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Question

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
$$Rs. 50,000$$
$$Rs. 30,000$$
$$Rs. 90,000$$
$$Rs. 1,00,000$$
$$Rs. 40,000$$
$$Rs. 10,000$$
$$Rs. 20,000$$
$$Rs. 50,000$$
$$Rs. 30,000$$
$$Rs. 20,000$$
$$Rs. 40,000$$
$$Rs. 40,000$$
The owner's equity $$= ?$$


A
Rs.2,10,000
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B
Rs.1,90,000
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C
Rs.1,20,000
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D
Rs.1,70,000
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Solution

The correct option is C $$Rs. 1,90,000$$
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 : $$1,00,000 + 50,000 + 40,000 = 1,90,000$$.

Mathematics

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