Introduction to Accounting 1/1

Chapter One
01 Introduction to Accounting

1. Mr. Rahman started business on June 1, 2022 with a bank balance of Tk. 20,000. Cash in hand Tk.
30,000. Accounts payable Tk. 14,000 and furniture Tk. 15,000 in that month transaction’s during
that month are as follows:
June-3 A loan of Tk. 10,000 was taken from the bank.
June-8 Equipment purchase in cash Tk. 5,000.
June-13 Sales of good’s were Tk. 20,000 out of which Tk. 12,000 were received in cash
June17 Payment of salary Tk. 6,000
June-22 Cash purchase Tk. 4,000
June-30 Invest Tk. 20,000 @ 10%
Required:
(a) What is the amount of Mr. Rahman’s liabilities in that month?
(b) Show the effect of transactions on dated 1, 17, 22 and 30 on the accounting equation.
(c) Determine Mr. Rahman’s owner’s equity at the end of that month.
Answer: Dhaka Board-2023
a b c
a. Determination of the amount of Mr. Rahman’s liabilities:
Details Taka Taka
Accounts payable 14,000
Bank debt 10,000
24,000
b. Effect of transaction on Accounting equation:-
Date Assets Liabilities Owners’ equity
2022 Cash Bank Furniture Investment = A/c Capital
payable
Jun-1 30,000 20,000 15,000 = 14,000 51,000
Jun- (6,000) (6000)
17
Jun (4,000) = (4000)
22
Jun- (20,000) 20,000 =
30
- 20,000 15,000 20,000 = 14,000 41,000
Total 55,000 55,000
c. Determination the amount of Mr. Rahman’s owner’s equity:-
Date Details Tk. Tk.
2022
Jun-1 Capital (20,000+30,000+15,000-14,000) 51,000
Jun-13 (+) Sales 20,000
71,000
Jun-17 (-) Salary 6,000
65,000
Jun-22 (-) Product purchase 4,000
Closing Owner’s equity 61,000
2. Mr. Mamun started a business on 1st January, 2022 by investing Cash Tk. 80,000 and Machinery Tk.
40,000. During the month the following transactions occurred on his business.
2022
Introduction to Accounting 1/2
Jan-2 Opened a bank account by depositing Tk. 30,000.
Jan-5 Placed a purchase order valued Tk. 5,000.
Jan-8 Hired an accountant at a monthly salary of Tk. 8,000.
Jan-10 Supplies purchased on account Tk. 5,000.
Jan-12 Rent Paid in cash Tk. 800
Jan-20 Goods purchased on account Tk. 10,000.
Jan-25 Cash withdrawn by the proprietor amounted to Tk. 500.
Jan-31 Goods sold for cash Tk. 8,000
Required:
(a) From the above information find out the events which are not transactions.
(b) From January 1 to 12 transactions determine the related accounts and mention their normal
balance.
(c) Show the effects of the above transactions in the accounting equation on a tabular form.
Answer: Rajshahi Board-2023
a b c
a. Determination of events that are not regarded transaction:
Date Details Tk. Tk.
2022
Jan-5 Making agreement for purchase 5,000
Jan-8 Recruitment of accountant 8,000
13,000
b. Related Accounts of transaction and normal balance given below:
Date Related Account Normal Balance
2022
Jan-1 Cash A/C Debit
Machineries A/C Debit
Capital A/C Credit
Jan-2 Bank A/C Debit
Cash A/C Debit
Jan-10 Supplies A/C Debit
Accounts Payable Credit
Jan-12 Rent A/C Debit
Cash A/C Debit
c. Effect of transaction on Accounting Equation:
Date Asset = Liabilities Owner’s
2022 equity
Cash Machinery Bank Supplies = Accounts + Capital
payable
Jan-1 80,000 40,000 = + 1,20,000
Jan-2 (30,000) 30,000 = +
Jan-10 5,000 = 5,000 +
Jan-12 (800) = + (800)
Jan-20 = 10,000 + (10,000)
Jan-25 (500) = + (500)
Jan-31 = + 8,000
56,700 40,000 30,000 5,000 = 15,000 + 1,16,700
Total 1,31,700 1,31,700
3. Mr. Shakil started business with cash Tk. 80,000, office equipment Tk. 70,000 and bank loan Tk.
40,000 as on 1st June, 2022, Other transactions in the mentioned month are as follows:
June -2 Goods purchased on cash Tk. 10,000.
June -4 Paid income tax Tk. 2,000.
June -6 Salaries paid to office staff Tk. 8,000.
June-10 Laptop purchased for office Tk. 30,000.
June-15 Goods withdrawn for personal use Tk. 3,000.
Introduction to Accounting 1/3
June -28 Goods sold on cash Tk. 20,000.
Required:
(a) Determine the amount of total drawings of Mr. Shakil.
(b) Show the classification of accounts determining the account type of the transactions date 2, 4,
10 and 28:
(c) Present the effects of transactions date 1, 6, 10 & 28 in accounting equation using table.
Answer: Jessore Board-2023
a b c
a. Determination of total drawing:
Date Details Tk. Tk.
2022
June -4 Income tax payment 2,000
June-15 Goods Drawings 3,000
5,000
b. Classification of Accounts:
Date Account name Classification
2022 Purchase A/C Expense A/C
June-2 Cash A/C Asset A/C
June-4 Drawings A/C Owner’s equity A/C
Cash A/C Asset A/C
June-10 Office equipment A/C Asset A/C
Cash A/C Asset A/C
June-28 Cash A/C Asset A/C
Sales A/C Income A/C
c. Effect of transaction on Accounting Equations:
Date Assets = Liabilities + Owner’s equity
2022 Cash Office Bank = Bank debt + Capital
supplies
June-1 80,000 70,000 40,000 = 40,000 + 1,50,000
June-6 (8,000) = + (8,000)
June-10 (30,000) 30,000 = +
June-28 20,000 = + 20,000
62,000 1,00,000 40,000 = 40,000 + 1,62,000
2,02,000 2,02,000
4. On January 1, 2022, Mr. Anwar started a business with Tk. 2,40,000 of cash, Tk. 1,40,000 of office
equipment. Tk. 60,000 of Furniture and Tk. 2,00,000 of notes payable, and other transactions were:
January -5 Goods purchased with Tk. 60,000.
January -10 Furniture purchased on cash Tk.10,000.
January -15 Half payment is done for goods purchased on January 5.
January-18 Commission received Tk,8,000.
January-22 A bank account has been opened depositing Tk. 20,000.
January-28 Depreciation on furniture Tk. 8000.
Required:
(a) Determine the amount of opening capital.
(b) Make necessary journal entries for January 1,10,22,28.
(c) Show the effect of transactions for January 1,5,15,18 on accounting equation.
Answer: Cumilla Board-2023
a b c
a. Opening capital:-
Details Taka Taka
Opening Asset:
Cash 2,40,000
Office equipment 1,40,000
Furniture 60,000
4,40,000
Introduction to Accounting 1/4
(-) Opening liabilities
Not payable (2,00,000)
Opening capital 2,40,000
b.
Md. Anwar’s
Journal
Date Details L.P Debit Tk. Credit Tk.
2022
Jan-1 Cash A/C Dr. 2,40,000
Office equipment Dr. 1,40,000
Furniture Dr. 60,000
Note payable Cr. 2,00,000
Capital A/C Cr. 2,40,000
( opening business with, cash, office
equip. furniture)
Jan-10 Furniture A/C Dr. 10,000
Cash A/C Cr. 10,000
Jan-22 Bank A/C Dr. 20,000
Cash A/C Cr. 20,000
Jan-28 Depreciation A/C Dr. 8,000
Accumulated depreciation A/C Cr. 8,000
c.
Assets Liabilities Owner’s
Date equity
Cash Office Furniture = A/C Note Capital
2022 equipment payable payable
Jan-1 2,40,000 1,40,000 60,000 = 2,00,000 2,40,000
Jan-5 = 60,000 (60,000)
Jan-15 (30,000) = (30,000)
Jan-18 8,000 = 8,000
2,18,000 1,40,000 60,000 = 30,000 2,00,000 1,88,000
4,18,000 = 4,18,000
5. Mr. Saber-e-Rahman started a business on 1st June 2022 by investing cash Tk. 25,000, Furniture
Tk. 20,000 and inventory Tk. 7,000. During the month the following transaction were took place in
his business:
Jun-2 Purchased chair and table Tk. 20,000 for business.
Jun-4 Purchased merchandise for Tk. 7,000 from Zakir.
Jun-7 Sold merchandise to Rabbi for Tk. 22,000.
Jun-12 Tk. 15,000 were lend to Suma.
Jun-25 Received cash from Rabbi Tk. 2,000.
Jun-27 Collected Suma’s loan in cash Tk. 5,000.
Jun-30 Paid to employee Kamal Tk. 3,000 as salary.
Required:
(a) Determine the amount of initial capital.
(b) Determine what would be debit and credit of the transactions dated June 1,4, 12 and 30 as per
classification of modern system.
(c) Prepare a tabular summary of the above mentioned transactions to show the effect on
accounting equation.
Answer: Chottogram Board-2023
a b c
a. Determination of opening capital:
Date Details Debit Taka Credit Taka
2022
Jun-01 Cash 25,000
Furniture 20,000
Introduction to Accounting 1/5
Goods 7,000
52,000
b. Determination of modern calcification of Accounts:
Date Details Dr. /Cr. Tk. Clarification of
A/C
2022
Jan-1 Cash A/C Dr. 25,000 Asset
Furniture A/C Dr. 20,000 Asset
Purchase A/C Dr. 7,000 Expense
Capital A/C Cr. 52,000 Equity
Jan-4 Purchase A/C Dr. 7,000 Expense
Accounts payable Dr. 7,000 Liability
Jan-12 Suma’s debt A/C Dr. 15,000 Liabilities
Cash A/C Dr. 15,000 Asset
Jan-30 Salary A/C Dr. 3,000 Expense
Cash A/C Dr. 3,000 Asset
c. Effect of transaction on accounting equation:
Date Assets = Liabilities Owner’s
equity
2022 Cash Furniture A/C Debt A/C = A/C Capital
Relievable payable
Jun-1 25,000 20,000 = 52,000
(7,000)
Jun-2 (20,000) 20,000 =
Jun-4 = 7,000 (7,000)
Jun-7 22,000 = 22,000
Jun-12 (15,000) 15,000 =
Jun-25 2,000 (2,000) =
Jun-27 5,000 (5,000) =
Jun-30 (3,000) = (3,000)
(6,000) 40,000 20,000 10,000 = 7,000 57,000
64,000 = 64,000
6. Mr. Mannan started business at January 1, 2022 with cash Tk. 1,00,000. In that month the
following transactions has been made of his business:
2022
January 3 Goods purchased in cash Tk. 20,000
January 7 Credit purchase from Rahim Tk. 30,000.
January 10 Goods sales in credit Tk. 80,000.
January 14 Goods withdrawn Tk. 4,000 for the personal needs of the owner.
January 18 Purchased stationery Tk. 5,000.
January 30 Purchase furniture for official use Tk. 30,000 (80% in credit).
Required:
(a) Calculate the cash amount in furniture purchase.
(b) Calculate the owner's equity at the end of the month.
(c) Show the effect of the transaction 1, 3, 10 and 30 in the tabular form of accounting equation.
Answer: Sylhet Board-2023
a b c
a. Determination the cash amount of the Furniture purchase
= {30,000-(30,000×80%)} = 6,000 Tk.
b. Determination the amount of closing owners equity:
Date
2022
Jan-1 Capital 1,00,000
Jan-3 (-) Purchase 20,000
80,000
Introduction to Accounting 1/6
Jan-7 (-) Purchase 30,000
50,000
Jan-10 (+) Sales 80,000
1,30,000
Jan-14 (-) Drawing 4,000
1,26,000
Jan-14 (+) drawing (decrease in cost ) 4,000
1,30,000
Jan-18 (-) Supplies 5,000
Closing owner’s equity 1,25,000
c. Effect of transaction on accounting equation:
Date Assets Liabilities Owner’s
equity
2022 Cash A/C Relievable Furniture = A/C payable Capital
Jun-1 100,000 = 100,000

Jun-3 (20,000) = (20,000)

