CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Total assets of a firm is Rs. 1,50,000, Capital amounted to Rs.70,000, total outside liabilities would be _________.


A
Rs.70,000
loader
B
Rs.80,000
loader
C
Rs.40,000
loader
D
Rs.20,000
loader

Solution

The correct option is D Rs.80,000
Accounting Equation can be defined as:

Owner's Capital + Outside Liabilities = Total Assets

by putting the available information:

Rs.70000 + Outsider liabilities  = Rs.150000

Outsider liabilities = Rs.150000 - Rs.70000

Outsiders liabilities  = Rs.80000

Accountancy

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
People also searched for
View More



footer-image