Double
Entry Book Keeping
Ts Grewal 2021
for Class 11 Commerce
Accountancy
Chapter
5 - Accounting Equation
These solutions for Accounting Equation are very
popular among Class 11 Commerce students for Accountancy Double Entry Book
Keeping Ts Grewal 2021
Solutions for Class 11 Commerce Accountancy Chapter 5 Accounting Equation’s solutions are available here with simple and proper sequence and steps
with accurate explanations. Accounting Equation Solutions are handy for
completing your fair notebooks on time and for preparation of exam. Everything
questions and answers from the Book of Class 11 Commerce Accountancy Ts Grewal 2021, Double Entry Book Keeping, Chapter 5 are available here for absolutely free. The
ad-free experience is specialty on this site’s Double Entry Book Keeping Ts Grewal 2021 Solutions. All Solutions for Class 11
Commerce Accountancy are solved by veteran, experienced and expert faculties.
Page No
5.21:
Question
17:
If the capital of a business is `3,00,000 and liabilities
are ` 50,000, loss
` 70,000, calculate the total assets of the business.
Answer:
|
Total Assets |
= |
Capital – Loss +
Liabilities |
|
|
= |
3,00,000 –
70,000 + 50,000 |
|
|
= |
` 2,80,000 |
Page No
5.21:
Question
18:
If total assets of a business are ` 1,30,000 and net worth
is ` 80,000, calculate the creditors.
Answer:
|
Creditors |
= |
Total Assets –
Net worth |
|
|
= |
1,30,000 –
80,000 |
|
|
= |
` 50,000 |
Page No
5.22:
Question
19:
A commenced his cloth
business on 1st April, 2020 with a capital of `30,000. On 31st March 2021,
his assets were worth
`50,000 and liabilities of `10,000. Find out
his closing capital and profits earned during the year.
Answer:
|
Closing Capital |
= |
Assets –
Liabilities |
|
|
= |
50,000 – 10,000 |
|
|
= |
` 40,000 |
|
Profit |
= |
Closing Capital
– Opening Capital |
|
|
= |
40,000 – 30,000 |
|
|
= |
` 10,000 |
Page No
5.22:
Question
20:
If capital of a business is ` 1,40,000 and liabilities
are of ` 80,000, calculate the total assets of the business.
Answer:
|
Total Assets |
= |
Liabilities +
Capital |
|
|
= |
80,000 +
1,40,000 |
|
|
= |
` 2,20,000 |