Question

Equity- Rs. $90,000$, Liability- Rs. $60,000$ Profit of the year- Rs. $20,000$. Find Total Assets.

• A. Rs. $170,000$
• B. Rs. $150,000$
• C. Rs. $110,00$
• D. Rs. $80,000$

Answer 1

The correct option is A Rs. $170,000$

In the balance sheet Total Assets=Total Liabilities

Here, details of liability side is given to us.

Total Liabilities= equity+Liability+profit of the year

= 90,000+60,000+20,000

= 1,70,000