How do you find the missing figure on a balance sheet?

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Solution

The missing figures on a balance sheet can be determined by the following formula

Assets = Liabilities + Owner’s equity

Review each and every asset account, liability account and owner’s equity account posted in the balance sheet. The difference between the total assets and total liabilities plus owner’s equity will be the missing figure.

Also read:

Balance Sheet

Difference Between Trial Balance and Balance Sheet

Balance Sheet Vs Profit Loss Account

What Is the Balance Sheet Equation

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On dissolution, how you deal with partner’s loan if it appears on the

(a) Assets side of the Balance Sheet

(b) Liabilities side of the Balance Sheet


Particulars	Note No.	31st March, 2019, (₹)	31st March, 2018, (₹)
I. EQUITY AND LIABILITIES 1. Shareholders' Funds
(a) Share Capital		15,00,000	10,00,000
(b) Reserves and Surplus		10,00,000	10,00,000
2. Non-Current Liabilities
Long-term Borrowings		8,00,000	2,00,000
3. Current Liabilities
(a) Trade Payables		5,00,000	3,00,000
Total		38,00,000	25,00,000
II. ASSETS
1. Non-Current Assets
Fixed Assets:
(i) Tangible Assets		25,00,000	15,00,000
(ii) Intangible Assets		5,00,000	5,00,000
2. Current Assets
(a) Trade Receivables		6,00,000	3,50,000
(b) Cash and Cash Equivalents		2,00,000	1,50,000
Total		38,00,000	25,00,000

From the following Balance Sheet of Global Ltd., you are required to calculate Return on Investment for the year 2018-19:

BALANCE SHEET OF GLOBAL LTD. as at 31st March, 2019
Particulars	Note No.	Amount ₹
I. EQUITY AND LIABILITIES 1. Shareholder's Funds
(a) Share Capital–Equity Shares of ₹ 10 each Fully paid		5,00,000
(b) Reserves and Surplus		4,20,000
2. Non-Current Liabilities
15% Long-term Borrowings		16,00,000
3. Current Liabilities		8,00,000
Total		33,20,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets		16,00,000
(b) Non-Current Investments:
(i) 10% Investments		2,00,000
(ii) 10% Non-trade Investments		1,20,000
2. Current Assets		14,00,000
Total		33,20,000

Additional Information: Net Profit before Tax for the year 2018-19 is rs 9,72,000.

On dissolution, how will you deal with partner's loan if appears on the

(a) assets side of the balance sheet,

(b) liabilities side of balance sheet.

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