Double
Entry Book Keeping
Ts
Grewal 2022
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 2022 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
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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.
Answer:
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.
Answer:
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.
Answer:
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.
Answer:
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 20222023
Chapter 5: Accounting equation
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