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Question

Listed in random order below are the balance sheet figures of Mr. Q as at 3132015:

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 : 50,00030,000+90,00040,000+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.

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