Jun-4 80,000 = 80,000
Jun-10 = 22,000
Jun-30 (6,000) 30,000 = 24,000
74,000 80,000 30,000 = 24,000 160,000
184,000 184,000
7. On July 1, 2022, Joshim started a business with Tk. 50,000 of cash, Tk. 30,000 of computer. Other
transactions were-
July 3 Goods purchased on cash Tk. 25,000.
July 7 Purchase of office equipment Tk. 15,000.
July 9 Goods sold on cash Tk. 50,000.
July 16 Goods purchased from Shahin Tk. 35,000
July 18 Goods sold to Fahim Tk. 45,000.
July 27 Tk. 30,000 paid to creditors.
July 28 Tk. 25,000 collected from debtors.
July 30 Salary of Tk. 10,500 paid to employees.
Required:
(a) Determine the amount of opening capital.
(b) Show the effect of transactions on accounting equation.
(c) Prepare a statement of comprehensive income for July.
Answer: Barishal Board-2023
a b c
a. Amount of opening capital
Date Details Tk. Tk.
2022
July-1 Cash 50,000
Office equipment 30,000
80,000
b. Effect of transaction of Accounting equation
Date Assets Liabilities Owner’s
equity
2022 Cash Office A/C = A/C payable Capital
equipment Relievable
July-1 50,000 30,000 = 80,000
July-3 (25,000) = (25,000)
July-7 (15,000) 15,000 =
July-9 50,000 = 50,000
July-16 = 35,000 35,000
Introduction to Accounting 1/7
July-18 45,000 = 45,000
July-27 (30,000) = (30,000)
July-28 25,000 (25,000) =
July-30 (10,500) = (10,500)
44,500 45,000 20,000 = 5,000 1,04,500
1,09,500 1,09,500

c.
Mr. Jasim’s
Income Statement
For the year ended on 31st july 2022
Details Tk. Tk.
Sales (50,000+45,000) 95,000
(-) cost of goods sold:
Purchase (25,000+35,000) 60,000
35,000
(-) Operating cost:
Salary 10,500
Net profit 24,500
st
8. Mr. Rasel started a business on 1 July, 2022 investing cash Tk. 1,20,000, furniture Tk. 10,000,
During the month transactions were as follows: 2022
July-2 Purchase furniture for cash Tk. 10,000.
July-4 Purchases goods from Rayhan Tk. 5,000.
July-5 Rented a house for office space of Tk. 30,000 per month.
July-6 Sold goods to Arif Tk. 6,000.
July-7 Appointed an accountant at a monthly salary of tk. 40,000.
July-10 Received a loan Tk. 12,000 from Jamal.
July-25 Tk. 2,000 will not be received from Aif.
July-28 Paid cash Tk. 4,000 to employee Rafiq for salary.
July-30 Made a cash payment of Tk. 5,000 for Jamal’s loan.
Required:
(a) Determine the amount of the events which are not transaction.
(b) Determine the accounts with classification of the transactions date 10, 25,28 and 30 in the
modern system.
(c) Show the effect on the accounting equation using a tabular form of the transactions dates 1,2,4
and 6.
Answer: Dinajpur Board-2023
a b c
a. Events that are not transaction:-
Date Details Tk. Tk.
July-5 Renting hoses for office 30,000
July-7 Recruiting of Accountant 40,000
70,000

b. Identifying Account Clarification in modern method from the following transaction:

Date Classes of Account Classification
2022
July-10 Cash A/C Expense
Jamal’s debt A/C Liabilities
July-25 Accumulation of bad debt A/C Expense
Accounts Receivable Asset
July-28 Salary A/C Expense
Cash A/C Asset
July-30 Jamal’s Debt A/C Liabilities
Cash A/C Asset
Introduction to Accounting 1/8
c. Effect of transaction on Accounting Equation: -
Date Assets Liabilities Owner’s
equity
2022 Cash Furniture A/C Relievable = A/C Capital
payable
July-1 1,20,000 10,000 = 1,30,000
July-2 (10,000) 10,000 =
July-4 = 5,000 (5,000)
July-6 6,000 = 6,000
1,10,000 20,000 6,000 = 1,31,000
Total 1,36,000 = 1,36,000

9. On January 1, 2022, Mr. Kabir started a business with Tk. 50,000 cash, Tk. 20,000 of furniture &
Tk. 30,000, of bank loan. Its other transactions were:
Jan 2 Goods purchased on credit Tk. 15,000.
Jan 5 Goods sold Tk. 24,000. 2/10 net /30
Jan 12 Goods purchased on credit on January 2 has been paid.
Jan 14 Goods sold on credit on January 5 has been collected.
Jan 20 Tk.20,000 of salary paid to employees.
Jan 25 Office Rent paid of Tk. 6000
Jan 30 Tk. 10,000 of furniture purchased on cash for office
Required:
(a) Determine the amount of total investment.
(b) Make necessary journal entries for January 2,5,14,30.
(c) Show the effects of the transaction on the accounting equation for January 1,2,5, 20 & 25.
Answer: Mymensing Board-2023
a b c
a. Determination of total investment:-
Date Details Tk. Tk.
Jan-1 Cash 50,000
Furniture 20,000
70,000
b.
Mr. Kabir’s
Journal
Date Details J.P Debit Tk. Credit Tk.
2022
Jan -2 Purchase A/C Dr. 15,000
Accounts payable A/C Cr. 15,000
Jan-5 Accounts Receivable Dr. 24,000
Sales A/C Cr. 24,000
Jan-14 Cash A/C Dr. 23,520
Discount A/C Dr. 480
Accounts Receivable A/C Cr. 24,000
Jan-30 Furniture A/C Dr. 10,000
Cash A/C Cr. 10,000
c. Effect of transaction on Accounting equation:-
Date Assets Liabilities Owner’s
equity
Cash Furniture Bank A/C = A/C Bank Capital
Receivable payable debt
Jan-1 50,000 20,000 30,000 = 30,000 70,000
Introduction to Accounting 1/9
Jan-2 = 15,000 (15,000)
Jan-5
24,000 24,000
Jan-20 (12,000) (12,000)

Jan-25 (6,000) = (6,000)

32,000 20,000 30,000 24,000 = 15,000 30,000 61,000

1,06,000 1,06,000

10. Sonali Trader’s starts business on 1st January, 2021 with Cash Tk. 1,50,000, Furniture Tk. 30,000
and Loan of Tk. 70,000 as capital. Other transactions are given below:
2021
January 5 Purchase of goods for Tk. 48,000.
January 12 Sale of goods on account Tk. 35,000.
January 19 Drawings Tk. 6,000
January 25 Rent paid for Tk. 15,000
January 30 Commission received Tk. 3,000
Required:
(a) Calculate opening capital of Sonali Trader’s.
(b) Determine debit-credit with explanation for the transaction dated January 1, 12, 19, and 30.
(c) Show the effects in the accounting equation for the transaction dated January 1,5,12, and 19.

Answer: Dhaka Board-2022-Set-1

a b c
a. Amount of opening capital:
Description Amount Amount
Opening Asset:
Cash (150,000+70,000) 220,000
Furniture 30,000
250,000
Less: Opening liabilities:
Loan 70,000
180,000
b. Determine debit credit of the transactions with reason:
Date: Accounts Dr./Cr. Reason

2021
Jan-1 Cash A/C Dr. Increase in Asset
Furniture A/C Dr. Increase in Asset
Loan A/C Cr. Increase in liabilities
Capital A/C Cr. Increase in OE
Jan-12 Accounts Receivable Dr. Increase in Asset
Sales A/C Cr. Increase in Income
Jan-19 Drawings A/C Dr. Decrease in OE
Cash A/C Cr. Decrease in Asset
Jan-30 Cash A/C Dr. Increase in Asset
Commission Received A/C Cr. Increase in Income
Introduction to Accounting 1/10
c. Show the effect of transactions on accounting equation:
Date Balance Asset Liabilities OE
Cash Furniture Accounts = Loan Capital
Receivable +
2021
Jan-1 Balance 2,20,000 30,000 = 70,000 + 1,80,000
Balance 2,20,000 30,000 = 70,000 1,80,000
Jan-5 (48,000) + (48,000)
Balance 1,72,000 30,000 35,000 = 70,000 1,32,000
Jan-12 + 35,000
Balance 1,72,000 30,000 35,000 70,000 1,67,000
Jan-19 (6,000) = + (6,000)
1,66,000 30,000 35,000 = 70,000 + 1,61,000
Total
231,000 231,000
11. The transactions have been occurred in the month of January 2021 of Rohan Traders is given below:
2021 Started business with bank balance Tk. 65,000, cash Tk. 70,000 and loan Tk.
January 1 40,000.
January 5 Goods purchase from Kabir on credit Tk. 25,000.
January 7 Goods sales to Monir Tk. 35,000.
January 9 Cash sales Tk. 30,000.
January 17 Cheque received from Kabir Tk. 10,000.
January 19 Goods distributed free of cost Tk. 4,000.
January 31 Interest allowed by bank Tk. 2,000.
Required:
(a) Determine the amount of net purchase of Rohan Traders.
(b) Show the head of accounts related with the transactions dated January 1, 17, 19 and 31.
(c) Show the effects on accounting equation of the above transaction in the tabular form.
Answer: Sylhet Board-2022-Set-1
a b c
a. Amount of net purchase:
Date Description Amount Amount
2021
Jan-5 Goods purchased on credit 25,000
Jan-19 (-) Free goods distribution 4000
21,000
b. Determination of the head of accounts of transactions:
Date Accounts
2021
Jan-1 Bank A/C
Cash A/C
Loan A/C
Capital A/C
Bank A/C
Jna-17
Accounts Receivable
Advertisement A/C
Jan-19
Purchase A/C
Bank A/C
Jan-31
Bank interest A/C
Introduction to Accounting 1/11
c. Show the effect of transaction on accounting equation:
Asset = Liabilities OE
Cash Bank Accounts loan Account + Capital
Date Balance
Receivable = s
payable
2020
Balance 110,000 65,000 = 40,000 + 1,35,000
Jan-1
Jan-5 Balance 1,10,000 65,000 40,000 25,000 1,35,000
= + (25,000)
Jan-7 Balance 1,10,00 65,000 40,000 25,000 1,10,000
= +
35,000 35,000
Jan-9 Balance 1,10,000 65,000 35,000 40,000 25,000 1,45,000
= +
30,000 30,000
Jan-17 Balance 14,000 65,000 35,000 40,000 25,000 1,75,000
= +
10,000 (10,000)
Jan-19 Balance 140,000 75,000 25,000 40,000 25,000 1,75,000
+
= (4000)
+
40,000
Jan-31 Balance 140,000 75,000 25,000 40,000 25,000 1,75,000
= +
2000 2000
Balance 140,000 77,000 25,000 = 40,000 25,000 + 1,77,000
2,42,000 = 2,42,000
12. Mr. Jahed Iqbal started business on 1-1-2021 with cash Tk. 30,000 and furniture Tk.20,000.
Transaction of his business for the month of January are as follows:
2021
January 2 Purchase on cash Tk. 10,000 and credit Tk. 15,000.
January 10 Paid carriage inward on purchase Tk. 700.
January 15 Purchase return Tk. 1,000.
January 20 Credit sales Tk. 22,000.
January 30 Salary paid Tk. 2,000.
Required:
(a) Calculate the amount of net purchase.
(b) Give journal entries for the transactions of January 2, 10, 20 and 30.
(c) Show the effects on accounting equation of transactions in tabular form.
Answer: Rajshahi Board-2022-Set-1
a b c
a. Amount of net purchase:
Date Description Amount Amount
2021
Jan-2 Purchase (10,000+15,000) 25,000
Jan-15 (-) Return 1000
24,000
b.
Mr. Jahed lqbal
Journal Entries
Date Description L.P Dr. Cr.
.
2021
Jan-1 Purchase A/C Dr. 25,000
Cash A/C Cr. 10,000
Account payable Cr. 15,000
(Goods purchased on cash and on credit)
Jan-10 Carriage inward A/C Dr. 700
Cash A/C Cr. 700
Introduction to Accounting 1/12
(Carriage inward paid in cash)
Jan-20 Account Receivable Dr. 22,000
Sales A/C Cr. 22,000
(Goods sold on credit)
Jan-30 Salaries A/C Dr. 2000
Cash A/C Cr. 2000
(Salaries paid on cash)
c. Show the effect of transaction on accounting equation:
Date Balance Asset = Liabilities OE
Cash Accounts Furniture Accounts + Capital
Receivable = payable

2021 = +
Balance 30,000 20,000 50,000
Jan-1 Balance 30,000 20,000 = 50,000
(10,000) 15,000 (25,000)
Jan-2 Balance 20,000 20,000 = 15,000 + 25,000
(700) (700)
Jan-10 Balance 19,300 20,000 = 15,000 + 24,300
(1000) 1000
Jan-15
Balance 19,300 20,000 = 14,000 + 25,300
Jan-20 22,000 22,000
Balance 19,300 22,000 20,000 = 14,000 + 47,300
Jan-30 (2000) (2000)
Balance 17,300 22,000 20,000 14,000 + 45,300
59,300 = 59,300

13. Mr. Kamal starts business on 1st January 2021, with a cash of Tk. 50,000, merchandise of Tk. 20,000
and a loan of Tk. 30,000. Other transactions of his business of that month were as follows:
January 5 Goods sold to Tamim Tk. 40,000 in cash.
January 8 Purchase furniture in cash Tk. 10,000.
January 12 Purchase goods Tk. 34,500 in cash including VAT.
January 15 Returns outward Tk. 7,000.
January 20 Commission received Tk. 5,000.
January 23 Goods purchase from Rubel Tk. 15,000.
January 27 Rent paid Tk. 12,000.
January 30 Paid Tk. 11,500 to Rubel in full settlement.
Required:
(a) Determine the amount of beginning capital of Mr. Kamal with workings.
(b) Give journal entry for the transactions dated 12, 15, 20 and 30. (Explanation is not necessary)
(c) Show the effect on accounting equation in the tabular format with the help of transaction dated
5,8,23 and 27.
Answer: Jessore Board-2022-Set-1
a b c
a. Amount of opening capital,
Description Amount Amount
Opening Asset:
Cash (50,000+30,000) 80,000
Goods purchased 20,000
1,00,000
Less: opening liabilities:
Loan 30,000
70,000
Introduction to Accounting 1/13
b.
Mr. Kamal
Journal Entries
Date Description L.P Dr. Cr.

