On 31st Dec. 2006 assets of the business are Rs.3,00,000 and its capital is Rs.1,00,000. Its liabilities on that date will be __________.

Rs.

4, 00, 000

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Rs.

2, 00, 000

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Rs.

1, 00, 000

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none of the above

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Solution

The correct option is A Rs. $2, 00, 000$
As per Accounting equation,
Assets = liabilities + Capital
300,000 = Liabilities + 100,000
Liabilities = 200,000

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\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}

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On 31st Dec. 2006 assets of the business are Rs.3,00,000 and its capital is Rs.1,00,000. Its liabilities on that date will be __________.

The correct option is A Rs. 2,00,000As per Accounting equation,Assets = liabilities + Capital300,000 = Liabilities + 100,000Liabilities = 200,000

The correct option is A Rs. $2, 00, 000$
As per Accounting equation,
Assets = liabilities + Capital
300,000 = Liabilities + 100,000
Liabilities = 200,000