Radhika`s A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">21) Computer A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">18) Loss on Sale of Furniture A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">17) Outstanding Wages A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">23) Fixed Deposit A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">22) Legal Expenses A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">19) Bank of Maharashtra A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">26) Trademark A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">25) Audit Fees A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">20) Loan A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">28) Motor Car A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">27) Loss by fire A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">24) Income Receivable A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">32) Office Equipment A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">30) GST A\/c (Goods and Service Tax)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">29) Income tax A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">33) Stock of Stationery A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\">36) Dividend on Investment A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">31) Siddhivinayak Trust A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">37) Discount A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">34) Indian Railways A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">39) Repairs A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">35) Income Received in Advance A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\">40) Royalty A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">38) Raj &amp; company A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\">Solution of all Chapters of BK<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\">3<\/a> &#8211; 4 &#8211; 5 &#8211; 6 &#8211; 7 &#8211; 8 &#8211; 9 &#8211; 10<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q7_Complete_the_following_Accounting_equation_table\"><\/span>Q.7 Complete the following Accounting equation table.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Transaction<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Assets (Rs)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Liabilities (Rs)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Capital (Rs)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1. Started business with<br>Cash Rs 50,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">50,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">0<\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>50,000<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2. Purchased goods of<br>Rs 10,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">50,000<br>(+) 10,000<br>(-) 10,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">0<br><br><\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\">50,000<br><br><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3. Goods stolen Rs 1,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">50,000<br>(-) 1,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">0<\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\">50,000<br>(-) 1,000<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4. Sold goods for cash<br>Rs 5,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">49,000<br>(+) 5,000<br>(-) 5,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">0<\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\">49,000<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5. Loan taken from<br>Bank Rs 7,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">49,000<br>(+) 7,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">0<br>(+) 7,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\">49,000<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Total<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">56,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">=<\/td><td class=\"has-text-align-center\" data-align=\"center\">7,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">+<\/td><td class=\"has-text-align-center\" data-align=\"center\">49,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q8_Give_necessary_transactions_for_the_following_effect_of_increase_and_decrease_in_Assets_Capital_and_Liabilities\"><\/span>Q.8 Give necessary transactions for the following effect of increase and decrease in Assets, Capital, and Liabilities.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Sold goods for cash.<\/td><td>Increase in Assets<br>Decrease in Assets<\/td><\/tr><tr><td>Goods costing Rs 10,000 Sold for Rs 13,000<\/td><td>Increase in Capital<br>Increase in Assets<\/td><\/tr><tr><td>Payment made to our creditor Mr. Anil of Rs 10000<\/td><td>Decrease in Liabilities<br>Decrease in Assets<\/td><\/tr><tr><td>Goods costing Rs 5000 were destroyed by fire.<\/td><td>Decrease in Assets<br>Decrease in Capital<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"11th_BK_Chapter_2_Practical_Problems-2\"><\/span><strong>11th BK Chapter 2<\/strong> <strong>Practical Problems<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Q. 1 Prepare a chart showing an Analysis of the following transactions in a Tabular form according to Traditional Approach:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Rajasaheb started business with cash Rs 85,000.<\/li>\n\n\n\n<li>Goods Purchased for cash Rs 5,000.<\/li>\n\n\n\n<li>Sold goods on credit worth Rs 6,000.<\/li>\n\n\n\n<li>Cash deposited into Bank of Maharashtra Rs 12,000.<\/li>\n\n\n\n<li>Interest received Rs 700 from Radhika.<\/li>\n\n\n\n<li>Paid Rent Rs 2,000 to landlord.<\/li>\n\n\n\n<li>Bought goods on credit from Birajmohan Rs 7,000.<\/li>\n\n\n\n<li>Withdrew cash from bank Rs 1,000 for office use.<\/li>\n\n\n\n<li>Purchased computer Rs 9,000 for cash.<\/li>\n\n\n\n<li>Paid Mobile bill (office) Rs 500.<\/li>\n\n\n\n<li>Sold old Mobile Rs 2,000.<\/li>\n\n\n\n<li>Received Rent Rs 1,000 from tenant.<\/li>\n<\/ol>\n\n\n\n<p><strong>Solution:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"692\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1-1024x692.webp\" alt=\"11th BK Chapter 2 Practical Problems Q No 1\" class=\"wp-image-25425 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1-1024x692.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1-300x203.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1-768x519.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1-1536x1037.webp 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-1.webp 1922w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/692;\" \/><\/figure>\n\n\n\n<p><strong>Q. 2 Prepare Chart showing Analysis of the following transaction in a Tabular form according to Modern Approach.