2021 Purchase A/C Dr. 30,000

Jan-12 VAT current A/C Dr. 45000
Cash A/C Cr. 34,500
Accounts payable Dr. 7000
Purchase Return A/C Cr. 7000
Jan-15 Cash A/C Dr. 5000
Commission Received A/C Cr. 5000
Jan-20 Accounts payable Dr. 15,000
Cash A/C Cr. 11,500
Jan-30 Discount Received A/C Cr. 3500
c. The effect of transaction on accounting equation is shown below:
Date Balance Asset Liabilities + OE
Cash Furnitur = Accounts + Capital
e payable
2021
Jan-5 Balance 40,000 = + 40,000
Balance 40,000 = 40,000
Jan-8 (10,000) 10,000
Balance 30,000 10,000 = + 40,000
Jan-23 15,000 (15,000)
Balance 30,000 10,000 = 15,000 + 25,000
Jan-27 (12,000) (12,000)
Balance 18,000 10,000 = 15,000 + 13,000
Jan-27
28,000 = 28,000
14. Mr. Khokan started a business named “Mobile Servicing Centre” on 01 January, 2021 by investing
Tk. 40,000 as cash and Tk. 10,000 as loose tools. During the month, the following transactions has
been occurred of the firm:
January 2 Shop rent paid for cash Tk. 4,000 for the month of January.
January 10 Mr. Khokan purchased a machine of Tk. 50,000, for which Tk. 20,000 paid in
cash and signed a notes payable for the rest amount.
January 15 Paid for cash Tk. 2,400 as insurance premium for one year coverage.
January 18 Advertising bill received for Tk. 2,000 not yet paid
January 31 Receipt cash Tk. 24,000 for mobile service rendered.
Required:
(a) Determine the beginning amount of assets of the firm.
(b) Show the classification of accounts according to modern system for the transactions of dated
January, 2, 10, 15 and 18.
(c) Show the effect of transactions on basic accounting equation using tabular method for the
transaction of dated January 1,2,10 and 31.
Answer: Dinajpur Board-2022-Set-1
a b c
a. Amount of opening asset
Description Amount Amount
Cash 40,000
Loose tools 10,000
50,000
b. Classification of accounts using modern method:
Date Accounts Classification
2021 Rent A/C Expense
Introduction to Accounting 1/14
Jan-2 Cash A/C Asset

Jan-10 Machine A/C Asset

Cash A/C Asset
Notes payable Liabilities
Jan-15 Prepaid insurance A/C Asset
Cash A/C Asset
Jan-18 Advertisement A/C Expense
Accounts payable Liabilities
c. Show the effect of transaction on accounting equation:
Asset = Liabilities + OE
Date Balance Notes
Cash Loose tools Machine = + Capital
payable
2021 Balance 40,000 10,000 = + 50,000
Jan-1
Jan-2 Balance 40.000 10,000 = 50,000
(4000) (4,000)
Jan-10 Balance 36,000 10,000 = + 46,000
(20,000) 50,000 30,000
Jan-31 Balance 16,000 10,000 50,000 = 30,000 + 46,000
24,000 24,000
Balance 40,000 10,000 50,000 = 30,000 + 70,000
Balance 1,00,000 = 1,00,000
15. On June 30, 2021, Shatabdi traders has the following balances: cash Tk. 40,000, office equipment
Tk. 50,000, Accounts Receivable Tk. 30,000, and Account payable Tk. 20,000. His other transactions
for July were:
July -2 Owner invested Tk. 50,000 of cash and Tk. 25,000 of office equipment.
July-5 Goods purchased Tk. 50,000 (60% on cash, 40% on credit)
July-10 Salary payment Tk. 20,000
July-15 Goods purchased on credit on July 5, has been paid.
July -20 Goods sold Tk. 100,000 ( 80% on cash, 20% on credit)
July-30 Rent paid Tk. 25,000.
Required
(a) Make opening entries for Shatabdi traders.
(b) Make necessary journal entries for July 2,5,15 & 30
(c) Show the effects of transactions of accounting equation using tabular format.
Answer
Answer: Cumilla Board-2022-Set-1
a b c
a.
Shatabdi Traders
Opening journal Entries
Date Description L.P Dr. Cr.
2021
July-1 Cash A/C Dr. 40,000
Office equipment A/C Dr. 50,000
Accounts Receivable Dr. 30,000
Accounts Payable Cr. 20,000
Capital A/C Cr. 100,000
(Opening journal of asset and liabilities is
recorded)
Introduction to Accounting 1/15
b.
Shatabdi Traders
Journal Entries
Date Description L.P Dr. Cr.
2021
July-2 Cash A/C Dr. 50,000
Office equipment A/C Dr. 25,000
Capital A/C Cr. 75,000
(Cash & office equipment is invested in business)
Purchase A/C Dr. 50,000
Cash A/C Cr. 30,000
July-5 Accounts payable Cr. 20,000
(Goods purchased on cash & credit)
Accounts payable Dr. 20,000
Cash A/C Cr. 20,000
July-15 (Payment of purchase has been made)
Rent A/C Dr. 25,000
Cash A/C Cr. 25,000
(Rent paid in cash)
July-30
c. Show the effect of transaction on accounting equation:
Date Balance Asset Liabilities OE
Cash Office Accounts Accounts + Capital
equipmen Receivabl = payabl
t e e
2021
July-1 Balance 40,000 50,000 30,000 = 20,000 + 100,000
Balance 40,000 50,000 30,000 = 20,000 + 100,000
July-2 50,000 25,000 75,000
Balance 90,000 75,000 30,000 = 20,000 + 175,000
July-5 (30,000) 20,000 (50,000)
Balance 60,000 75,000 30,000 = 40,000 + 125,000
July-10 (20,000) (20,000)

July-15 Balance 40,000 75,000 30,000 = 40,000 + 105,000

(20,000) (20,000)
July-20 Balance 20,000 75,000 30,000 = 20,000 + 105,000
80,000 20,000 100,000
July-30 Balance 1,00,000 75,000 50,000 = 20,000 + 205,000
(25,000) (25,000)
Balance 75,000 75,000 50,000 = 20,000 + 180,000
200,000 200,000
16. On March 1, 2022, Miss Onona started business with Tk. 70,000, Tk. 30,000 of equipments and Tk.
40,000 of loan from Rima. Other transactions are following:
March 2 Goods purchased on cash Tk. 69,000 with 15% VAT.
March 7 Goods sold on cash to Rajib Tk. 70,000.
March 10 Purchase Return Tk. 6000.
March 18 Laptop purchased on cash Tk. 30,000.
March 20 Goods sold to Arif Tk. 20,000.
March 26 Rent paid Tk. 10,000.
March 31 Tk. 19,000 received from Arif with full settlement.
Required:
(a) Determine the amount of opening capital.
(b) Make necessary journal entries of March 2, 10, 20 & 31. (without explanation)
(c) Prepare a table showing the effects of accounting equation of March 1, 7, 18 & 26.
Introduction to Accounting 1/16
Answer: Barishal Board-2022-Set-1
a b c
a. Amount of opening capital:
Description Amount Amount
Opening Asset:
Cash (70,000+40,000) 1,10,000
Equipment 30,000
1,40,000
Less: opening liabilities:
Loan (40,000)
100,000
b.
Ms ohona
Journal Entries
Date Description L.P Dr. Cr.
2022
Purchase A/C Dr 60,000
Mar-2 VAT current A/C Dr. 9,000
Cash A/C Cr. 69,000
6000
Mar-10 Accounts Payable Dr. 6000
Purchase return A/C Cr. 20,000
Mar-20 Accounts Receivable A/C Dr. 20,000
Sales A/C Cr. 19,000
Mar-31 Cash A/C Dr. 1000
Discount Allowed A/C Dr. 20,000
Accounts Receivable Cr.
c. Show the effect of transaction on accounting equation:
Date Balance Asset Liabilities + OE

Cash Equipment Office = Loan +

equipmen
t
2022 = +
Mar-2 Balance 1,10,000 30,000 = 40,000 1,00,000
Balance 1,10,000 30,000 = 40,000 + 1,00,000
Mar-7 70,000 70,000
Balance 1,80,000 30,000 = 40,000 + 1,70,000
Mar-18 (30,000) 30,000
Mar-26 Balance 1,50,000 30,000 30,000 = 40,000 + 1,70,000
(10,000) (10,000)
Balance 1,40,000 30,000 30,000 = 40,000 + 1,60,00
2,00,000 2,00,000
17. On January 1, 2020, Mr. Hasib started business with Tk. 50,000 of cash, Tk. 70,000 of equipment
and Tk. 30,000 of furniture. Other transactions were:
Jan-3 Goods purchased on cash Tk. 20,000
Jan-6 A current A/C has been opened in Sonali bank depositing Tk. 5,000.
Jan-8 Goods sold to Tanjila of Tk. 50,000. 50% received in cash and 50% received in
cheque
Jan-14 Life Insurance premium paid of Tk. 2000.
Jan-18 Cheque deposited to bank which was received from Tanjila
Jan-23 Tk. 2000 withdrawn from bank
Jan-31 Bank allowed interest Tk. 1500.
Required:
(a) Determine opening capital.
Introduction to Accounting 1/17
(b) Determine debit credit of the transactions of January 1, 8, 14 & 18
(c) Show the effects on accounting equation of the transactions for January 1, 6, 8, 22 & 31.
Answer: Mymensing Board-2022-Set-1
a b C

a. Amount of opening capital:

Description Amount Amount
Cash 50,000
Equipment 70,000
Furniture 30,000
150,000
b. Determination of debit credit of transactions:
Date Accounts Dr./Cr. Amount
2021
Cash A/c Dr. 50,000
Jan-1
Equipment A/C Dr. 70,000
Furniture A/C Dr. 30,000
Capital A/C Cr. 150,000
Jan-8 Cash A/C Dr. 50,000
Sales A/C Cr. 50,000
Drawings A/C Dr. 2,000
Jan-14 Cash A/C Cr. 2,000
Bank A/C Dr. 25,000
Jan-18
Cash A/C Cr. 25,000
c. Show the effect of transaction on accounting equation:
Date Balance Asset Liabilities OE

Cash Equipment Furniture Bank = Liabilities +

2020
Jan-1 Balance 50,000 70,000 30,000 = + 150,000
Jan-6 Balance 50.000 70,000 30,000 = 150,000
(5000) 5000
Jan-8 Balance 45,000 70,000 30,000 5000 = + 150,000
50,000 50,000
Jan-23
Balance 95,000 70,000 30,000 5000 = + 200,000
Jan-31 2,000 (2000)
Balance 97,000 70,000 30,000 3000 = + 200,000
1500 1500
Balance 97,000 70,000 30,000 4500 = 201,500
201,500 = 201,500
Note: on January, Cash A/C has beeen debited after bearer cheque received. On January 18, Bank
A/C has been debited & Cash A/C has been credited after cheque deposited.
18. In the month of January 2020, in the business of Mr. Habib the following transactions were
completed:
January 1 Mr. Habib started business with cash Tk. 50,000 furniture Tk. 30,000 and bank
loan Tk. 20,000.
January 8 Service provided to a client Tk. 25,000 and received Tk. 15,000 in cash.
January 15 Purchased supplies for cash Tk. 5,000
January 25 Bank loan has been repaid Tk. 10,000
January 30 Supplies used Tk. 2,000
Required:
(a) Determine the amount of opening capital.
Introduction to Accounting 1/18
(b) Give journal entries dated on January 8, 15, 25 and 30 transactions.
(c) Show the effect of the transactions in accounting equation under tabular form dated on January
1, 8, 15 and 25.
Answer: Dhaka Board-2021-Set-1
a b C
a. Determination of amount of opening capital:
Date Description Amount Amount
2020 Opening Assets:
Jan-1 Cash 50,000
Equipment 30,000
Bank 20,000
1,00,000
Less: opening-liabilities
Bank loan (20,000)

