Listed in random order below are the balance sheet figures of Mr. Q as at $31 - 3 - 2015$ :
Trade receivables
Trade payabes
Building
Capital
Bank loan
Inventories
Cash
Reserves
Intangible assets
Shares
Equipments
Retained earnings $R s . 50, 000$
$R s . 30, 000$
$R s . 90, 000$
$R s . 1, 00, 000$
$R s . 40, 000$
$R s . 10, 000$
$R s . 20, 000$
$R s . 50, 000$
$R s . 30, 000$
$R s . 20, 000$
$R s . 40, 000$
$R s . 40, 000$
The owner's equity $= ?$

R s . 2, 10, 000

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R s . 1, 90, 000

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R s . 1, 20, 000

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R s . 1, 70, 000

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Solution

The correct option is C $R s . 1, 90, 000$
Assets Side Approach : $50, 000 - 30, 000 + 90, 000 - 40, 000 + 10, 000 + 20, 000 + 30, 000 + 20, 000 + 40, 000 = 1, 90, 000$ Or Liability Side Approach : $1, 00, 000 + 50, 000 + 40, 000 = 1, 90, 000$ .

Suggest Corrections

Similar questions

Prepare Trial Balance from the following information:

Loan given to Ramesh Rs.40,000; Trade Receivables Rs.50,000; Livestock Rs.30,000; Drawings Rs.10,000. Preliminary Expenses Rs.20,000; Investment Rs.50,000; Interest on investment Rs.5,000. Capital Rs.1,25,000; Advance from Mohan Rs.35,000; Bank overdraft Rs.15,000; Provision for doubtful debts Rs.8,000; General Reserve Rs.12,000.

Q. A business has following items:
Vehicles Rs 600,000,

Debtors Rs 1,20,000,

Cash Rs 30,000,

Owner's Equity Rs 10,00,000

Loan Rs 5,00,000,

Creditors Rs 50,000

Value of the land is ____________.

Calculate the gross profit /loss if:

Sales Rs. 60,000; Closing stock Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs. 40,000; Wages Rs. 20,000.

Calculate the gross profit /loss if:

Sales Rs. 60,000; Cost of sales Rs. 50,000; Opening stock Rs. 10,000; Purchases Rs.40,000; Wages Rs. 20,000 and Office rent Rs. 10,000.

Q. From the following Balance Sheet of Mohan Ltd., prepare cash flow statement.
Balance Sheet of Mohan Ltd.
as on………….

\begin{matrix} Capital and Liabilities & 2010 & 2011 & Assets & 2010 & 2011 (Rs.) & (Rs.) & (Rs.) & (Rs.) Equity Share Capital & 2, 00, 000 & 3, 00, 000 & Fixed Assets & 4, 00, 000 & 6, 00, 000 Profit and Loss & 1, 60, 000 & 2, 00, 000 & Stock & 1, 30, 000 & 1, 50, 000 Bank Loan & 1, 00, 000 & 80, 000 & Debtors & 1, 00, 000 & 60, 000 Accumulated Depreciation & 80, 000 & 1, 00, 000 & Bills Receivable & 20, 000 & 30, 000 Creditors & 1, 40, 000 & 1, 20, 000 & Bank & 90, 000 & 30, 000 Proposed Dividend & 60, 000 - ------ - & 70, 000 - ------ - 7, 40, 000 - -------- - & 8, 70, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 7, 40, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 8, 70, 000 - -------- - \end{matrix}

Additional Information:
Machine costing Rs. 80,000 on which accumulated depreciation was Rs. 50,000 was sold for Rs. 20,000.

The correct option is C Rs.1,90,000Assets Side Approach : 50,000−30,000+90,000−40,000+10,000+20,000+30,000+20,000+40,000=1,90,000 Or Liability Side Approach : 1,00,000+50,000+40,000=1,90,000.

The correct option is C $R s . 1, 90, 000$
Assets Side Approach : $50, 000 - 30, 000 + 90, 000 - 40, 000 + 10, 000 + 20, 000 + 30, 000 + 20, 000 + 40, 000 = 1, 90, 000$ Or Liability Side Approach : $1, 00, 000 + 50, 000 + 40, 000 = 1, 90, 000$ .