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#### 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.

 Total Assets = Capital – Loss + Liabilities = 3,00,000 – 70,000 + 50,000 = ` 2,80,000

#### Question 18:

If total assets of a business are  ` 1,30,000 and net worth is  ` 80,000, calculate the creditors.

 Creditors = Total Assets – Net worth = 1,30,000 – 80,000 = ` 50,000

#### Question 19:

A commenced his cloth business on 1st April, 2021 with a capital of  `30,000. On 31st March 2022, his assets were worth  `50,000 and liabilities of  `10,000. Find out his closing capital and profits earned during the year.

 Closing Capital = Assets – Liabilities = 50,000 – 10,000 = ` 40,000

 Profit = Closing Capital – Opening Capital = 40,000 – 30,000 = ` 10,000

#### Question 20:

Calculate the total assets if:
(i) Capital is
` 40,000.
(ii) Creditors are
` 25,000.
(iii) Revenue during the period is
` 50,000.
(iv) Expenses during the period are
` 40,000.

 Capital after Adjustment of revenue and expenses = Capital + Revenue – Expenses = 40,000 + 50,000 – 40,000 =  ` 50,000

 Total Asset = Capital after adjustment + Creditors = 50,000 + 25,000 = ` 75,000

Class : 11th  Ts grewal solution 2022-2023

Chapter 5: Accounting equation

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#### Question no. 1 to 4

Question no. 5 to 8

Question no. 9 to 12

Question no. 13 to 16

Question no. 17 to 20

Question no. 21 to 24

Question no. 25 And 26