80,000
b.
Journal Entries of Mr. Habib
Date Description L.P Debit Credit
2020 Cash A/C Dr. 15,000
Jan-8 Accounts Receivable A/C Dr. 10,000
Service revenue A/C Cr. 25,000
(Service provided on cash and on credit)
5,000
Jan-15 5,000
Supplies A/C Dr.
Cash A/C Cr.
Jan-25 (Supplies purchased on cash) 10,000
Bank loan A/C Dr. 10,000
Bank A/C Cr. 2,000
Jan-30 (Bank loan paid) 2,000
Supplies Expense A/C Dr.
Supplies A/C Cr.
(Supplies used has been recorded)
Introduction to Accounting 1/19
c. Effect of transactions on accounting equation is presented below:
Assets Liabilities +OE
Date Cash Equipment Bank Accounts Receivable Supplies = Bank loan Capital Comment
2020 =
Jan-1 50,000 30,0000 20,000 = 20,000 80,0000
=
Jan-8 15,000 10,000 = 25,000
=
Jan-15 (5,000) 5,000 =
Jan-25 (10,000) = (10,000)
Balance 60,000 30,000 10,000 10,000 5,000 10,000 1,05,000
1,15,000 1,15,000
Introduction to Accounting 1/20
19. On 1 January, 2020 Mr. Masud started business introducing cash Tk. 1,00,000 and furniture valued
Tk. 70,000, during the month of January following transactions took place in his business:
2020
January 3 Cash sales were Tk. 30,000.
January 5 Purchased of goods from Mr. Rahim Tk. 1,500.
January 10 Deposited into bank Tk. 12,000.
January 12 Purchased of furniture Tk. 17,000
January 19 Paid for advertisement Tk. 5,000.
January 28 Sale old furniture Tk. 1,000.
January 31 Withdrawn from bank Tk. 25,000.
Required:
(a) Determine the amount of beginning capital.
(b) Journalized the transactions of January 3,10,19, & 28 [Explanation is not needed]
(c) Show the effects of the transactions on accounting equation in dated January 1,5,12 and 31.
Answer: Chottogram Board-2021-Set-1
a b C
a. Determine the amount of opening capital:
Date Description Amount Amount
2020
Jan-1 Cash 1,00,000
Furniture 70,000
1,70,000
b.
Journal Entries of Mr. Masud
Date Description L.P Debit Credit
2020
Jan-3 Cash A/C Dr. 30,000
Sales A/C Cr. 30,000
Jan-10 Bank A/C Dr. 12,000
Cash A/C Cr. 12,000
Jan-19 Advertisement A/C Dr. 5,000
Cash A/C Cr. 5,000
Jan-28 Cash A/C Dr. 1,000
Furniture A/C Cr. 1,000
c. Effect of transactions on accounting equation is presented below:
Date Assets = Liabilities +OE
Cash Furniture Bank Accounts Capital Comment
2020 payable
Jan-1 100,000 70,000
= 170,000
Jan-5
1500 (1500)
Jan-12 (17,000) 17,000
Jan-31 25,000 (25,000)

Balance 108,000 87,000 (25,000)

1500 1,68,500
170,000 170,000

20. Eastern Repair Shop had the following transactions during March, 2021
March 1 Invested Tk. 72,000 cash and Tk. 25,000 of equipment in the business
March 7 Purchased supplies on account for Tk. 2,000.
March 12 Performed services for clients for which Tk. 17,000 was collected in cash and
Tk. 6,000 was billed to the clients.
March 20 Received utility bills in the amount of Tk. 1,400 to be paid next month.
March 25 Paid Tk. 12,000 in advance for 2 years insurance coverage.
March 28 Paid Tk. 4,000 to landlord for March rent.
Introduction to Accounting 1/21
March 30 Received 40% of balance due from customers.
March 31 Owner's drawings during March were Tk. 5,000.
Required:
(a) Compute the amount of net accounts receivable at the end of the month.
(b) Show the effects of the transactions dated March 1, 7, 25 and 31 on the accounting equation in
tabular form.
(c) Prepare the journal entries on March 12, 20, 28 and 30 transactions.
Answer: Dinajpur Board-2021-Set-1
a b C
a. Determine the amount of net accounts receivable:
Date Description Amount Amount
2021
March-12 Service Revenue Receivable 6000
March-30 (-) Service Revenue Received 2400

Net accounts Receivable 3600

Introduction to Accounting 1/22
b. Effect of transactions on accounting equation is presented below:
Date Assets Liabilities +OE
Cash Office Equipment Supplies Prepaid insurance = Supplies payable Capital Comment
2021 =
March-1 72,000 25,000 = 97,000
=
March-7 2,000 2,000
March-25 (12,000) 12,000
March-31 (5,000) (5,000)
Balance 55,000 25,000 2,000 12,000 2,000 92,000
Total 94,000 94,000
Introduction to Accounting 1/23
c. Journal Entries of Eastern Repairing Shop
Date Description L.P. Dr. Cr.
2021
March-12 Cash A/C Dr. 17,000
Accounts Receivable Dr. 6,000
Service Revenue A/C Cr. 23,000
(Service provided by cash and bill)
1400
March-20 Utility bills A/C Dr. 1400
Utility bills payable A/C Cr.
(Utility bills is outstanding) 4000
March-28 Rent A/C Dr. 4000
Cash A/C Cr.
(Rent paid on cash)
2400
March-30 Cash A/C Dr. 2400
Accounts receivable Cr.
(Cash received from customers)
21. Mr. Bashir opened a business with Tk. 40,000 of cash Tk. 30,000 of furniture and a bank loan of Tk.
20,000 as on 1st January 2020. The following transactions occurred during the month are given
below:
January 2 Purchased goods on credit Tk. 50,000.
January 5 Goods sold by cash Tk. 80,000.
January 7 Paid shop rent Tk. 10,000.
January 10 Goods sold on credit Tk. 30,000.
January 12 Furniture purchased by cash Tk. 5,000.
January 31 Paid employees salary Tk. 15,000.
(a) Determine opening capital of Mr. Bashir as on 1st January from the above transactions.
(b) Give the journal of January 2,7,10 and 12.
(c) Show the effects of accounting equation of January 1,2,10, and 31 transactions.
Answer: Sylhet Board-2021-Set-1
a b C
a. Determine the amount of opening capital:
Dated Description Amount Amount
2020 Opening Assets:
Jan-1 Cash 40,000
Bank 20,000
Furniture 30,000
Less: Opening Liabilities 90,000
Bank Loan (20,000)
Opening capital 70,000

b.
Journal Entries of Mr. Bashir
Date Description L.P. Debit Credit
2020
Jan-2 Purchase A/C Dr. 50,000
Accounts payable Cr. 50,000
(Goods purchased on credit)
Jan-7 Rent expense A/C Dr. 10,000
Cash A/C Cr. 10,000
(Rent paid on cash)
Jan-10 Accounts receivable Dr. 30,000
Sales A/C Cr. 30,000
(Goods sold on credit)
Introduction to Accounting 1/24
Jan-12 Furniture A/C Dr. 5,000
Cash A/C Cr. 5,000
(Furniture purchased on cash)
Introduction to Accounting 1/25
c. Effect of transaction on accounting equation is presented below:
Date Asset = Liabilities +OE
Cash Furniture Bank Accounts Receivable Accounts payable Bank loan Capital
2020
Jan-1 40,000 30,000 20,000 20,000 70,000
Jan -2 50,000 (50,000)
Jan-10 30,000 30,000
Jan-31 (15,000) (15,000)
Balance 25,000 30,000 20,000 30,000 50,000 20,000 35,000
Total 105,000 105,000
Introduction to Accounting 1/26
st
22. Mr. Dulal is a Civil engineer. 1 January 2020 he started service farm with cash Tk. 1,50,000,
Furniture Tk. 20,000, and loan Tk. 10,000 During the month following transaction occurred:
January 2 Service provided on credit Tk. 25,000.
January 5 Supplies purchase on credit Tk. 2,000
January 16 Rent paid Tk. 5,000
January 31 Loan paid Tk. 5,000.
Required:
(a) Determine the opening capital.
(b) Give journal entries on above transaction.
(c) Show summary of transactions on accounting equation preparing tabular analysis.
Answer: Jessore Board-2021-Set-1
a b C
a. Determine the amount of opening capital:
Date Description Amount Amount
2020 Opening Assets:
Jan-1 Cash (150,000+10,000) 1,60,000
Furniture 20,000
1,80,000
Less: Opening liabilities
Loan (10,000)
Opening capital 1,70,000

b.
Mr. Dulal
Journal Entries
Date Description L.P. Debit Credit
2020
Jan-1 Cash A/C (150,000+10,000) Dr. 160,000
Furniture A/C Dr. 20,000
Loan A/C Cr. 10,000
Capital A/C Cr. 1,70,000
(Business started with cash furniture and loan)
25,000
Jan-2 Accounts Receivable Dr. 25,000
Service Revenue A/C Cr.
(Service provided on credit) 2,000
Jan-5 Supplies A/C Dr. 2,000
Supplies payable A/ C Cr.
(Supplies purchased on credit) 5,000
Jan- Rent A/C Dr. 5,000
16 Cash A/C Cr.
(Rent paid on cash) 5,000
Jan- Loan A/C Dr. 5,000
31 Cash A/C Cr.
Introduction to Accounting 1/27
c. Effect of transactions on accounting equation is presented:
Date Assets Liabilities +OE
2020 Cash Furniture Accounts receivable Supplies = Supplies Loan Capital
payable
Jan-1 1,60,000 20,000 = 10,000 1,70,000
Jan-2 25,000 = 25,000
Jan-5 2,000 = 2,000
Jan-16 (5000) = (5000)
Jan-31 (5000) = (5,000)
Total 1,50,000 20,000 25,000 2,000 = 2,000 5,000 1,90,000
197,000 197,000
Introduction to Accounting 1/28
23. Mr. Milton Started his business with cash Tk. 1,50,000 and office equipment Tk. 40,000. On 1st
January, 2021. His other transactions for the month are as follows:
January 3 Rent paid for 4 months Tk. 8,000.
January 5 Service provided for cash Tk. 25,000 and on credit Tk. 15,000.
January 7 Purchased office supplies on credit Tk. 4,000.
January 8 A manager appointed by monthly salary of Tk. 20,000.
January 10 Paid insurance premium Tk. 2,000.
January 15 Paid the amount due on January 7.
January 20 Paid advertisement expense Tk. 5,000.
January 31 Depreciation on office equipment Tk. 500.
Required:
(a) Identify the transactions which are non-cash in nature.
(b) Show the effect on accounting equation of the transactions of 1,5,7 and 15.
(c) Give journal on January 3,7,15 and 31, (Explanation is not required).
Answer: Dinjpur Board-2012
a b c
a. Determine the amount of non-cash transaction:
Date Description Amount
2021
Jan-31 Despreciation on office equipment 500
Introduction to Accounting 1/29
b. Effect of transaction on accounting equation is presented below:
Date Assets Liabilities + OE Comment
Cash Office Equipment Accounts Receivable Offices Supplies = Accounts Payable Capital
2021
Jan-1 1,50,000 40,000 = 90,000

Jan-5 25,000 15,000 = 40,000

Jan-7 4,000 = 4,000
Jan-15 (4,000) = (4,000)
Balance 1,71,000 40,000 15,000 4,000 = 2,30,000
2,30,000 2,30,000
Introduction to Accounting 1/30
c.
Journal Entries of MP. Milton
Date Description L.P Debit Credit

2021 Prepaid Rent A/C Dr. 8,000

Jan-1 Cash A/C Cr. 8,000
Office Supplies A/C Dr. 4,000
Jan-7 Accounts Payable Cr. 4,000
Accounts Payable Dr. 4,000
Jan-15 Cash A/C Cr. 4,000

Jan-31 Depreciation A/C Dr. 500

Accumulated Depreciation – Office Equipment Cr. 500
24. Mr. Ajraf started a business on June 1, 2020. With Tk. 40,000 of cash, Tk. 30,000 of bank deposit.
His others transactions were:
June 4 Tk. 25,000 of goods sold on cash to Babul
June 7 Office equipment’s of Tk. 10,000 purchased on cash
June 10 Goods purchased on cash of Tk. 30,000
June 14 Purchased return of Tk. 6000
June 18 Commission received of Tk. 5000
June 28 Goods purchased of Tk. 12,000 from Sumi.
June 29 Rent paid on cash Tk. 10,000
June 30 Tk. 10,500 is paid to Sumi with full settlement
Required:
(a) Determine the amount of beginning capital of Mr. Ajraf.
(b) Give journal entries for June 10,14,18 & 30
(c) Show the effect of transaction on accounting equation dated 4,7,28 & 29.
Answer: Barisal Board-2021
a b c
a. Determine the amount of opening capital:
Date Description Amount Amount
2020
June-1 Cash 40,000
Purchase 12,000
Bank deposit 30,000
82,000