<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Mr. Meghraj started business with cash Rs 30,000.<\/li>\n\n\n\n<li>Deposited cash into Bank of India Rs 2,000.<\/li>\n\n\n\n<li>Withdrew cash Rs 1,000 for personal use.<\/li>\n\n\n\n<li>Purchased goods on credit from Nilesh Rs 2,000.<\/li>\n\n\n\n<li>Cash purchases Rs 3,000.<\/li>\n\n\n\n<li>Paid Wages Rs 400.<\/li>\n\n\n\n<li>Purchase a chair for office use Rs 3.200.<\/li>\n\n\n\n<li>Sold goods to Mohan worth Rs 1,200.<\/li>\n\n\n\n<li>Withdrew Cash for Office use Rs 3,000.<\/li>\n\n\n\n<li>Sold old furniture Rs 9,000.<\/li>\n\n\n\n<li>Received Dividend of Rs 1,000.<\/li>\n\n\n\n<li>Paid for Printing bill book Rs 200.<\/li>\n<\/ol>\n\n\n\n<p><strong>Solution:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"702\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2-1024x702.webp\" alt=\"11th BK Chapter 2 Practical Problems Q No 2\" class=\"wp-image-25421 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2-1024x702.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2-300x206.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2-768x526.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2-1536x1053.webp 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/11th-BK-Chapter-2-Practical-Problems-Q-No-2.webp 1812w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/702;\" \/><\/figure>\n\n\n\n<p><strong>Q.3 Give the accounting equation for the following transactions.<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Mr. Vaibhav started business with Cash Rs 1,00,000.<\/li>\n\n\n\n<li>Purchased goods on credit from Rita Stores Rs 9,000.<\/li>\n\n\n\n<li>Purchase Laptop for office use Rs 10,000.<\/li>\n\n\n\n<li>Sold goods to Rina on credit Rs 12,000.<\/li>\n\n\n\n<li>Received Interest Rs 2,500<\/li>\n\n\n\n<li>Paid Telephone bill Rs 1,300.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"496\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM-1024x496.png\" alt=\"11th BK Chapter 2 Practical Problems Q No 3\" class=\"wp-image-25405 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM-1024x496.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM-300x145.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM-768x372.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM-1536x745.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-11.08.27-AM.png 1712w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/496;\" \/><\/figure>\n\n\n\n<p><strong>Q. 4 Give the accounting equation for the following transactions.<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Mr. Swaraj commenced business with Bank balance Rs 1,10,000.<\/li>\n\n\n\n<li>Purchased Furniture on credit from S.M Furniture Mart Rs 25,000.<\/li>\n\n\n\n<li>Bought goods on credit from Yuvraj Rs 15,000.<\/li>\n\n\n\n<li>Purchased Machinery Rs 10,000.<\/li>\n\n\n\n<li>Paid Electricity bill Rs 3,500.<\/li>\n\n\n\n<li>Goods destroyed by fire Rs 1,500.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"502\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM-1024x502.png\" alt=\"11th BK Chapter 2 Practical Problems\" class=\"wp-image-25410 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM-1024x502.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM-300x147.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM-768x376.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM-1536x753.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.16.19-PM.png 1714w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/502;\" \/><\/figure>\n\n\n\n<p><strong>Q. 5 Show the accounting equation for the following transactions.<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Rohit started business with cash Rs 50,000.<\/li>\n\n\n\n<li>Bought goods on credit from Manoj Rs 6,000.<\/li>\n\n\n\n<li>Cash purchases Rs 5,000.<\/li>\n\n\n\n<li>Paid wages Rs 3,000 to Casual labour.<\/li>\n\n\n\n<li>Sold goods to Santosh Rs 7,000 on credit.<\/li>\n\n\n\n<li>Received Commission Rs 1,000 from Vaishali.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"502\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1-1024x502.png\" alt=\"11th BK Chapter 2 Practical Problems Q No 5\" class=\"wp-image-25417 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1-1024x502.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1-300x147.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1-768x377.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1-1536x754.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/09\/Screenshot-2022-09-24-at-12.19.01-PM-1.png 1712w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/502;\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\">Solution of all Chapters of BK<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\">3<\/a> &#8211; 4 &#8211; 5 &#8211; 6 &#8211; 7 &#8211; 8 &#8211; 9 &#8211; 10<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_BK_Textbook_Solutions\"><\/span>11th BK Textbook Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1) Introduction to Book-Keeping and Accountancy<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/\">3) Journal<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) Ledger<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Subsidiary Books<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Bank Reconciliation Statement<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) Depreciation<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Rectification of Errors<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Final Accounts of a Proprietary Concern<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10) Single Entry System<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_11th_Commerce\"><\/span>Check out other posts related to 11th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Textbook Solutions of 11th Commerce (All Subjects)<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\"> Free PDF of 11th Commerce Textbooks <\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[5354],"class_list":["post-24308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-11th-bk-chapter-2-practical-problems"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/24308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=24308"}],"version-history":[{"count":10,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/24308\/revisions"}],"predecessor-version":[{"id":40960,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/24308\/revisions\/40960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/24525"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=24308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=24308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=24308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}