Question

How to solve accounting problem of class 11?

Answer 1

$\huge\blue{Answer}$

For accounting equation, balance the equation i.e., Capital + Liability = Assets

✔Whenever Capital is introduced, it has a double impact on cash and capital. (money is added to both)

✔When salaries are paid, it has a double impact on cash and capital (money is subtracted from both)

✔Furniture purchased = Money added to Furniture and subtracted from cash

✔Rent paid = subtracted from Capital and cash

✔Goods purchased on credit = Added to Credit and Stock/Goods

For Journal :-

Firstly you have to identify the transactions as credit or debit.

REFER TO THE ATTACHMENTS FOR EXAMPLE.

HOPE IT HELPS U !!

Answer 2

Answer:

For accounting equation, balance the equation i.e., Capital + Liability = Assets

✔Whenever Capital is introduced, it has a double impact on cash and capital. (money is added to both)

✔When salaries are paid, it has a double impact on cash and capital (money is subtracted from both)

✔Furniture purchased = Money added to Furniture and subtracted from cash

ForJournal:-

Firstly you have to identify the transactions as credit or debit.

REFER TO THE ATTACHMENTS FOR EXAMPLE.