b.
Journal Entries of Mr. Ajrof
Date L.P. Debit Credit
2020
June-10 Purchase A/C Dr. 30,000
Cash A/C Cr. 30,000
June-14 Cash A/C Dr. 6000
Purchase Return A/C Cr. 6,000
June-18 Cash A/C Dr. 5,000
Commission received A/C Cr. 5,000
Accounts payable Dr. 12,000
June30 Cash A/C Cr. 10,500
Discount Received A/C Cr. 1,500
Introduction to Accounting 1/31
c. Effect of transactions on accounting equation is presented below:
Date Cash Office Equipment’s = Accounts payable Capital Commen
t
2020
June-4 25,000 25,000
June-7 (10,000) 10,000
June-28 12,000 (12,000)
June-29 (10,000) (10,000)
Balance =
5000 10,000 12,000 3,000
15,000 15,000
25. Mr. Monirul is a owner of a shop. His balances on May 1, 2020 were:
Cash Tk. 40,000, Accounts Receivable Tk. 70,000, inventory Tk. 60,000, Accounts payable Tk.
30,000. Other transactions were:
May 3 Goods purchased on cash of Tk. 30,000, on credit of Tk. 25,000
May 13 Goods gold on cash of Tk. 30,000, on credit of Tk. 20,000
May 20 A salesman is appointed with monthly salary of Tk. 10,000
May 31 Rent paid of Tk. 5000.
Required:
(a) Determine the amount of capital on May 1, 2020.
(b) Show the effect of transactions on accounting equation.
(c) Make necessary journal entries.
Answer: Cumill Board-2021
a b c
a. Determine the amount of opening capital:
Date Description Amount Amount
2020 Opening Asset:
May-1 Cash 40,000
Accounts receivable 70,000
Inventory 60,000
1,70,000
Less: opening liabilities
Accounts payable (30,000)
Opening capital
1,40,000
Introduction to Accounting 1/32
b. Effect of transactions on accounts equation is presented below:
Date Assets = Liabilities +OE
Cash Accounts Receivable = Accounts payable Capital
May-1 40,000 70,000 30,000 140,000
May-3 (30,000) = 25,000 (60,000)
May-13 30,000 20,000 = (55,000)
May-31 (5,000 = 50,000
= (5,000)
Balance 35,000 90,000 55,000 70,000
125,000 125,000
Introduction to Accounting 1/33
c.
Journal Entries of Mr. Monirul
Date Description L.P. Dr. Cr.
2020
Purchase A/C Dr. 55,000
May-3 Cash A/C Cr. 30,000
Accounts payable Cr. 25,000
(Goods purchased on cash and credit)
30,000
Cash A/C Dr. 20,000
Day-13 Accounts Receivable Dr. 50,000
Sales A/C Cr.
(Goods sold on cash and credit) 5000
Rent Expense A/C Dr. 5000
Day-31 Cash A/C Cr.
(Rent paid on cash)
26. On January 1, 2020, Rahim Brother’s started a business with Tk. 50,000 of cash, Tk. 30,000 of
furniture and Tk. 20,000 of bank deposit. Following transactions have occurred during the month:
2020
January 2 Goods purchased of Tk. 15,000 on credit from Rabbi
January 8 Goods sold of Tk. 20,000
January 13 Salary paid Tk. 5000
January 20 Bank allowed charge Tk. 300
Required:
(a) Determine the total amount of opening capital.
(b) Make necessary journal entries for January 2,8,10 & 20.
(c) Show the effect on accounting equation in tabular format for January 1, 2, 8 & 10.
Answer: Mymensing Board-2021
a b c
a. Determine the amount of opening capital:
Date Description Amount Amount
2020
Jan-1 Cash 50,000
Furniture 30,000
Bank deposit 20,000
Opening capital 100,000

b.
Journal Entries of Rahim Brothers
Date Description L.P. Debit Credit
2020
Jan-2 Purchase A/C Dr. 15,000
Accounts payable Cr. 15,000
(Goods purchased on credit)
Jan-8 Cash A/C Dr. 20,000
Sales A/C Cr. 20,000
(Goods sold on cash)
Jan-10 Salaries A/C Dr. 5,000
Cash A/C Cr. 5,000
(Salaries paid on cash)
Jan-20 Bank charge A/C Dr. 300
Bank A/C Cr. 300
(Bank charge has been recorded)
Introduction to Accounting 1/34
c. Effect of Transaction of accounting equation is presented below:
Date Assets Liabilities +OE
Cash Furniture Bank Accounts Capital Comment
payable
2020 =
Jan-1 50,000 30,000 20,000 = 1,00,000
Jan-2 = 15,000 (15,000)
Jan-8 20000 = 20,000
Jan-10 (5,000) (5,000)
Balance 65,000 30,000 20,000 15,000 1,00,000

115,000 115,000

27. Mr. Riad started a business on 01 July 2018 by cash Tk. 1,00,000, Furniture Tk. 50,000. The
following transactions are as follows of the month:-
2015
July – 1 : Purchased from Samia Tk. 40,000 of which 50% by cheque.
“–5 : Sold to Tanha Tk. 60,000 of which 40% by cash.
“ – 10 : Purchase furniture for sales Tk. 10,000.
“ – 15 : Paid to tuition fee of sons college Tk. 2,000.
“ – 20 : Bad debts written off Tk. 1,000.
“ – 31 : Bank charges Tk. 300 and bank interest Tk. 500.
Required:
a) Determine total purchases.
b) Journal entries for July 1, 2, 5 and 10.
c) Show the effect of transaction on accounting equation dated July 1,15, 20 and 31.
Answer: Dhaka Board-2019
a b c
a. Determination of total purchases:-
Particulars Tk. Tk.
1) Purchased from Samia 40,000
2) Purchased furniture for sales 10,000
Total purchase 50,000
b.
Mr. Riad
Journal
Date Particulars LF Debit (Tk.) Credit (Tk.)
2018
July-1 Cash account Dr. 1,00,000
Furniture account Dr. 50,000
Capital account Cr. 1,50,000
[ To record owners contribution to start
business]
July-2 Purchase account Dr. 40,000
Bank account Cr. 20,000
Account payable (Samia) Cr. 20,000
[To record purchase of goods from Samia]
July-5 Accounts receivable (Tanha) Dr. 36,000
Cash account Dr. 24,000
Sales account Cr. 60,000
[ To record sell of good to Tanha]
July-10 Purchase account Dr. 10,000
Sales account Cr. 10,000
[To record purchase of furniture on selling
purpose]
Introduction to Accounting 1/35
c.
Effects of transactions on accounting equation
For the month of July, 2018
Date Assets = Liabilities Owner’s equity Comments
Cash Furniture Accounts Bank = Accounts Capital Income Expense
receivable payable
2018
July-1 1,00,000 50,000 = 1,50,000 Opening capital
1,00,000 50,000 = 1,50,000
July-1 (20,000) = 20,000 (40,000) Purchase
80,000 50,000 = 20,000 1,50,000 (40,000)
July-15 (2,000) = (2,000) Drawing
78,000 50,000 = 20,000 1,50,000 (42,000)
July-20 (1,000) = (1,000) Bad debt
78,000 50,000 (1,000) = 20,000 1,50,000 (43,000)
July-31 500 = 500 Interest income
(300) = (300) Bank charge
78,000 50,000 (1,000) 200 = 20,000 1,50,000 500 (43,300)
1,27,200 1,27,200
Introduction to Accounting 1/36
28. The ledger balance of Salim Traders as on 31 December 2017 were: Cash Tk.1,00,000, Office
equipment Tk. 1,50,000, Accounts receivable Tk. 50,000 and Accounts payable Tk. 40,000. The
transactions of his business for the month of January, 2018 were as follows:--
2018
January– 5 : Loan taken from bank Tk. 50,000 by issuing 10% notes payable.
“–8 : Goods purchases in cash Tk. 30,000 and on account Tk.90,000.
“ – 10 : Rent paid in advance for 3 months Tk. 15,000.
“ – 12 : Paid sundry expense Tk. 1,200.
“ – 16 : Goods sold at 3% trade discount, Tk. 1,20,000 (60% in cash, 40% on account).
“ – 25 : Cash received from a customer Tk. 30,000.
“ – 28 : Prepaid rent expired for 1 month.
Required:
a) Give the opening journal entry.
b) Show the effects of transaction on accounting equation by tabular analysis.
c) Prepare an income statement for the month ended January 31, 2018.
Answer: Dhaka Board-2019
a b c
a.
Selim Traders
Opening Journal
Date Particulars L/F Debit Taka Credit Taka
2018
Jan. 1 Cash Account Dr. 1,00,000
Office Equipment Account Dr. 1,50,000
Accounts Receivable Dr. 50,000
Accounts Payable Account Cr. 40,000
Capital Account Cr. 2,60,000
(Opening entry is recorded for 2018 with
the closing balance of 2017)

Total 3,00,000 3,00,000

Introduction to Accounting 1/37
b. The effects of transaction on accounting equation in tabulation form:
Selim Traders
Tabular format
(Effects of transaction on accounting equation)
For the month of January 2018
Date Assets = Liabilities + Owner’s Equity Comments
Cash +Accounts +Office +Prepaid Accounts +Note Capital +Income -Expense
Receivable Equipment Rent Payable Payable
2018
Jan.1 1,00,000 50,000 1,50,000 = 40,000 + 2,60,000 Balance
Jan.5 1,00,000 50,000 1,50,000 = 40,000 + 2,60,000
50,000 = 50,000
Jan.8 1,50,000 50,000 1,50,000 = 40,000 50,000 + 2,60,000
(30,000) = 90,000 (1,20,000) Purchase
Jan. 10 1,20,000 50,000 1,50,000 = 1,30,000 50,000 + 2,60,000 (1,20,000)
(15,000) 15,000 =
Jan. 12 1,05,000 50,000 1,50,000 15,000 = 1,30,000 50,000 + 2,60,000 (1,20,000) Sundry
(1,200) = (1,200) expense
Jan. 16 1,03,800 50,000 1,50,000 15,000 = 1,30,000 50,000 + 2,60,000 (1,21,200) Sales
69,840 46,560 = 1,16,400 revenue
Jan. 25 1,73,640 96,560 1,50,000 15,000 = 1,30,000 50,000 + 2,60,000 1,16,400 (1,21,200)
30,000 (30,000) =
Jan. 28 2,03,640 66,560 1,50,000 15,000 = 1,30,000 50,000 + 2,60,000 1,16,400 (1,21,200) Rent
(5,000) = (5,000) expense
2,03,640 66,560 1,50,000 10,000 = 1,30,000 50,000 + 2,60,000 1,16,400 (1,26,200)
4,30,200 4,30,200
Introduction to Accounting 1/38
c.
Salim Traders
Statement of comprehensive income
For the month ended 31st, January 2018
Particulars Taka Taka
Sales 1,20,000
(-) Sales Discount (3,600)
1,16,400
Less: Cost of goods sold:
Purchase (90,000 + 30,000) (1,20,000)
Gross Loss (3,600)
Less: Operating expense:
Sundry expense 1,200
Rent expense 5000
(6,200)
Net Loss (9,800)
29. Mr. Altaf Mahmud started business at 1st May in 2018 with cash Tk. 70,000. Furniture Tk. 80,000,
Machinery Tk. 90,000 and Bank loan Tk. 35,000. Following transactions are occurred during the month.
2018
May– 2 : Purchase goods in cash Tk. 25,000 and on credit Tk. 40,000.
“–4 : Sales goods in cash Tk. 55,000 and on credit Tk.90,000.
“–8 : Furniture purchase on credit Tk. 56,000.
“ – 12 : Purchased supplies Tk. 7,000.
“ – 15 : Salary paid to employees Tk. 40,000.
“ – 20 : Cash paid for advertisement Tk. 15,000.
“ – 25 : Drawing from business for personal use in cash Tk.8,000.
“ – 25 : Paid to Account payable Tk. 20,000.
Required:
a) Determine opening capital.
b) Show the classification in modern method for the transaction of dated 2, 4, 20 and 25.
c) Show the effect on accounting equation in tabular form for the transaction of dated 1, 8, 12, and 31.
Answer: Dinajpur Board-2019
a b c
a. Determination of opening capital:
Date Particulars Taka Taka
2018
May. 1 Equipment 90,000
Furniture 80,000
Cash (70,000 + 35,000) 1,05,000
2,75,000
(-) Bank Loan (35,000)
2,40,000
b. Classification of accounts
Date Account Name Classification
2018
May. 2 Purchase Account Expense Account
Cash Account Asset Account
Payable Account Liability Account
May. 4 Cash Account Assets Account
Receivable Account Asset Account
Sales Account Income Account
May. 20 Advertisement Account Expense Account
Cash Account Asset Account
May. 25 Drawings Account Owner’s Equity Account
Cash Account Assets Account
Introduction to Accounting 1/39
c.
Mr. Altaf Mahmud
Tabular format
(Effects of transaction on accounting equation)
For the month of May 2018
Date Assets = Liabilities + Owner’s Comments
Equity
Cash +Equipments +Furniture +Supplies = Bank +Accounts Capital
Loan Payable
2018 +
May.1 1,05,000 90,000 80,000 = 35,000 240,000 Opening
capital
May.8 1,05,000 90,000 80,000 = 35,000 + 240,000
56,000 = 56,000
May.12 1,05,000 90,000 136,000 = 35,000 56,000 + 240,000
(7,000) 7,000 =
May.31 98,000 90,000 136,000 70,000 = 35,000 56,000 + 240,000
(20,000) = (20,000)
78,000 90,000 136,000 7,000 = 35,000 36,000 240,000
3,11,000 = 3,11,000
Introduction to Accounting 1/40
st
30. Mr. Ajrof started business at 1 June, 2018 with cash Tk. 50,000, Goods Tk. 15,000, and Bank
balance Tk. 20,000. His other transactions of that month given below:
2018
June – 5 : Goods sold to Arshad Tk. 20,000 of which 60% is in cash.
“ – 10 : Four months’ rent Tk. 12,000 was paid in advance.
“ – 20 : Goods purchased from Nasrin Tk. 10,000 of which 40% is in cash.
“ – 25 : Supplies purchase on account Tk. 5,000.
“ – 27 : Received electricity bill of Tk. 3,000.
“ – 30 : Paid salaries Tk 5,000 by cheque.
Required:
a) Computer the net Accounts Payable at the end of the month.
b) Give journal entries of June 1,5,10 and 30 transactions.
c) Show the effects of transactions of June 5, 20, 25, and 27 by tabular analysis on accounting
equation.
Answer: Sylhet Board-2019
a b c
a. The net account payable at the end of the month
Date Particulars Taka Taka
2018
June – Purchase on credit (10,000×60%) 6,000
20
June – Supplies purchase on credit 5,000
25
11,000
b.
Mr. Ajrof
(Journal)
Date Particulars LF Debit Taka Credit
Taka
2018
June - 1 Cash account Dr. 50,000
Purchase account Dr. 15,000
Bank account Dr. 20,000
Capital account Cr. 85,000
(Starting business with cash, bank balance
& goods)
June - 5 Cash account Dr. 12,000
Account receivable (Arshad) Dr. 8,000
Sales account Cr. 20,000
(Goods sold to Arshad in cash & on
Account)
June - 10 Advance rent account Dr. 12,000
Cash account Cr. 12,000
(Rent paid in advance)
June - 30 Salary account Dr. 5,000
Bank account Cr. 5,000
(Salary paid by cheque)
Introduction to Accounting 1/41
c. The effects transaction by tabular analysis on accounting equation:
Date Assets Liabilities O/E Comment
Cash Account Supplies = A/P Accrued + Capital +Income -Expense
Receivable electricity
bill
2018 = +
June – 5 12,000 8,000 20,000 Sales
revenue
June – 20 12,000 8,000 = + 20,000 Purchase
(4,000) 6,000 (10,000) expense
June – 25 8,000 8,000 5,000 = 6,000 + 20,000 (10,000)
5,000
June – 27 8,000 8,000 5,000 = 11,000 + 20,000 (10,000) Electricity
3,000 (3,000) expense
8,000 8,000 5,000 = 11,000 3,000 + 20,000 (13,000)
21,000 21,000
Introduction to Accounting 1/42
st
31. Mr. Hafiz started business at 1 December, 2018 with cash Tk. 30,000, and office equipment Tk.
40,000. His other transactions of that month were as follows:-
2018
December – 2 : Goods purchased for Tk. 20,000 in cash.
“–6 : Office equipment purchased for Tk. 10,000 in cash.
“–9 : Goods sold for Tk.45,000 in cash.
“ – 15 : Goods purchased for Tk. 30,000 on credit.
“ – 20 : Goods sold for Tk.40,000 on credit.
“ – 26 : Paid to accounts payable Tk. 25,000.
“ – 28 : Cash realized from accounts receivable Tk. 20,000.
“ – 30 : Salary paid to the employees Tk. 10,000.
Required:
a) Compute opening capital.
b) Calculate the amount of owner’s equity of Mr. Hafiz at the end of the month.
c) Show the effects of above transactions in accounting equation.
Answer: Jessore Board-2019
a b c
a. Determination of opening capital:
Particulars Taka Taka
Cash 30,000
Office Equipment 40,000
Opening Capital 70,000

