A business entity has assets of $R s . 2, 60, 000$ and liabilities of $R s . 60, 000$ . Owner's equity in this case is__________.

R s . 3, 20, 000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

R s . 2, 60, 000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

R s . 2, 00, 000

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

R s . 60, 000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B $R s . 2, 00, 000$
As per Accounting Equation
Assets = Liabilities + Capital
260,000 = 60,000 + Capital
Capital = 200,000

Suggest Corrections

Similar questions

Q. A business entity has assets of

R s .28, 000

and liabilities of

R s .8, 000

. Owner's equity in this case is _______________.

Q. A business has assets of

R s .45, 700

and owner's equity

R s .13, 200

. What is the amount of liabilities?

Q. Equity- Rs.

90, 000

, Liability- Rs.

60, 000

Profit of the year- Rs.

20, 000

. Find Total Assets.

Jiya Ltd. Purchased a running business from Diya Ltd. for a sum of Rs. 2,00,000 payable by issue of 20,000 equity shares of Rs. 10 each.
The assets and liabilities taken over were:
Building Rs. 80,000, Plant Rs. 80,000, Debtors Rs. 60,000 and creditors Rs. 40,000.
You are required to pass the journal entries in the books of Jiya Ltd.

Q. If the owner's equity is Rs.

80, 000

and external liability Rs.

40, 000

, Cash in hand Rs.

20, 000

, the total assets of the firm will be ___________.

Join BYJU'S Learning Program

A business entity has assets of Rs.2,60,000 and liabilities of Rs.60,000. Owner's equity in this case is__________.

The correct option is B Rs.2,00,000As per Accounting Equation Assets = Liabilities + Capital260,000 = 60,000 + CapitalCapital = 200,000

A business entity has assets of $R s . 2, 60, 000$ and liabilities of $R s . 60, 000$ . Owner's equity in this case is__________.

The correct option is B $R s . 2, 00, 000$
As per Accounting Equation
Assets = Liabilities + Capital
260,000 = 60,000 + Capital
Capital = 200,000