1
Question
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.
(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.
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Solution
Capital after Adjustment of revenue and expenses
=
Capital + Revenue – Expenses
=
40,000 + 50,000 – 40,000 = Rs 50,000
Total Asset
=
Capital after adjustment + Creditors
=
50,000 + 25,000
=
Rs 75,000
|
Capital after Adjustment of revenue and expenses |
= |
Capital + Revenue – Expenses |
|
|
= |
40,000 + 50,000 – 40,000 = Rs 50,000 |
|
Total Asset |
= |
Capital after adjustment + Creditors |
|
|
= |
50,000 + 25,000 |
|
|
= |
Rs 75,000 |
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