b. Determination of owner’s equity at the end of the month:

Date Particulars Taka Taka
2018
Dec.1 Opening Capital (30,000 + 40,000) 70,000
Dec.2 (-) Purchase (20,000)
50,000
Dec.9 (+) Sales 45,000
95,000
Dec.15 (-) Purchase (30,000)
65,000
Dec.20 (+) Sales on credit 40,000
1,05,000
Dec.30 (-) Salary (10,000)
Dec.31 Owner’s Equity at the end of the month 95,000
Introduction to Accounting 1/43
c. The effects of the transactions on accounting equation
Mr. Hafiz
Tabular format
(Effects of transactions on accounting equation)
For the month of December 2018
Date Assets = Liabilities + Owner’s Equity Comments
Cash +Office +Accounts Accounts Capital +Income -Expense -Drawings
Equipment Receivable Payable
2018 +
Dec.1 30,000 40,000 = 70,000 Opening
capital
Dec.2 30,000 40,000 = + 70,000
(20,000) = (20,000) Purchase
Dec.6 10,000 40,000 = + 70,000 (20,000)
(10,000) 10,000 =
Dec.9 0 50,000 = + 70,000 (20,000)
45,000 = 45,000 Sales
Dec.15 45,000 50,000 = + 70,000 45,000 (20,000)
= 30,000 (30,000) Purchase
Dec.20 45,000 50,000 = 30,000 + 70,000 45,000 (50,000)
40,000 = 40,000 Sales
Dec.26 45,000 50,000 40,000 = 30,000 + 70,000 85,000 (50,000)
(25,000) = (25,000)
Dec.28 20,000 50,000 40,000 = 5,000 + 70,000 85,000 (50,000)
20,000 (20,000) =
Dec.30 40,000 50,000 20,000 = 5,000 + 70,000 85,000 (50,000)
(10,000) = (10,000) Salary exp.
30,000 50,000 20,000 = 5,000 + 70,000 85,000 (60,000)
1,00,000 = 1,00,000
Introduction to Accounting 1/44
st
32. Kamal is a businessman. On 1 January 2018, the following transaction are occurred in his business:
January– 1 : He started his business with cash Tk. 1,00,000 and furniture Tk. 50,000.
“–3 : Cash deposited into Sonali Bank Tk. 20,000.
“–5 : Income tax paid Tk. 10,000.
“ – 10 : Purchase Tk. 60,000 (60% in cash and remaining portion on credit).
“ – 12 : Sales on credit Tk. 25,000. Terms of 2/10, n/30.
“ – 15 : Life insurance premium paid Tk. 5,000.
“ – 22 : Credit sales on January 12 there was a recovery.
“ – 25 : 10 January creditors paid in cash.
Required:
a) Determine the opening capital of Mr. Kamal.
b) Give the journal entries for January 5,12,15, and 22.
c) Show the accounting equation effects in a tabular summary for the transactions of January 1,3,10,
and 25.
Answer: Chottogram Board-2019
a b c
a. Determining of opening capital
Date Particulars Taka Taka
2018
Jan – 1 Cash 1,00,000
Jan – 20 Furniture 50,000
1,50,000
b.
Mr. Kamal
Journal entries
Date Particulars L/F Debit Taka Credit
Taka
2018
Jan- 1 Drawing account Dr. 10,000
Cash account Cr. 10,000
(Income tax paid)
Jan- 1 Account receivable Dr. 25,000
Sales account Dr. 25,000
(Sales on credit)
Jan- 1 Drawing account Dr. 5,000
Cash account Cr. 5,000
(Life insurance premium paid)
Jan- 1 Cash account Dr. 24,500
Trade discount account (25,000 X 2%) Dr. 500
Account receivable Cr. 25,000
Introduction to Accounting 1/45
c. The accounting equation effects in a tabular format of the transactions
Date Assets Liability Owner’s equity
Cash +Furnit +Bank = Accounts + Capital - Comment
ure payable Expense
2018
Jan – 1 1,00,000 50,000 = + 1,50,000 Brought
capital
Jan – 3 1,00,000 50,000 = + 1,50,000
(20,000) 20,000 =
Jan – 10 80,000 50,000 20,000 = + 1,50,000
(36,000) = 24,000 (60,000) Expense
Jan - 25 44,000 50,000 20,000 = 24,000 + 1,50,000 (60,000)
(24,000) = (24,000)
20,000 50,000 20,000 = + 1,50,000 (60,000)
90,000 = 90,000
33. Oshim Trader’s following transactions are given below on march 31, 2018:
2018
March -1 Oshim Traders started a business with Tk. 50,000 of cash, Tk. 45,000 of bank
deposit and Tk. 40,000 of loan.
March-5 Goods sold to Anita Tk. 35,000.
March-7 Goods purchased on credit from Monir Tk. 25,000.
March-9 Goods sold on cash Tk. 29,000.
March-18 A cross check is received from Anita of Tk. 10,000
March-19 Free good distribution of Tk. 4,000
March-31 Bank allowed interest Tk. 1,000
Required:
(a) Determine the amount of net purchase.
(b) Determine the type of accounts with classification.
(c) Show the effects on accounting equation.
Answer: Rajshahi Board-2019
a b c
a. Determination of net purchase:
Date Particulars Taka Taka
2018
March- 7 Credit purchase from Monir 25,000
March- 19 (-) free distribution of goods (4,000)
21,000
b. Classification and accounts name of transactions:
Date Account name Classification
2018
March- 1 Cash account Asset account
Bank account Asset account
Loan account Liabilities account
Capital account Owner’s equity account
March- 5 Receivable (Anita) account Asset account
Sales account Income account
March- 7 Purchase account Expense account
Payable account (Monir) Liability account
March- 9 Cash account Asset account
Sales account Income account
March- 18 Bank account Assets account
Receivable account (Anita) Assets account
March- 19 Advertisement account Expense account
Purchase account Expense account
March- 31 Bank account Assets account
Bank interest account Income account
Introduction to Accounting 1/46
c. The effects on the accounting equation:
Oshim Traders
Tabular format
(Effects of transaction on accounting equation)
For the month of March 2018
Date Assets = Liabilities + Owner’s Equity Comments
Cash +Bank +Accounts Accounts +Loan Capital +Income -Expense
Receivable Payable
2018
Mar.1 90,000 45,000 = 40,000 + 95,000 Capital brought
Mar.5 90,000 45,000 = 40,000 + 95,000
35,000 = 35,000 Sales revenue
Mar.7 90,000 45,000 35,000 = 40,000 + 95,000 35,000
= 25,000 (25,000) Purchase
Mar.9 90,000 45,000 35,000 = 25,000 40,000 + 95,000 35,000 (25,000)
29,000 = 29,000
Mar. 18 1,19,000 45,000 35,000 = 25,000 40,000 + 95,000 64,000 (25,000)
10,000 (10,000) =
Mar. 19 1,19,000 55,000 25,000 = 25,000 40,000 + 95,000 64,000 (25,000)
4,000 Decrease of Expense
(4,000) Advertisement
Expense
Mar. 31 1,19,000 55,000 25,000 = 25,000 40,000 + 95,000 64,000 (25,000)
1,000 = 1,000 Interest income
1,19,000 56,000 25,000 = 25,000 40,000 + 95,000 63,000 (25,000)
2,00,000 2,00,000
Introduction to Accounting 1/47
34. Mr. Nazrul started his business with Tk. 500,000 of cash, Tk. 200,000 of goods and Tk. 100,000
of bank deposit. He has the following transactions:
(i) Goods purchased on check Tk. 50,000.
(ii) Goods sold on account Tk. 70,000.
(iii) Free goods distribution to consumers Tk. 5000.
(iv) Withdrawn from bank for personal use Tk. 10,000.
(v) Bank allowed interest Tk. 1200.
Required::
(a) Determine the amount of opening capital.
(b) Show the classification of accounts under modern method from transactions from 1 to 4.
(c) Determine the amount of equity for Mr. Nazrul at the end of the month.
Answer: Cumill Board-2019
a b c
a. Determination of opening capital:
Particulars Taka Taka
Cash 5,00,000
Goods 2,00,000
Bank balance 1,00,000
8,00,000
b. Classification of accounts of the given transactions:
S. L Account Name Classification
1. Purchase account Expense account
Bank account Asset account
2. Account receivable Assets account
Sales account Income account
3. Advertisement account Expense account
Purchase account Expense account
4. Drawings account Owner’s equity account
Bank account Asset account
c. Determination of owner’s equity at the end of the month:
Particulars Taka Taka
Opening Capital (5,00,000 + 2,00,000 + 1,00,000) 8,00,000
(-) Purchase (50,000)
7,50,000
(-) Opening goods (2,00,000)
5,50,000
(+) Sales 70,000
6,20,000
(-) Advertisement (5,000)
6,15,000
(+)Purchase (Decrease expense) 5,000
6,20,000
(-) Drawings (10,000)
6,10,000
(+) Bank interest 1,200
Closing owner’s equity 6,11,200

35. Mr. Shamim started a new business with cash of Tk. 80,000, furniture of Tk. 40,000, loan from
bank of Tk. 50,000 on January 1, 2018. He has the following transactions:
Jan-2 Tk. 70,000 of delivery van purchased in which Tk. 20,000 has been paid by cash
and the remaining amount has been paid by issuing a note.
Jan-5 Goods purchased on cash Tk. 57,500 including VAT.
Jan-10 Goods sold to Mr. Rafiq Tk. 60,000 at 10% discount and Tk. 30,000 has been
received.
Jan-12 Sales Return of Tk. 5000.
Introduction to Accounting 1/48
Jan-15 Purchased office Supplies Tk. 7,000 and cash paid is Tk. 2000.
Jan-20 Commission received of Tk. 7000.
Jan-30 An advertisement bill is received of Tk. 5000
Requirements:
(a) Determine the opening capital of Mr. Shamim.
(b) Make journal entries for 2,5,10,12 ( without explanation)
(c) Show the effect on accounting equation in a tabular format for 1,5,20,30 January.
Answer: Barisal Board-2019
a b c
a. Opening capital of Mr. Shamim:
Date Particulars Taka Taka
2018
Jan - 1 Cash 80,000
Furniture 40,000
1,20,000
b.
Mr. Shamim
Journal
Date Particulars L/F Debit Credit
Taka Taka
2018
Jan – 2 Delivery van account Dr. 70,000
Cash account Cr. 20,000
Note payable account Cr. 50,000
Jan – 5 Purchase account(57,500 × 100) Dr. 50,000
115
15 Dr. 7,500
Vat current account(57,500 × )
115
Cash account Cr. 57,500
Jan – Cash account Dr. 30,000
10
Account receivable (Rafiq) account (57,500- Dr. 24,000
30,000)
Sales account{60,000 − (60,000 × Cr. 54,000
10%)}
Jan – Return inward Dr. 5,000
12
Account receivable (Rafiq) account Cr. 5,000
Introduction to Accounting 1/49
c. Mr. Shamim
The effects of transaction by tabular analysis on accounting equation:
For the month of January, 2018
Date Assets = Liability + O/E
Cash Furniture Supplies = account payable Bank Capital +Income -Expense Comments
payable advertisem loan
ent Exp
2018 +
Jan – 1 1,30,000 40,000 = 50,000 1,20,000 Brought
capital
Jan – 15 1,30,000 40,000 7,000 = 50,000 + 1,20,000
(2,000) = 5,000
Jan – 20 1,28,000 40,000 7,000 = 5,000 50,000 + 1,20,000
7,000 = 7,000 Commissio
n revenue
Jan – 30 1,35,000 40,000 7,000 = 5,000 50,000 + 1,20,000 7,000 Advertisem
= 5,000 (5,000) ent
expense
1,35,000 40,000 7,000 = 5,000 5,000 50,000 + 1,20,000 7,000 (5,000)
1,82,000 = 1,82,000
Introduction to Accounting 1/50
36. Mr. Shajadur Rahman started business on 1 November bringing cash Tk. 40,000, goods Tk. 60,000
and loan Tk. 50,000. During the month following transactions occurred in his business:-
November -2 Opened a current account with bank Tk. 20,000.
November -6 Furniture purchased for sale Tk. 35,000.
November -8 Sold goods to Riu Tk 30,000 and VAT charge for it 15%.
November -10 Goods purchased from Shomiho Rahman for Tk. 45,000 and vat charge
for it 15%.
November -13 Loan received from Tonu Tk. 10,000
November -15 Loan paid to Tonu by cheque
November -17 Furniture sold by cheque for Tk. 5,000
November -20 Bank charge Tk. 500.
November -24 Income tax paid for Tk. 3,000.
November -26 Purchase saving certificate for Tk. 20,000.
November -30 Withdrew Tk. 7,000 cash for personal use.
Requirements:
(a) How much is the amount of total VAT?
(b) Show the classification of account for the transactions of November 17, 24, 26 and 30
(c) Give journal entries of transactions of November 10, 13, 15 and 20. (Explanation not necessary)
Answer: Dhaka, Dinajpur, Jessore and Sylhet Board Exam Question-2018
a b c
a. Total VAT calculation:
Date Particulars Detailed Taka Taka
2017
Nov - 8 VAT on sale (30,000×15%) 4,500
Nov - 10 VAT on purchase (45,000×15%) 6,750
Total 11,250

b. Classification of accounts for the transactions of November 17, 24, 26 and 30:
Date Transaction Accounts Account
classification
2017
Nov – 17 Furniture sales on cheque at Tk.5,000 Bank account Assets
Sales account Income
Nov – 24 Income tax paid Tk. 3,000 Drawing account Owner’s equity
Cash account Asset
Nov – 26 Purchase savings certificate Tk.20,000 Investment account Asset
Cash account Asset
Nov - 30 Cash withdrawn for personal use Drawing account Owner’s Equity
Cash account Asset
c.
Mr. Sajedur Rahman
Journal
Date Account title and explanations J/F Debit Credit Taka
Taka
2017
Nov – 10 Purchase account Dr. 45,000
VAT current account(45,000 × 15%) Dr. 6,750
Account payable (Samiho Cr. 51,750
Rahman)
Nov – 13 Cash account Dr. 10,000
Loan account Cr. 10,000
Nov – 15 Loan account (Tonu) Dr. 10,000
Bank account Cr. 10,000
Nov - 20 Bank charge account Dr. 500
Bank account Cr. 500
Introduction to Accounting 1/51
37. Mr. Rahim Mia started business on January 2017 with cash Th. 100.000 and Furniture Tk. 50,000.
The other transactions for the month were as follows:
January-3 Hired an employee with monthly salary of Tk. 12,000
January-8 Goods purchased on cash Tk. 30,000
January-15 Goods purchased on account Tk. 10,000
January-20 Goods sold to Alam Tk. 40.000
January-25 Life insurance premium of Rahim Mia paid from personal fund amounted to Tk.
500

January-30 Salary paid to the employee Tk. 12,000.

Requirements:
(a) Calculate the total amount of non-transactional events.
(b) Classify the accounts in modern system for events that can be defined as transactions,
(c) Prepare a cash account and capital account in standard form of account.
Answer: Rajshahi, Comilla, Chottogram and Barisal Board-2018
a b c
a. Total amount of events that are not transactions:
Date Particulars Taka Taka
2017
Jan - 3 Hired an employee 12,000
Jan - 25 Life Insurance premium paid by own fund 500
12,500
b. Classification of accounts in modern method:
Date Transaction Accounts Account
classification
2017
Jan - 1 Started business with cash Tk. 1,00,000 Cash account Assets
and furniture of Tk. 50,000 Furniture account Assets
Capital account Owner’s equity
Jan - 8 Purchase on cash Tk. 30,000 Purchase account Expense
Cash account Assets
Jan - 15 Purchase on credit Tk. 10,000 Purchase account Expense
Account payable Liability
Jan - 20 Sales to Alam Tk. 40,000 Account receivable Assets
Sales account
Income
Jan - 30 Salaries paid to employee Tk. 12,000 Salary account Expense
Cash account Assets
c.
Mr. Rahim Mia
Ledger
Cash account
Account code no:--------
Date Particulars J/F Debit Credit Balance
Taka Taka Debit Credit
2017
Jan – 1 Capital account 1,00,000 1,00,000
Jan - 8 Purchase account 30,000 70,000
Jun - 30 Salary account 12,000 58,000
Introduction to Accounting 1/52
Capital account
Account code no:--------
Date Particulars J/ Debit Credit Balance
F Taka Taka Debit Credit
2017
Jun -1 Cash account 1,00,000 1,00,000
Jan - 1 Furniture 50,000 1,50,000
38. Mr. Karim starts his business at 1st January 2016 with cash Tk. 1,00,000 and loan from Bank Tk.
80,000. Other transactions of his business are as follows:
Jan – 2 : Purchase merchandise at 2% discount Tk. 10,000.
“ –4: Life insurance premium paid Tk. 5,000.
“ –8: Bad debts written off Tk. 500
“ – 10 : Salary paid to the office employees Tk. 10,000.
“ –12 : Purchase computer for office use Tk. 40,000
“ – 20 : Goods withdrawn for personal use Tk. 5,000
“ – 25 : Purchase a delivery van for the business purpose Tk. 1,00,000.
Requirements:
a) Calculate amount of drawings of Mr. Karim.
b) Make journal entry with transaction date no. 2, 4, 12, and 25.
c) Show the effects of the transactions in accounting equation in tabular form.
Answer: Dhaka Board-2017
a b c
a. Total drawing of Mr. Karim
Date Particulars Tk. Tk.
Jan – 4 Life insurance premium paid from business 5,000
Jan-20 Goods drawings 5,000
Total 10,000
b.
Mr. Karim
Journal
Date Accounts title and explanation LF Debit Credit
(Tk.) (Tk.)
2018
Jan-2 Purchase account {10,000-(10,000x2%)} 9,800
Cash account 9,800
(Purchase in cash at 2% discount
Jan-4 Drawings account 5,000
Cash account 5,000
(Life insurance premium of owner is paid from
business)
Jan-12 Office equipment account 40,000
Cash account 40,000
(Computer purchased in cash)
Jan-25 Delivery van account 1,00,000
Cash account 1,00,000
(Delivery van purchased)
39. Mr. Mahamudullah started his business as on 1st March 2016 taking cash Tk. 50,000 furniture Tk.
35,000 and Bank loan 25,000. In the month of March following transaction have been occurred
2016
March – 2 : Purchase on account Tk. 60,000.
“–5 : Goods sold by cross cheque Tk. 1,00,000
“–6 : Office rent paid Tk. 21,000
“ – 12 : Goods sold in cash 45,000
“ – 18 : Purchased electrical equipment Tk. 7,000
“ – 31 : Paid salary to office employees Tk. 20,000.
Introduction to Accounting 1/53
Requirements:
a) Calculate opening capital as on 1st March 2016 considering the above mentioned information.
b) Pass necessary journal entries with 2,5,18 and 31st dated transactions.
c) Present with tabular format the effect of 1,5,6, and 12th dated transaction in accounting equation.
Answer: Chottogram Board-2017
a b c
a. Calculation of opening capital on 1st March 216:
Particulars Taka Taka
Cash 50,000
Furniture 35,000
Opening capital 85,000
b.
Mr. Mahamudullah
Journal entries
Date Particulars L Debit Credit
F Taka Taka
2016
March - 2 Purchase account Dr. 60,000
Account Payable Cr. 60,000
(Purchase on credit)
March - 5 Bank account Dr. 1,00,000
Sales account Cr. 1,00,000
(Sales by crossed cheque)
March - 18 Electric equipment account Dr. 7,000
Cash account Cr. 7,000
(Electric equipment purchase)
March - 31 Salary account Dr. 20,000
Cash account Cr. 20,000
(Salary paid to employee)

c. Effects of transactions of March 1, 5, 6 and12:

Date Assets Liability Owner’s equity
Cash (+) (+) = Bank Capital + -
Bank Furniture loan Income Expense
2016 =
March – 75,000 35,000 25,000 85,000
1
March – 75,000 35,000 = 25,000 85,000
5 1,00,000 1,00,000
March – 75,000 1,00,000 35,000 = 25,000 85,000 1,00,000
6 (21,000) (21,000)
March – 54,000 1,00,000 35,000 = 25,000 85,000 1,00,000 (21,000)
12 45,000
45,000
99,000 1,00,000 35,000 = 25,000 85,000 1,45,000 (21,000)
2,34,000 2,34,000
Introduction to Accounting 1/54
c.
Mr. Karim
Tabular format (Effect of transaction on accounting equation)
For the month of January, 2016
Date Assets = Liabilities + Owner’s equity Comments
Cash +A/R +Office +Delivery Bank loan Capital -Expenses -Drawing
equipment van

2016
Jan-1 1,80,000 = 80,000 + 1,00,000 Opening capital
1,80,000 = 80,000 + 1,00,000
Jan-2 (9,800) = + (9,800) Purchase
1,70,200 = 80,000 + 1,00,000 (9,800)
Jan-4 (5,000) = + (5,000) Drawing
1,65,200 = 80,000 + 1,00,000 (9,800) (5,000)
Jan-8 (500) = + (500) Bad debt
1,65,200 (500) = 80,000 + 1,00,000 (10,300) (5,000)
Jan-10 (10,000) = + (10,000)
1,55,200 (500) = 80,000 + 1,00,000 (20,300) (5,000) Salaries
Jan-12 (40,000) 40,000 = +
1,15,200 (500) 40,000 = 80,000 + 1,00,000 (20,300) (5,000)
Jan-20 = + 5,000 (5,000) Drawing
1,15,200 (500) 40,000 = 80,000 + 1,00,000 (15,300) (10,000)
Jan-25 (1,00,000) 1,00,000 = +
15,200 (500) 40,000 1,00,000 = 80,000 + 1,00,000 (15,300) (10,000)
1,54,700 = 1,54,700
Introduction to Accounting 1/55
40. Mr. Kamran started his legal practice business to bring cash Tk. 1,00,000 and a computer of Tk.
50,000 on 1st January 2016. The following events are found in his business for the month.
Jan – 2 : Appointing a manager for monthly salary of Tk. 15,000.
“ –8: Purchase furniture on credit Tk. 30,000.
“ – 12 : Legal services provided to the clients for cash Tk. 25,000.
“ – 18 : Legal service provided to the clients on account Tk. 30,000.
“ – 20 : Loan taken from Janata Bank Ltd. for own purpose Tk. 50,000.
“ – 30 : Paid the manager’s salaries for the current month.
“ – 30 : Dues for furniture purchase paid off Tk. 10,000.
“ – 31 : Paid office rent for the month of January Tk. 12,000.
Requirements:
a) Find out the total amount of above events, which are not transactions.
b) Determine the amount of owners’ equity of Mr. Kamran at the end of January 2016.
c) Show the effects of the transaction on accounting equation in tabular format.
Answer: Jessore Board-2017
a b c
a. The total amount of events which are not transaction
Date Particulars Taka Taka
2018
Jan. 1 Appointment of a manager 15,000
Jan. 20 Loan taken for personal purpose 50,000
65,000

b. Determination of amount of owner’s Equity at the end of the January:

Date Particulars Taka Taka
2016
Jan. 1 Capital (1,00,000 + 50,000) 1,50,000
Jan. 12 (+) Service Revenue 25,000
1,75,000
Jan. 18 (+) Service Revenue 30,000
2,05,000
Jan. 30 (-) Salary Expense (15,000)
1,90,000
Jan. 31 (-) Rent expense (12,000)
1,78,000
Introduction to Accounting 1/56
c. Effect of transaction on accounting equation:
Mr. Kamran
Tabular format
(Effects of transaction on accounting equation)
For the month of January 2016
Date Assets = Liabilitie + Owner’s Equity Comments
s
Cash +Accounts +Office +Furniture Accounts Capital +Income -Expense
Receivable Equipment Payable
2016
Jan.1 1,00,000 50,000 = + 1,50,000 Opening capital
Jan.8 1,00,000 50,000 = + 1,50,000
30,000 = 30,000
Jan.1 1,00,000 50,000 30,000 = 30,000 + 1,50,000
2 25,000 = 25,000 Service revenue
Jan. 1,25,000 50,000 30,000 = 30,000 + 1,50,000 25,000
18 30,000 = 30,000 Service revenue
Jan. 1,25,000 30,000 50,000 30,000 = 30,000 + 1,50,000 55,000
30 (15,000) = (15,000) Salary expense
Jan. 1,10,000 30,000 50,000 30,000 = 30,000 + 1,50,000 55,000 (15,000)
30 (10,000) = (10,000)
Jan. 1,00,000 30,000 50,000 30,000 = 20,000 + 1,50,000 55,000 (15,000)
31 (12,000) = (12,000) Rent expense
88,000 30,000 50,000 30,000 = 20,000 + 1,50,000 55,000 (27,000)
1,98,000 = 1,98,000
Introduction to Accounting 1/57
41. Mr. Sajib started business on 1 March 2016 with cash Tk. 50,000 and furniture Tk. 30,000. During
the month the other transactions were completed as follows:
March – 2 : Purchased furniture Tk. 8,000 in cash.
“–5 : Purchased supplies on account Tk. 7,000.
“ – 10 : Completed service rendered for Tk. 16,000 of which cash received Tk. 6,000.
“ – 15 : Paid advertisement expenses Tk. 5,500.
“ – 20 : Paid the amount for supplies purchased on account date on 5.
“ – 25 : Received interest on investment Tk. 4,000.
“ – 30 : Supplies used Tk. 4,500.
Requirements:
a) Determine opening capital.
b) Show the effect on accounting equation of the transactions in a tabular analysis date of 1, 2, 5
and 10.
c) Prepare journal entries from the transactions dated of 15, 20, 25 and 30. (You may avoid
explanations).
Answer: Dinajpur Board-2017
a b c
a. Calculation of opening capital on 1st March, 2016:
Particulars Taka Taka
Cash 50,000
Furniture 30,000
Total 80,000

b. The effect of Transaction on Accounting equation by Tabular analysis:

Date Assets Liability + Owner equality
Cash Furniture Account Supplies = Account Capital + income
receivable payable
2016 = +
March 50,000 30,000
–1 80,000
March 50,000 30,000 = + 80,000
–2 (8,000) 8,000
March 42,000 38,000 = + 80,000
–5 7,000 7,000
March 42,000 38,000 7,000 = 7,000 + 80,000
– 10 6,000 10,000 16,000
48,000 38,000 10,000 7,000 = 7,000 + 80,000 16,000
1,03,000 = 1,03,000
c.
Mr. Sajib
Journal Entries
Date Particulars L Debit Credit
P Taka Taka
2016
March - 15 Advertisement account Dr. 5,500
Cash account Cr. 5,500
March - 20 account Payable Dr. 7,000
Cash account Cr. 7,000
March - 25 Cash account Dr. 4,000
Interest on investment account Cr. 4,000
March - 30 Supplies Expense account Dr. 4,500
Supplies account Cr. 4,500
42. Ms. Dilruba Jahan is a merchandiser. She started her business on 1st January 2016 bringing cash Tk.
1,00,000. Transactions occurred on January in her business are as follows:-
January 3 Merchandise purchased from Salsabil Traders on account Tk. 60,000.
Introduction to Accounting 1/58
7 Merchandise sold Tk. 40,000 cash (cost price Tk. 25,000).
10 Merchandise sold Tk. 40,000 on account to Safin Enterprise (cost Tk. 20,000)
20 Merchandise returned to Salsabil Traers Tk. 2,000.
25 Paid to Salsabil Traders 3/4th of dues in respect of 3% discount.
30 Received cash Tk. 19,200 from Safin Enterprise after 4% discount.
31 Amount of bad debt expense is Tk. 1,000.
Requirements:
a) Determine the net purchase and net sales amount of Ms. Dilruba Jahan in January.
b) Prepare a tabular summary of the transactions.
c) Prepare an income statement of Ms. Dilruba Jahan for the month ended in January.
Answer: Sylhet Board-2017
a b c
a. Determination of net purchase and sales:
Date Particulars Taka Taka
2016 Net Purchase:
Jan. 3 Purchase 60,000
Jan. 20 (-) Return (2,000)
Net Purchase 58,000
2016 Net Sales:
Jan. 7 Cash Sales 40,000
Jan. 10 (+) Sales on credit 40,000
Net Sales 80,000
Introduction to Accounting 1/59
b. A Tabular summary of the transactions:
Mrs. Dilruba Jahan
Tabular format
(Effects of transaction on accounting equation)
For the month of January 2016
Date Assets = Liabilities + Owner’s Equity Comments
Cash +Inventory +Accounts Accounts Capital +Income - -
Receivable Payable Expense Drawings
2018 +
Jan.1 1,00,000 = 1,00,000 Opening capital
Jan.3 1,00,000 = + 1,00,000
60,000 = 60,000
Jan.7 1,00,000 60,000 = 60,000 + 1,00,000
40,000 (25,000) = 15,000 Sales revenue
Jan.10 1,40,000 35,000 = 60,000 + 1,00,000 15,000
(20,000) 40,000 = 20,000 Sales revenue
Jan.20 1,40,000 15,000 40,000 = 60,000 + 1,00,000 35,000
(2,000) = (2,000)
Jan.25 1,40,000 13,000 40,000 = 58,000 + 1,00,000 35,000
(42,195) = (43,500) 1,305 Discount income
Jan.30 97,805 13,000 40,000 = 14,500 + 1,00,000 36,305
19,200 (20,000) = (800) Discount expense
Jan.31 1,17,005 13,000 2,000 = 14,500 + 1,00,000 36,305 (800)
(1,000) = (1,000) Bad debt expense
1,17,005 13,000 19,000 = 14,500 + 1,00,000 36,305 (1,800)
149,005 = 1,49,005
Introduction to Accounting 1/60
c. Mrs. Dilruba Jahan
Income Statement
For the month ended on 31 January 2016
Particulars Taka Taka Taka
Sales 40,000
(+) Sales on credit 40,000
80,000
(-) Cost of goods sold 45,000
Gross profit 35,000
(+) Operating income:
Discount received 1,305
36,305
(-) Operating expense:
Bad debt 1,000
Discount allowed 800
(1,800)
Net Profit 34,505
43. On January 01, 2016, Mr. Sobuj started his business with cash Tk. 2,00,000 and furniture Tk. 50,000.
The transactions of that month are as follows:
2016
January 4 Sales in Cash taka 40,000
January 7 Purchase on account taka 20,000
January 10 deposit to bank taka 10,000
January 15 purchase of equipment taka 25,000
January 18 Rent paid taka 5,000
January 22 Sales on account taka 24,000
January 27 Cash Withdrawn from bank for personal use taka 7,000
January 30 Collections from accounts receivable taka 10,000
Requirements:
a) Calculate the starting/opening capital.
b) Give journal entries for the date 4, 10, 18 and 27 (No explanation needed).
c) Show the effect of the transaction on accounting equation for 7, 15, 22 and 30.
Answer: Rajshahi Board-2017
a b c
a. Calculation of opening capital:
Particulars Taka Taka

Cash 2,00,000
Furniture 50,000
2,50,000
b.
Mr. Sobuz
Journal entries
Date Particulars LF Debit Credit
Taka Taka
2016
Jan - 4 Cash account Dr. 40,000
Sales account Cr. 40,000
Jan - 10 Bank account Dr. 10,000
Cash account Cr. 10,000
Jan - 18 Rent account Dr. 5,000
Cash account Cr. 5,000
Jan - 27 Drawings account Dr. 7,000
Bank account Cr. 7,000
Introduction to Accounting 1/61
c. The effects of transaction on accounting equation by tabular analysis:
Date Assets Liability Owner’s equity
Cash Machiner Receivabl = Payable + Comments
y e account account Income -
Expense
2018
Jan – 7 = + Increase
20,000 (20,000) expense
Jan – 25,000 = 20,000 + (20,000)
15 (25,000)
Jan – (25,000) 25,000 = 20,000 + (20,000) Increase
22 24,000 24,000 income
Jan – (25,000) 25,000 24,000 = 20,000 + 24,000 (20,000)
30 10,000 (10,000)
(15,000) 25,000 14,000 20,000 + 24,000 (20,000)
24,000 = 24,000
44. Mr. Imran is an architect. He starts a service firm with cash Tk. 50,000, furniture Tk. 20,000 and
loan Tk. 10,000 on 1st January, [Link] transactions in the month are as follows:
2016
January 2 Rendered service on account Tk. 15,000
January 5 Purchase supplies on account taka 500
January 16 Rent is paid taka 3,000
January 31 Paid loan taka 5,000
Requirements:
a) Calculate opening capital.
b) Make journal entries of the transactions.(No explanation needed)
c) Show the effect of transactions on accounting equation through tabular analysis.
Answer: Barisal Board-2017
a b c
a. Calculation of opening capital
Particulars Taka Taka
Cash 50,000
Furniture 20,000
Opening capital 70,000

b.
Mr. Imran
Journal entries
Date Particulars L.P Debit Taka Credit Taka
2016
Jan – 1 Cash account Dr. 60,000
Furniture account Dr. 20,000
Capital account Cr. 70,000
Loan account Cr. 10,000
Jan – 2 account Receivable Dr. 15,000
Service revenue Cr. 15,000
Jun - 5 Supplies account Dr. 500
account Payable Cr. 500
Jan – 16 Rent account Dr. 3,000
Cash account Cr. 3,000
Jan – 31 Loan account Dr. 5,000
Cash account Cr. 5,000
Introduction to Accounting 1/62
c.
Date Assets Liability Owner equality
Cash Furniture account Supplies = loan account Capital +income Expense Comment
Receivable Payable +
2016 +
Jan – 1
60,000 20,000 = 10,000 70,000
Jun – 2 60,000 20,000 = 10,000 + 70,000
15,000 15,000
Jan – 5 60,000 20,000 15,000 = 10,000 + 70,000 15,000
500 500
Jan – 60,000 20,000 15,000 500 = 10,000 500 + 70,000 15,000 expense
16 (3,000) (3,000) increase
Jun - 57,000 20,000 15,000 500 = 10,000 500 + 70,000 15,000 (3,000)
31 (5,000) (5,000)
52,000 20,000 15,000 500 = 5,000 500 + 70,000 15,000 (3,000)
87,500 87,500
Introduction to Accounting 1/63
45. The balances of accounts of Rashed trader’s on 3th June 2016 are as follows:
Cash taka 25,000, accounts receivable taka 40,000, machinery taka 40,000, furniture taka 25,000,
accounts payable taka 20,000. In the month of July the following transactions were occurred in his
business:
2016
July – 5 : Goods purchased in cash taka 20,000 and on account taka 50,000
“–6 : Paid prepaid insurance for one year taka 24000.
“ – 10 : Goods sold in cash taka 50,000 and accounts receivable taka 20,000
“ – 14 : Half of opening accounts receivable realized @ 2% discount
“ – 20 : Goods used for advertisement taka 5,000 form business.
“ – 31 : One month of prepaid insurance expense is expired.
Requirements:
a) Give opening journal entry of Rashed traders.
b) Show the effect of transactions from date 5 to 14 on accounting equation.
c) Calculate the owner’s equity of Rashed traders on July 31.
Answer: Cumilla Board-2017
a b c
a.
Mr. Rashed
Journal
Date Account title and explanation L Debit Credit
F Taka Taka
2016
July - 1 Cash account Dr. 25,000
Account receivable Dr. 40,000
Machinery account Dr. 40,000
Furniture account Dr. 25,000
Capital account Cr. 1,10,000
Account payable Cr. 20,000
(Business started with cash account payable,
account receivable , furniture & machineries)
Introduction to Accounting 1/64
b.
Date Assets = Liability Owner’s equity Comments
Cash Account Advance Bills = Payable + Income -Expense
receivable insurance receivable account
account
2016 = +
July – 5 Increase
(20,000) 50,000 (70,000) expense
July – 6 (20,000) = 50,000 + (70,000)
(24,000) 24,000
July – 10 (44,000) 24,000 = 50,000 + (70,000) Increase
50,000 20,000 70,000 income
July – 14 6,000 24,000 20,000 = 50,000 + 70,000 (70,000)
Increase
19,600 (20,000) (400) expense
25,600 (20,000) 24,000 20,000 = 50,000 + 70,000 (70,400)
49,600 49,600
Working: Half of account receivable =Tk.20,000
Less: Discount 2% =Tk.400
Tk. 19,600
Introduction to Accounting 1/65
c.
Mr. Rashed Traders
Calculation of owner’s equity on July 31
Particulars Taka Taka
Opening capital 1,10,000
Add: Income:
Sales (50,000+20,000) 70,000

Less: Expenses: 1,80,000

Purchase (20,000 + 50,000 - 5000) 65,000
Discount 400
Advertisement 5,000
Insurance expense (24,000/12) 2,000
72,400
1,07,600